Millennials represent approximately 27% of the Canadian population and 25% of the US population. That’s over 89 million people. With recent research showing that almost one quarter of this population feels forgotten by advertisers, more and more top marketers plan to increase spending on targeted digital advertising campaigns to reach this underserved consumer market.
In order to activate and engage millennials with digital advertising, marketers need a strategy and a process. Below are a few insights from our Digital and Creative teams that can help you capture the hearts and minds of millennials.
A Values Based Mindset
Millennials are those born between the years 1980 and 2000. When planning a digital campaign keep in mind that millennials will want to collaborate and engage with your brand. Millennials use social media to identify company values and interact with brands – They look for companies with values they can relate to and interact with. The digital interaction is where they determine if their values and voice matter to your organization. Companies that collaborate and co-create with millennials stand apart.
In your digital advertising, it is important to uniquely position your brand in alignment with their personal values. Studies show that millennials are 50% more likely to click an ad when it is highly targeted and relevant to what they value.
Creating Highly Targeted Campaigns
Develop a strategic plan and do your research to understand each social network. What are the ad options and specs, what are the targeting options and what is the media buy ROI?
Every network has a lot going on behind the scenes with unique algorithms and different advertising options. To achieve the highest level of engagement craft a strategic message with short copy, creative use of content and a clear call-to-action. Millennials engage more with highly targeted ads so we suggest you dive deep into the targeting options provided by each digital platform.
Millennials are projected to spend $200 billion annually by 2017. Brands that find a strategic, targeted and values-based position on digital will have an edge with this growing and informed market.