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Millennials and the New Marketing
Oct01

Millennials and the New Marketing

Consumers have long been vocal about their aversion toward ads; ads interrupt programs, push products that are potentially not of interest and are, in general, a nuisance. However, consumers do appreciate some aspects of advertising—ads are sometimes entertaining and occasionally provide information about products and services relevant to future purchase decisions. Recently, advancements in media and technology have provided advertisers with a multitude of new ways to target and connect with potential customers. One of the most significant changes involves increasingly precise methods for targeting ads to the appropriate consumer. Via “programmatic” buying, advertisers who once developed a single commercial intended to appeal to everyone can now run multiple ads, each addressing a specific type of consumer—as defined by demographics, lifestyle or past purchase behavior. Click HERE for...

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Cord-Cutting, Tipping Points and Advertising
Aug20

Cord-Cutting, Tipping Points and Advertising

Recent reports confirm that the number of consumers who have decided that they don’t need cable companies anymore has increased dramatically lately. Clearly, Wall Street is worried about this trend, with the large media companies losing as much as $60 billion in value in a recent two-day period. When we listen to cord-cutters, and to those who haven’t cut the cord, it’s clear that the trend has reached a tipping point. Cord-cutters, comprised largely but not wholly of Millennials, are proud of their choice, and are advocating to their friends who haven’t made move. Many of those Millennials who haven’t cut the cord seem slightly embarrassed, feeling the need to explain why they too haven’t cut yet. And then, there’s that group of incoming consumers, the ‘cord-nevers’. These are young Millennials, and the soon-to-be adult group, Gen Z, who move into adulthood and household formation having never established a TV subscriber relationship and who feel no need to do so. Many experienced cord-free college dorm rooms, and learned early that there are many ways to view the content they need without a cable subscription. But what’s bad for the media companies may actually be good for advertisers – at least those who stay on top of consumer trends and have the agility to adapt to the changing environment. Sure, it was a lot easier to buy advertising impressions when everyone was just watching TV. But many of those impressions didn’t actually make any impression, because so many consumers were so disengaged with what they were tuned in to. In the new world of consumer as CEO of their own entertainment, advertisers can expect a much more engaged audience. The viewing environment used to be one in which the TV was often the ‘talking lamp’ in the room – constantly on, but often with little attention being paid on the screen. While Nielsen counted every household that had a set on as part of the viewing audience, advertisers had little hope that their target consumer would actually engage with the commercials that lit up the screen for :30 seconds or so. In contrast, today’s cord-cutters have taken control, becoming CEO of their content – what they watch and when they watch it. Sure, for some of the content, the commercials are optional. But the majority of these consumers say they’d prefer to have a few commercials sprinkled in rather than pay for the content. And they are actually watching what they have chosen – giving advertisers a better chance of holding their engagement during those commercial moments. Commercial content will still need to be captivating, well branded and persuasive to...

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State Farm Makes Plans to Sell Car Insurance Customer Data
Jul15

State Farm Makes Plans to Sell Car Insurance Customer Data

State Farm has developed plans to sell customer data, allowing advertisers to create highly targeted pitches based on where, when and how people drive. In a patent application filed with the U.S. Patent and Trademark Office, State Farm proposes gathering information about drivers’ routes and stops from vehicles’ sensors, navigation systems, cameras or other devices. State Farm would send data on driver’s habits to “another unit or entity,” such as an advertising agency or vendor, and the agency would use this data to send the driver targeted radio or email ads. As the application explains, drivers might receive an ad for “Restaurant A” if they regularly visit similar restaurants. Click HERE for...

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Avoiding ‘Middle of the Road’ Brand Positioning
Jun05

Avoiding ‘Middle of the Road’ Brand Positioning

To effectively reach millennials, marketers must leverage research and its resulting consumer insights to identify and quantify new brand positionings as either cutting-edge or nostalgic. Just stay out of the middle lane. When researching and developing brand positioning, many marketers try to create a space in which they can appeal to as many consumers as possible, ideally striving to be the No. 1 brand in their category. Marketers and researchers often work to find the concept that the largest percentage of the target market will find appealing, but when it comes to marketing to millennials, this strategy isn’t going to cut it. In fact, an appeal to the masses can turn into the kiss of death for a brand. Click HERE for...

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Millennials and Brands
Apr15

Millennials and Brands

Many marketers are concerned about the death of the traditional brand. As the millennial generation (those classified as adults ages 18-34) start to exercise their purchasing power, there is a strong sense of foreboding. The media is full of reports of how millennials don’t pay attention to or believe traditional advertising. Store brands proliferate and consumers who switched from name brands to save money when their household budgets were tight don’t seem inclined to go back. What’s a brand marketer to think and, more importantly, what are they to do? Click HERE for...

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