Millennials and the Marketing Landscape
Millennials are an extremely coveted group by marketers. As a result of social, mobile and online, and the personal empowerment they offer, this generation will go down in history as the first to shift marketing control by fostering a two-way conversation that helps shape exactly how brands communicate.
Of the many aspects that Millennials value in marketing, choice is one of, if not the most important. Picking up on this, McDonalds released its McWrap this past month. The hope for the fast-food giant is that the new product will appeal to their targeted demographic, allowing it to compete against chains like Subway and Chipotle, both of which offer the variety and options that Millennials seek. The McWrap will do the same by presenting consumers with several different ways to make it.
New Brand Targeting on Facebook
Facebook recently announced that brands will soon have the ability to send targeted posts to users via their newsfeeds without having to put those same posts on their own page. This is significant because it means brands’ posts won’t “pester” those who are not interested. For example, a brand like Modell’s will have the ability to target fans of a specific sport through their newsfeed without having to inundate its own page with material.
In addition, once the posts are clicked on, they will either link back to the brand’s Facebook page or website, furthering e-commerce.
Mobile Advertising is Growing…Fast
Experts knew that mobile would continue to make a dent in overall ad revenue in 2013. However, they didn’t expect growth at this rate. According to AdAge, eMarketer has boosted its mobile ad revenue forecast to $7.29 billion – up $100 million from its prediction at the beginning of the year.
The explosive growth of Google, Twitter and Facebook platforms on mobile has bolstered ad spend. For example, Facebook earned no revenue through mobile in 2011. In 2013, it is expected to earn north of $950 million. Meanwhile, Google is expected to strengthen mobile ad revenue through improved mobile monetization of YouTube – a testament to how imperative mobile has become for brand marketers.