apps

Millenial Activation

Yesterday I had the pleasure to speak at the ISPO Communication Day in Munich — part of ISPO, the world’s largest sports industry trade show. ispoMy topic was on which social media channel fits your story. And while you cannot be on every single social platform out there, you should at try to do at least 2 or 3 well. But more importantly today with so much happening in the social media sphere, the need to engage with millenials is becoming more and more apparent. They are becoming a major influencing factor for brands, trends, and markets. In the US alone they have close to $200 billion purchasing power each year. With social media being the environment they thrive in, time for brands to start building relationships with them there.

 

Authenticity is key

Ok, we all know that authenticity is key to humanizing your brand. But for millenials it is especially so. Last year, Forbes reported that 43% of millennials rank authenticity over content. The same report found that 62% of millennials are more likely to become a loyal customer if a brand interacts with them on social media. Because of how ingrained social platforms have become in our behaviour, audiences are more informed, aware and empowered than ever before. Social media has made us more cynical and more critical of what brands are doing. We can’t as easily be won over by a glossy ad – particularly digital natives who are increasingly more likely to prefer YouTube content over TV. So brands need to be transparent and honest.

You need to understand “dark social”

Want to market to millenials? Then you need to get acquainted with the term dark social. More and more consumers are conducting their conversations in private and share links away from major social platforms. They are taking to the likes of Snapchat, WhatsApp or other messaging apps. These are becoming new, opportunistic venues where brands could potentially start to engage in conversations that aren’t interruptive. Did you know that there are nearly 4 billion global active users of messaging apps, from WhatsApp and Facebook Messenger to WeChat and Kik? In fact, the top five apps in the world in terms of frequency of use are all messaging apps.

Move into unchartered waters

Most of us marketeers know that millenials don’t care for traditional advertising. They’re totally unaffected by it. That’s why social media marketing is such a big deal. The product is almost irrelevant. It’s the brand you have to sell, and social media is one of the best ways to do that. And while Facebook, Twitter, and Instagram have been (and still are) highly successful when it comes to brand awareness, none of them offer the same level of value and authenticity that Snapchat does. Snapchat has over 200 million users. With over 7 billion video views per day. Of course you cannot deliver large-scale conversations on Snapchat but maybe we need to follow our audience into unchartered marketing waters even if it would be nicer to stick to platforms we are used to and feel safe on. Maybe we do not know exactly the best way to use these one-on-one platforms yet but there are many brands that are already exploring. Content like product launches, behind-the-scenes. all unfiltered and happening in the now. Making the brand totally transparent and authentic with the potential of creating deeper, more personal relationships. And even if right now we may not have the mechanics to easily track these conversations, I am sure they will be coming sometime during 2016.

Influencers have the power

“People buy from people, not brands” – according to findings 92% of consumers trust recommendations from other users even if they may not know them. That is why it is important to understand how your brand is perceived out there. So think influencer marketing. Influencers have thepower when it comes to marketing services and products. Consumers today trust recommendations from family, friends, and social media influencers more than any type of paid marketing. And when someone is happy with your brand, they will share this with their social networks. The effect is unparalleled to any other marketing tool we have.

And don’t forget the IoT

Today’s world is becoming more and more connected. And millenials are expecting brands to be connected and able to offer them seamless person-to-digital experiences and interactions. Brands will need to move away from being interruptive and seeing themselves as a broadcaster to actually offering personalized solutions. Think of something alongside a reminder being sent to order an Uber to pick up your date for that restaurant reservation you have Friday night. Or which SPF cream to use for today’s sunshiny weather.

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Some innovation to snack on

Summer is slowly saying goodbye. And just in time to keep the good vibes going, We Are Social have published their fourth Curiosity Stop. The last report was so full it was a bit overwhelming so they have toned it down to be more snackable. I really love MotorMood – an LED against road rage or just to put a smile on someone’s face, but also clever new innovations like Mr Gabriel. Used with a smartwatch, it lets you send a text with your location directly to pre-selected loved-ones.

