Mistrusting Millennials – Why Your PPC Budget is Being Wasted
With Millennials coming of age and starting to have more spending power than any other generation, more and more brands are focusing their marketing efforts towards this lucrative demographic. However, a new group means new methods of communication. We’ve long since passed the days when big billboard and TV advertising campaigns can guarantee increased sales. Millennials have grown up with the internet and don’t know a time when information wasn’t immediately accessible. This has translated into their commercial behaviour; 84% of millennials don’t trust traditional advertising and savvy marketeers have already changed their strategies so that they are more organically focused.
Traditional methods of communications such as radio and magazine ads, banner and display ads, pop-ups and direct mail campaigns are a real turn off for Millennials. Importantly, when it comes to your digital strategy, paid online ads specifically are becoming a waste of your marketing budget. A study conducted by Forbes showed that Millennials don’t respond to paid ads, 40% of Millennials feel that paid online advertising is irrelevant and 66% of all Millennials have a pop-up blocker to ensure that invasive advertising simply isn’t served to them. This means that you could be spending money on advertising that is badly received and in two-thirds of cases, is never even seen by your potential customers.
Additionally, the recent Google crisis where adverts were shown next to extremist videos, has only added to the mistrust felt by consumers as a whole. If you are still investing in paid online ads, it might be time to reconsider your strategy in order to ensure you are attracting Millennials to consider your brand.
So how can you ensure Millennials are turned on by your marketing?
Millennials spend in excess of 25 hours per week online so whilst online advertising may not generate a desirable ROI, communicating to them digitally is imperative. Online content is definitely King. 84% of Millennials report that user-generated content on company websites at least somewhat influences what they buy and 33% of all Millennials read an online blog before they buy. This means that in order to be successful with this target market, you need to design a content creation strategy for your website that features regular, engaging content with relevant information about your brand and your products and services.
On average, Millennials check their smartphones a staggering 43 times per day and 40% of them use their smartphone to make online purchases. Therefore a robust, mobile-friendly site is something that you cannot afford to be without. Regular mobile friendliness checks, implementing accelerated mobile pages (AMP) and ensuring the mobile user experience is easy and enjoyable HAS to be a significant part of your digital strategy.
Your digital strategy needs to extend further than your own website too. Compared to non-Millennials, Millennials are 44% more likely to trust experts (who happen to be strangers), than advertisements and 247% more likely to be influenced by blogs or social networking sites. This means that your offsite strategy needs to include both influencer engagement and social media. Impartial product reviews are a great way to get influencers talking about you online and generating interesting content for your potential customers to read. In order to get the best bang for your buck you need to make sure that your influencers are also providing high-quality backlinks to your website. This will help to improve your organic search engine rankings so you are found when your potential customers are searching for your product or service.
Regularly populating your social media sites with content about your company or products is no longer enough to build your communities and generate sales. Millennials don’t log-off when they get home and are often surfing social media accounts at the same time as watching Netflix. With multiple screens on the go at the same time, you need to ensure your audience is highly engaged and is interacting with your content.
There are many components to a successful digital marketing strategy and the Millennial demographic is not an easy one to reach AND engage with. By 2020 it is estimated that they will have over $170 billion of spending power. Cracking the Millennial nut is certainly worth the pain. Why not speak to Tamar about our experience of reaching and engaging with Millennials? With our help and an organic strategy in place, you can increase your ROI from digital spend and lower your CPA.