{JMC 335} Social media podcast

Why is social media so important for business in the digital age? Research points to some possible reasons for its importance, especially considering the immense buying power that millennials have.

 

{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 eMarketer.com 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).


--Lindsie

{JMC 335} Reflecting on social media, business and journalism

I recently ran into this article on what to expect from social media. It really resonated with what I've been feeling, what I've been reading on various blogs and books, and what I've been hearing in JMC 335.

Many expect social media to be magical, and maybe it is. But just like a witch's cauldron or mystic's crystal ball, there has got to be someone guiding it.

One has to drive content on twitter, facebook and google+ just like content is driven in more traditional media. Just like with more traditional media, an audience has to be actively sought and engaged; it doesn't just appear.

{Marketing} Millennials are different

Liene from Think Splendid wrote a fabulous post the other day about how marketing to millennials is different from marketing to other generations. She specifically targeted wedding businesses, but most of these are applicable for all businesses.

Some awesome highlights:

• The oldest millennials are 33, the youngest are 12, so they'll be the majority wedding consumer for a long time.
• Social media changed how older generations communicate, but it mimics how millennials have always communicated.
• 64% of millennials expect to hear back from companies within 24 hours. Replying even faster than that is better.
• Millennials spend money on experiences and items that make their lives better in some way, not flashier.
• Marketing that reinforced individuality worked for Gen X. Millennials prefer messages that reinforce family and community.
• Millennials value authenticity. They have finely tuned BS detectors and have little patience for insincerity and gimmicks.
• Millennials do their homework. They research everything and read an average of 13.9 reviews before making a purchase.

Envelopments thought you should see this in a friendly infographic. I happen to agree, so here you go:

As a millennial, let me plea with you: Please don't try marketing to us like we're carbon copies of our parents. Many of us don't even understand what "carbon copy" actually means, but our parents do. Like Liene says, we think like social media rather than old receipt books.

-- Lindsie