Smartphone Jealousy

ChinaWe Are Social updated their annual Digital Statshot on China this week. And it does not look like the pace of digital adoption is slowing. Believe it or not – China now has more social media users than the US and Europe combined.

When I look at China’s digital landscape, I realize that we are not using our phones to their full potential. China’s great firewall may mean there is very limited access to services like Twitter, Facebook or Google but when you see how much messaging services like WeChat can do that sort of can become irrelevant. WeChat is not only a messaging service. It lets you play games, check into a flight, call a cab, make money transfers and soon also a stock trading function.

Not only is cheap technology an advantage in China but also with it being the largest internet culture (some 668 million wired people, 89% on phones alone!) make a great test market. And in China, mobile payments are much easier to use because it is more widely accepted. No need for merchant’s to have special terminals because they have accounts within social networks like WeChat. Imagine if you could pay for your pizza delivery in Europe using your WhatsApp service! And not to ignore giant Alibaba that has expanded their service for online cash for anything like paying your rent, bills etc. You can even earn better interest with them than with a regular bank and get a loan if you need it. Financial disruption at its best.

You can read the full report here:

Drones, Messaging and More: Some Insights from Mary Meeker’s 2015 Internet Trends Report

Screen-Shot-2015-05-27-at-11.30.33-AMIt’s that time of year again (or another year has flown by more like it).Last week Mary Meeker presented once again her deep dive into tech trends. A whooping 197 slides this year, here are my main takeaways about the state of the internet world in 2015:

  • 39% of the world population (or 2.8 billion people) are now on the internet. Getting the remaining 5 billion people connected is a huge business opportunity. We have seen Facebook (Internet.org) and Google (Project Loon) make inroads. Of course their hope is by giving people in developing countries access to the web, they will become loyal customers.
  • Not really new news: the top internet companies are actually platforms. Think Apple, Google, Alibaba, Facebook and Amazon.
  • Whereas we have already seen massive transformation in the consumer space, great potential for new business opportunities lie in healthcare, education and government.
  • If you live in the US and are an adult, then you spend over 5.6 hours a day on the internet and that mostly via your mobile device. In Europe we are seeing a similar trend. And of course as our attention span gets shorter, we prefer shorter, bite-sized content.
  • And very important for us marketers: while consumers spend most of their time on mobile, ad spend on this medium is not on par. Another huge revenue opening.
  • Video viewing is growing. 9.9 hours a day in the US. And interesting to see that more people watch video vertically than horizontally (think Snapchat, WhatsApp, Instagram…) – so for content creators this means rethinking how they shoot their videos.
  • Messaging is KING! 6 of the 10 top apps by usage are messaging apps. Another potential opportunity for businesses by offering additional services like taxi, payment or food delivery services (similar to what WeChat is already doing in China). New messaging apps will have a hard time penetrating the market as it will become hard convincing people to join a new network their friends and family are not on.
  • Generation Z is shifting from text to visual social media. Facebook and Twitter are being used less, Snapchat and Instagram more.
  • With technology we are moving more to “just in time” products and services. Think grocery or food delivery, driver services, package pickups. Traditional businesses will become more and more disrupted unless they can find a way to compete with convenience. But online market places as well as on demand services are creating “part time jobs”. AirBnB, Uber  or Etsy allow for supplemental incomes to people’s “regular” jobs. A trend that will continue to grow no doubt.
  • Drones are the new cameras. Fact: There has been 167% year-over year increase in consumer drone sales. But we also need to consider their commercial use. They have the ability to save money for businesses by replacing planes amongst others and worse case could replace human jobs.
  • And finally – millennials are starting to drive the economy. Not only are they an important consumer group that marketers need to consider in their strategies, but also employers. Millennials have grown up connected to the internet and expect their working experience to offer that same flexibility.

Of course working a lot with clients in the financial industry, what is missing for me is more insight into how the finance and banking sector is and will continue to be affected by the internet. Think peer to peer lending, crowdsourcing, Bitcoin or even just simply how millennials will want to bank in the future.

Maybe Mary Meeker will include a slide in next year’s report.