Thursday, March 15, 2012

{JMC 335} Social media, business and millennials

A couple weeks ago, I did a post on how marketing to millennials is different, based on insight from Liene Stevens of Think Splendid.

One of the claims Stevens makes is this: "Social media changed how older generations communicate, but it mimics how millennials have always communicated."

An infographic created by Envelopments based on Stevens's insights.
This is such an important concept to consider when working on business marketing and communication strategies. Experts have called millennials "old souls," because research shows that they have a reclaimed interest in community--which shows in their use of social media.

Social media are all about community. Research done by Lesa Stern and Kim Taylor in 2007 showed that millennials use Facebook to stay in touch with old friends and to connect with new ones. Facebook, as well as other social media, are used to build and solidify community.

Advertising on Facebook to millennials in the US has an estimated reach of almost 100,000 people.

The potential for businesses benefit from the community in which millennials engage on social media sites such as Facebook and Twitter is huge. Market research shows that millennials look for brands on social media sites, and that around a third of millennials are more likely to buy from a company that has a mobile website and a Facebook page.

A handy graphic from showing some of the results of
the Barkley research mentioned above.
The question now, perhaps, is how businesses should move forward in using social media as a tool to relate to the millennial generation (who, might I add, make up around 25% of the U.S. population).


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