Marketing your way to millennials' hearts
At the exchange4media BW APPLAUSE Conclave & Awards 2017, experts came together to discuss what millennials expect from brands and brand experiences
The question of the moment is how to reach the biggest target audience in the world and give them a brand experience where they dwell? At the exchange4media BW APPLAUSE Conclave & Awards 2017, experts came together to discuss what millennials expect from brands and brand experiences.
The panel included Tushar Dhingra, CEO, Smaaash Entertainment; M Yeshwanth Nag, Founder, The ThickShake Factory and Kiren Shrivastav, CEO, Molecule Communications.
M Yeshwanth Nag, Founder, The ThickShake Factory, pointed out that almost two-thirds of Indians are millennials. “About 80 per cent of customers we cater to are millennials. Hence, it’s really important to understand them and their preferences,” said Nag. “The millennials by default are marketers themselves,” he asserted.
Kiren Shrivastav, CEO, Molecule Communications, said that if research was to be believed, even a goldfish’s attention span is more than the average millennial’s. Speaking about retaining their attention, Tushar Dhingra, CEO, Smaaash Entertainment, said that their brand uses VR and AR games that engage the Gen Y in multi-sensorial ways. “We keep on changing our centres and that keeps the excitement going and keep updating the versions of our games,” he added.
Both Dhingra and Nag agreed that innovation is important in wooing the generation and catering to their short attention spans. “Change is one thing that holds their interest so we keep revising the menu and adding interesting variants to it,” confessed Nag.
They also pinpointed that given the generation’s heavy use of social media; digital and word-of-mouth works well for them rather than any other type of advertising on radio or other mediums. “Ninety-five per cent of the budget is spent on digital only,” confessed Dhingra who gave an example of their on-ground activity during their launch of craft beer at Ludhiana.
“We just posted about it on Facebook and had nearly 2,800 people turn up for it on the day,” he revealed. Nag opined that customization is another aspect that attracts Gen Y and spoke about how ThickShake’s 'create your own shake' is something that has been doing well. While digital marketing and selfie-friendly experiences are a pull, the millennials want to feel aspirational not just towards the brand ambassador but themselves too,” said Shrivastav, summarizing the thought-provoking discussion.
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