INFLUENCER: In a millennial world, brands must deliver a well-told authentic story, writes Saville Productions’ Rupert Maconick
Millennial: the demographic on every marketer’s mind. Millennials are continuing to bulk up their spending power and brands are scrambling for fresh and innovative ways to engage the millennial consumer to establish lifelong brand loyalty. The truth is, winning over the millennial demographic means that a brand must adhere to what drives their morale: authenticity, philanthropy and making a positive social and environmental impact.
We currently live in a consumer-driven world and millennial consumers especially want to feel good about their purchases and also want to make use of social media to share the story behind the purchase. Brands are being held to the highest standards and thus cause marketing has tremendously grown from being a $120 million industry in 1990 to an industry of more than $2 billion in 2017.
Studies show that more than 9-in-10 millennials will switch brands to one associated with a cause, and brands are responding by joining the corporate social responsibility movement and shifting from traditional advertising to branded content that embraces good citizenship. However, branded content isn’t a guaranteed advertising success. Studies show millennials are sceptical toward marketing and will immediately detect a cheap attempt to capitalise on social issues. Having grown up in a digital age and being over-exposed to advertising, the media-savvy generation is quick to flag inauthenticity and branded content that’s a thinly disguised ad. This demographic isn’t forgiving when a brand misses the mark.
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