Welcome to Spot Studio’s Weekly Roundup! Your destination for the latest marketing news and resources. Last week we brought you Social Media, Email Clients and Mobile and now you can look forward to Millennial Trends, Checkout and Customer Retention. Enjoy!
Marketing to Millennials: 3 Trends You Should Know About
Nowadays Millennials are placing more and more trust into social media influencers and abandoning traditional marketing communications. 60% of Millennials have stated they’d try a product suggested by a Youtuber and a third of them consider blogs to be their top media source when looking up purchases. The result of this is that brands are increasingly collaborating with social media influencers to reach their Millennial market and this has huge potential. So, if you want to get on board with this trend then you need to do the following: identify the people who influence your customer, then start the careful process of convincing them to present your product.
2. User Generated Content
With targeting Millennials comes your most valuable resource – your customers. User generated content is a good way to push your audience further down that conversion funnel. Millennials trust user generated content 50% more than other types of media, and there are plenty of ways you can encourage them to post about your products. For example, reposting your customer’s content on Instagram not only gives them the thrill of exposing their account to your following, but it’s mutually beneficial for you too. This turns your customers into brand advocates and can bring on a decent return.
3. Social Consciousness
Millennials are socially conscious beings. They like to know they’re making a difference in the world, and they’ve started turning to businesses to help them with this. 69% of Millennials want businesses to include customers on getting involved in social issues. Showcasing your social responsibility not only makes the world a bit better but it encourages your customers to engage in social change. Look for problems in your own community or keep an eye out for disasters to act upon. Don’t be tacky about it though.
Influencer Marketing Challenges
Let’s explore influencer marketing in a little more depth, shall we? There’s three main challenges that marketers face when they take on influencer marketing:
- 1. Approaching and Engaging Influencers – The increasing popularity of influencer marketing means that it’s becoming more difficult to appeal to them. The heightened demand for influencer mean your chosen one may be inundated with similar emails and can pick and chose who they want – they’re in control. To be in with a chance of bagging them you not only need to offer financial incentive but you should only contact the influencers you think will actually be interested and want to present your product.
- 2. Identifying the Right Influencer – This is a very common hurdle marketers come across. Not being with the times or knowing much about your target customer can make this part very difficult. It takes way more than a Google search to identify potential brand advocates. The way many marketers are dealing with this is out-sourcing to agencies who know what their doing.
- 3. Measuring ROI – Influencer marketing is a difficult tactic to measure the ROI of. The issue isn’t unique to influencer marketing but agencies and brands have been struggling with this for a long time. It’s worth using non financial key performance indicators to measure the success of your influencer marketing. For example, take into account newsletter sign ups, traffic and other soft conversions. It’s not all black and white.
Which Checkout Features Do Retailers Offer Most?
Paypal has in fact seen the greatest gains in adoption in the past year compared to other checkout features. 67% of leading US retailers offer Paypal checkout in Q4 of 2014 according to The E-Tailing Group. Other features such as delineated or stepped checkout and pre-populated customer information were offered by nearly all the retailers studied in 2014 with little room for growth that year. Although, other features like one-click checkout are offered by just over half of the top 100 US retailer websites, so there’s potential here. Collapsible carts are offered by even fewer. These features are in important part of the checkout process and a faster checkout – which seems to be the focusing point here – can improve the overall customer experience. Your website should be fast and easy to navigate.
Customer Retention Strategies for 2016
Within the three stages of success – grabbing attention, selling your product and retention of customers – the last one is the most difficult. The problem with this these days is that it’s hard to stand out in 2016 and to be fair the browsing experience for consumers these days is a bit…noisy. Here is one of our favourite ways of retaining customers, inspired by eConsultancy:
So you know that 2.5 billion people have used at least one messaging app, right? Well apps such as WhatsApp have gathered a lot of attention but haven’t actually been used to advertise until now. The Chinese retailer Tmall started using WeChat to give shoppers the opportunity to browse its stock directly from the app. They redirected consumers to their store within the app and saw 52% of their traffic originate from WeChat, illustrating it was actually a useful move. You can get on board with this by offering your username on each app when they sign up for loyalty programs, and then you have the opportunity to reach them directly on their phone. It can be used to keep in touch with them, to send out discount codes and more. Try it out – why not?
Twitter is Out to Improve Customer-Brand Conversations
A lot of the time, customers use Twitter to vent their frustrations with brands and this is public, and sometimes a bit embarrassing for brands. But now, Twitter is making it easier for retailers to resolve these issues privately and to gather feedback. One of these features is the ‘Send a Private Message’ button to their feeds, meaning consumers no longer need to post publicly and can get the advice or resolution they need in private. Ian Cairns, the product manager stated in a blog post that 80% of inbound social customer service requests happen on Twitter. Fixing issues quickly and effectively (which is what shoppers are hoping for by using Twitter) is the best way to improve brand loyalty and sales. Twitter is currently working with companies such as Lithium, Hootsuite, Sprinklr and Sprout Social to make this a proper reality.