Digital / Social Media Strategies to Attract Millennials

Transcription

1 Digital / Social Media Strategies to Attract Millennials

2 Problem #1 How do we Make the Case for Digital?

3 Traditional vs. Digital Advertising Traditional vs. Digital

4 Traditional vs. Digital Advertising % Change Traditional vs. Digital Spend The 2015 CMO Survey, Duke University s Fuqua School

5 Traditional vs. Digital Advertising: WHY THE CHANGE? Shrinking Reach Less Credibility Bad Targeting More Expensive Hard to Measure Better Reach Less Expensive Great Targeting Pay Only for Results Easy to Measure

6 Problem #2 How do we Engage Millennials?

7 What Species are Millennials and How do you Reach Them?

8 Five Facts About Millennials Socially Conscious Prefer Tech Most Diverse Poorer Most Numerous (sometime in 2015)

9 Millennial Tastes Top 5 Quick Service Restaurants by Generation

10 Millennials and Traditional Brands % of those age have never tried Budweiser (Anheuser-Busch Internal Research, 2014)

11 How to Reach Millennials Up Your Tech Game Word of Mouth Customer Service Think Nontraditional Be Authentic / Transparent

12 Up Your Tech Game: WHY? It s WHAT millennials expect It s WHERE millennials are It s HOW organizations with $maller budget$ can compete It s HOW you can truly measure results and prove ROI to leadership

13 Up Your Tech Game: SEARCH ENGINE OPTIMIZATION This is your chance to create content (e.g. a blog) that answers your audiences questions (driving traffic and building trust)

14 Up Your Tech Game: WHERE TO BE ON SOCIAL

15 Up Your Tech Game: SOCIAL MEDIA MARKETING The Process Define Your Objective Define Your Audience Set Your Budget You can also promote posts / tweets instead of creating ads. Manage Create Your Ads

16 Word of Mouth: WHY? It has the most CREDIBILITY with millennials It has unprecedented REACH due to social media The alternatives are DISAPPEARING It will endure for the LONG TERM

17 Word of Mouth: DIGITAL ELIMINATES THE MIDDLE MAN

18 Word of Mouth: BRAND JOURNALISM Approaching the promotion of a brand with the eyes, insight and delivery of a reporter. Your Beat : The Company Your Employees Your Community Your Paper : Social Media

19 Word of Mouth: CONTENT CURATION Finding/sharing relevant information provides value, is free, and relatively easy. Find Content 1 (Sites like Reddit, Subscribe to RSS SmartBrief, Linkedin 2 Feeds / Manage Today, Pinterest, CNN Money, etc.) 3 Share and Engage With Your Audience

20 Word of Mouth: CAUSE MARKETING As community banks, you re likely already doing this digital can help you maximize your investments Effect of Social Responsibility on Purchasing Decisions (by Generation) (Harris Interactive, 2014)

21 Customer Service: WHY? It is a UVP as variety and consumer choice continue to GROW Due to social media, it has never been MORE VISIBLE By 2020, it will be the KEY DIFFERENTIATOR (replacing price)* *(Walker, 2015)

22 Think Nontraditional: WHY? Millennials are IMMUNE to traditional messages and platforms New tech demands NEW THINKING about marketing (think CPM vs. CPC and A/B testing) Fragmentation demands new thinking about audiences; IGNORE the majority

23 Be Authentic / Transparent: WHY? Banks start at a CREDIBILITY DEFICIT with millennials don t just need to be sold on banks, they need to be sold on the idea of BANKING ITSELF Ubiquitous technology has made our world RADICALLY TRANSPARENT ignore this at your peril Community banks have the potential to be the LOCALLY-SOURCED, ARTISAN alternative millennials seek out

24 Problem #3 How do we Handle Complaints on Social?

25 Complaints on Social Media: KLM ROYAL DUTCH AIRLINES

26 Handling Complaints on Social Media Jay Baer Hug Your Haters Haters are not the problem ignoring them is It s never been easier to complain on stage (most likely to complain on stage = millennials) Haters give us the chance to make lemonade Goal: Answer every complaint, every channel, every time

27 Complaints on Social Media: KLM ROYAL DUTCH AIRLINES KLM provides customer service for 134 destinations in 67 countries for 27M passengers per year in 14 languages If they can do it you can do it.

28 Problem #4 How do you Make Time for Digital?

29 Digital Tools for Time Management Feedly Google Alerts Hootsuite

30 Digital Tools for Collaboration Many social media management tools (like SproutSocial, Kapost, and Hootsuite Pro) offer workflow features so teams can distribute the work of engagement:

31 Problem #5 How do we Target Our Digital Marketing?

32 Targeting Digital Marketing The tools make targeting easy the hard part is thinking creatively when you use them.

33 Targeting Digital Marketing Geofeedia

34 Problem #6 How do we Convince Leadership About Digital?

35 Making the Case for Digital: SCALE Start Small, Experiment, and Grow A Facebook ad campaign can start at $50/mo Use the Analytics

36 Making the Case for Digital: USE COMPETITORS Show Leadership What Your Competitors are Doing

37 Problem #7 How do we Ensure Compliance?

38 Ensuring Compliance: WORKFLOW TOOLS Many of the social media management tools mentioned provide an approval process as part of workflow

39 Ensuring Compliance: REPURPOSING Start with the language / copy you already have approved elsewhere and build on it.

40 Ensuring Compliance: CUSTOMER ENGAGEMENT Start a Response Database: As Questions Come in, Save the Responses and Share With the Team FAQs As Simple as a Google Form / Spreadsheet

41 LOCATIONS 47 Commerce SW Grand Rapids, MI S. Washington Square Lansing, MI Broadway Detroit, MI P P P GRAND RAPIDS LANSING DETROIT