So unless you’ve been living under a rock, you’ll recognize the impact of social media in our day-to-day lives, and how it influences our perspectives and experiences.
But how do we utilize the value of social media marketing for our business?
It’s simple, really.
You have to create an effective strategy and understand the social media habits of the millennial demographic.
With the right strategy in place, social media marketing for millennials will build an audience, create a trustworthy brand and lead to the generation of more sales.
The Freshers Marketing Report by The Beans Group showed that 33% of students say they spend more than 20 hours a week online while at university, while Hubspot claims that 84% of millennials do not trust traditional advertising.
Elite Daily also discovered that 62% of millennials say that if a brand engages with them on social networks they are more likely to become a loyal customer, and 58% of millennials expect brands to publish content online, wanting to see that content rank authenticity before making a purchase.
And since the profit power of student and millennial audiences is astronomical, with 2.27 million students studying at UK Higher Education Institutes and a further 2.7 million studying in further education, with a combined total of £30 BILLION per year spending power (UCAS) – there’s big bucks to be made from using social media to reach millennial audiences.
Check out our handy infographic explaining the power and statistics of student spending.
Sharing over a decade of experience marketing to millennials successfully (having attracted 10,409 Millennials (aged 17-24) to our live event in Glasgow last year, with aim this year being to dominate London) we’ve calculated the do’s and don’ts of social media marketing for millennials. You’re welcome!
Do Make the Most of Snapchat & Instagram Stories
Though Facebook and Twitter are still popular platforms for millennials, and should definitely be used to engage with those audiences, it’s Snapchat and Instagram that are favoured by this young demographic.
New statistics by the Pew Research Centre find that 68% of millennials are on Facebook, while only 45% are on Twitter. In comparison, a massive 78% of 18-24 year olds are on Snapchat and 71% are on Instagram.
There are heaps of opportunities for marketers on these platforms, from placing video ads within live stories to taking advantage of Snapchat’s Discover platform, where media companies have their own channels.
You can also go for sponsored geofilters, which allow brands to target users based on location, giving them branded filters to put over their images. For example, last year Taco Bell’s Cinco De Mayo filter found huge success on Snapchat, being viewed more than 224 million times. Its filter transformed the face of the user into a taco covered in sauce, and this campaign became the most effective in the app’s history.
Instagram also makes the most of the appeal of visual content online, and Instagram stories have the advantage of short, concise snippets of content that you can create on-the-go, and since it expires after 24 hours, it doesn’t need to be ‘perfect’, and in fact, the more candid and authentic the content is the more likely it’ll receive millennial engagement.
Don’t Forget To Find Ways to Collaborate
Millennials value personalization and sincere, authentic experiences with brands. We are living in the age of authenticity – and what’s the best way to deliver candid content? By collaborating directly with your target demographic.
According to HubSpot, 42% of millennial consumers state that they want to help companies develop future products and services, coinciding with the experience economy driven by young people and the idea that millennials value experiences over things.
Creating user generated content will provide an authentic, personalised dimension to your brand that benefits both you and your followers.
Reach out to your audience and offer them products or services for a free trial period in exchange for their stories, opinions or photos to use on social media. The fact that millennials are open to this type of collaboration will increase your sales and brand engagement since 88% of consumers trust online reviews as much as personal recommendations.
Do Focus on Quality Over Quantity
Since we know already that millennials prefer experiences over ‘stuff’, it probably won’t come as a surprise to hear that this demographic are more interested in high-quality content over being bombarded with a massive quantity of posts that’ll just get lost or ignored in the feed.
According to Harvard Business Review, when it comes to online marketing, 74% of millennials get frustrated by overly frequent marketing communications, and prefer fewer communications that are more relevant.
In fact, the same review shows that 70% of millennials are happy with brands tracking their consumer behaviour, going hand-in-hand with the idea that less frequent, tailored content will be more effective in brand engagement and the potential of sales and conversions.
Do Create Effective Video Content
Though digital and text-based stories that showcase your brand personality and culture, such as blogs, are crucial to a robust content marketing strategy, high quality, effective video content will also reel in millennial customers and grow your brand awareness and sales.
But where’s the evidence?
Well, millennials are more interested in choosing online video content than they are watching TV, since according to Cisco, 80% of all consumer internet traffic by 2020 will be from online videos, making video a sure-fire way of getting your brand noticed for the right reasons. Video content that provokes an emotional reaction will form a connection between you and your demographic. Adweek revealed that comedic video ads resulted in a 50% increase in brand familiarity.
PLUS, millennials with businesses who market to their peers, according to in-depth research by Magisto, prioritize video content as a means of reaching their demographic, with 85% using video in their marketing strategy 45% dedicated more than one quarter of their budget to it.
Find out more about our London and Glasgow Freshers Festival events and our philosophy of student and Millennial event marketing here.