INSIGHT
FOUR CONTENT STRATEGIES TO BUILD LOYALTY WITH MILLENNIALS
Conventional wisdom may say that Millennials are flighty and spend money only reluctantly, but Corey Padveen of t2 Marketing International and author of Marketing to Millennials for Dummies, says this is a misconception and that there’ s one strategic asset that stands above the rest when it comes to building loyalty with this audience – content.
THERE IS A COMMON misconception among marketers that the Millennial audience is notoriously fickle. But contrary to what many think, Millennials are actually more loyal than any generation that came before them. Moreover, Millennials have the potential to be worth more on an individual basis over the course of their lifetime. This goes against another common misconception— that Millennials are price sensitive and hesitant to spend any money. While this may be true in some regards, they will spend money and stay loyal to a brand if: a) they feel there is a significant degree of economic utility in their expenditure; and b) they have developed a relationship with a brand on a personal level.
You might only need to achieve two conditions to build that sought-after loyalty from Millennials, but they are not necessarily easily reached. You may read about campaigns or initiatives that have succeeded at driving Millennial engagement and conversion, but when it comes to loyalty, there is one strategic asset that will stand out above the rest: content. Developing effective, objective-oriented content strategies will help you connect with Millennials on a personal level, which will help build those long-lasting relationships that lead to conversion, high lifetime value and long-term loyalty.
Content is a fairly broad term. It comes in many shapes and sizes, and it differs from one medium or communications avenue to the next. While some aspects of your content might change, the strategies outlined here are designed to build strong relationships with your targeted Millennials, regardless of the platform on which these strategies are implemented.
Provide value Value comes in many forms. In some cases— likely the one most marketers immediately assume when they hear the term‘ value’— it can mean economic value, for example, coupons or specials offered to fans, followers and subscribers. The value referred to in this particular strategic initiative, however, is somewhat different. When you’ re trying to connect with Millennials, you want your content to contain some type of value that stretches beyond a one-off deal or offer. You want there to be sustainable value that keeps your audience coming back.
There are several different types of content that offer sustainable value. Most come in the form of knowledge. If you can educate your audience in some capacity that leaves them with something they did not have before, you’ re in an excellent position to build a lasting relationship. In terms of the kinds of educational content that Millennials are most often attracted to, there are three types: informational, instructional and inspirational.
Informational content is rooted in the explanation of theories, concepts and other brand- or industry-related concepts. When you share informational content, you are providing your audience with the stepping stones needed to become experts in a given subject. Let’ s say, for example, you’ re sharing information about the kinds of bets that exist in the casino game of craps. To do this in the most effective way to drive continued traffic, you’ ll create content( which can be in virtually any form, be it written, video or audio; though, the last two are worth more of your effort, as explained in the third strategy) on
“ To make your content more digestible, the key is simplicity. You want your brand experience( or buyer journey) to be fluid and clear, and your messaging to be short, to the point and genuine” iGB Affiliate Issue 62 APR / MAY 2017
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