Marketing to Millennials: “Story Selling” Is Key

"Brands must go beyond traditional tactics to connect with this key demographic."

There’s a lot of buzz in almost every circle about the Millennial generation—those born between 1978 and 1995—and for good reason. They are spending money in a big way and, if you market to them right, they’ll spend it eating out.

The numbers don’t lie. Millennials spend more per capita in restaurants than any other generation, according to Restaurant Marketing Labs. But the type of experience they prefer can be a bit of a moving target. While sit-down restaurant visits by this demographic are dwindling, according to Time, takeout is on the rise, particularly for healthy options that highlight all-natural and organic offerings. Moreover, Millennials are more likely than previous generations to go for takeout than groceries. This may partly explain why in May, overall restaurant sales surpassed grocery stores for the first time ever, according to the National Restaurant Association.

It’s not just the product offerings that will need to change if restaurants wish to entice Millennials. Marketing to this generation is quite different. One-directional communications through a singular communication platform won’t cut it with this crowd. They use multiple platforms, and while television is still important, they rely on it is less than other groups. Moreover, this new demographic requires more personal connections with eateries, which can be increasingly leveraged through social media, as well mobile and email marketing.

Beyond using multiple forms of communication, you must also consider what you convey to Millennials. Restaurants can’t simply blast their products and services over the airwaves, touting the best selection at the lowest prices and get Millennials to respond favorably. These consumers look for eating establishments to demonstrate how their place fosters "everyday celebrations” as a means to connect and share experiences together.

"The social value of eateries to Millennials is more dependent on the backstory of how the experience fits into their desire for a balanced lifestyle than the price for which the products are offered."

One of the other things that makes this generation unique is how much more driven they are than Gen X or Baby Boomers to their social, photo-driven culture. The notion of “being there” is a natural motivator for Millennials. Restaurants will have to demonstrate to this consumer demographic base how their offerings and experience—be it take out, sit down, or both—helps them complete the picture.

And herein lies the rub. The social value of eateries to Millennials is more dependent on the backstory of how the experience fits into their desire for a balanced lifestyle than the price for which the products are offered. This gives Millennials something to share and talk about with their friends. In turn, restaurants must respond with a concept called “Story selling,” in which every product has something important to add to the conversation and experience of the customer.

For many in this industry, this strategic marketing shift may require some retooling of tactics and techniques, both on the promotion and evaluation side. The number of ways eateries can measure the success of these initiatives is plentiful. The trick will be to look at the right information and take effective action to acquire, engage, convert, and retain customers. Make no mistake, though: Millennials are the dominant customer segment in the restaurant industry, and there’s good money to be had to those who act to engage this consumer group effectively.

Source: https://www.qsrmagazine.com/outside-insights/marketing-millennials-story-selling-key

Why No One Is Reading Your Marketing Content

Marketing in a digital economy is more difficult now than it was in the days of mass media. Then, big budgets and strong messages were enough to get consumers to remember you. Today, not only have audiences fragmented, requiring a more targeted approach, but digital activity is tracked — so even if you succeed in building brand awareness, your rivals retarget those consumers with competing offers.

That’s why many brands have turned to content. Rather than paying to be sandwiched within ad breaks and between editorial pages, content marketing lets brands communicate directly with consumers. Unfortunately though, the result is all too often a longer-form version of the same old ads. Marketers need to change their approach. Here are four questions that will help you create a viable strategy:

1. Why do you need content? In an overview of the subject, the Content Marketing Institute explains that marketers need content because, “traditional marketing is becoming less and less effective by the minute.” That may be true, but it doesn’t explain why content is the answer. In fact, it is exactly that line of thinking which makes it difficult for marketers to succeed.

Traditional marketing, which was heavily skewed to broadcast media, worked because it allowed marketers to reach a lot of people in a short amount of time at very low cost. Content does neither, so it’s hard to see how anyone could possibly replace a traditional broadcast strategy with a content strategy.

On the other hand, today’s digital environment does allow marketers to communicate directly with customers, partners, and the general public in a way that wasn’t possible before. It reaches fewer people and takes more time than a traditional broadcast strategy, but it also opens up exciting new possibilities to create greater engagement.

Clearly, the solution to an ineffective 30-second TV spot is not ineffective 10-minute videos. So don’t treat content as a long-form version of an ad campaign. Think seriously about what it is you expect to achieve. If the only reason that you are doing content is to replace traditional marketing efforts, you are almost certain to fail.

2. What value are you offering for exchange? The main advantage of content is that, when done effectively, people see it as  an exchange of value rather than an interruption. It offers the resources and expertise of an enterprise to customers and partners in a way that holds their attention and builds an ongoing relationship.

For example, Nike leverages its relationship with top athletes to create compelling videos that millions love to watch and share with their friends. American Express offers its customers expert business advice on its Open Forum. The Institute For Advanced Study invites some of the world’s top scholars to give personal accounts of their groundbreaking work.

So the first principle of any effective content strategy is to be clear on what value you are offering. Are there relationships you can leverage like Nike does? Are you offering advice, like American Express? Can you offer access to world-class experts, like The Institute For Advanced Study?

Notice how this approach is diametrically opposed to a traditional marketing campaign. Marketers have been trained to be consumer focused. But successful producers and publishers are mission focused and that makes all the difference.

3. What’s your anchor? A traditional ad campaign has a defined beginning and an end. When it’s over, you compare the results to your initial goals to determine whether it’s successful or not. Successful content efforts, on the other hand, are open ended and often run for years. They must transcend changes in the marketplace, the audience and even the personnel who initiate it.

That’s why it’s important to anchor your concept. In  Made to Stick, Chip and Dan Heath note that Hollywood films anchor through “high concept schemas,” like “Diehard on a bus” for the hit film Speed, or “Jaws on a spaceship” for Alien. In much the same way, Lifemagazine was the “showbook of the world” and Cosmopolitan is “fun, fearless and female.”

Notice how the consumer target is implied—you certainly wouldn’t market “Jaws on a spaceship” to toddlers—but not a primary focus. What’s essential is the editorial and creative mission. “Diehard on a bus,” seeks to be exciting. A “showbook for the world” conveys understanding through pictures. “Fun, fearless and female” inspires confidence.

It is only through anchoring a concept that you can create a consistent experience that your audience can relate to. That’s how you hold their attention.

4. What type of experience do you want to deliver? Traditional marketing campaigns rely on popular programing to build an audience. Brand publishers, on the other hand, need to hold the audience’s attention by their own merits. To create material that people will want to read or watch, marketers need to shift their emphasis from crafting messages to creating experiences..

Most marketers have become aware of the importance of user experience in products and websites, but ignore it when it comes to publishing and producing. Instead, they fall back on traditional marketing conventions such as targeting and messaging. That may work for a 30-second spot or half-page ad, but is less effective for creating a compelling experience.

Successful publishers pay close attention to their things like format, structure, and voice. It goes without saying that you write a different article for a daily newspaper than you would for a feature in a magazine, just as you would approach a TV pilot differently than you would a full length film.  Delivering a consistent experience matters, and successful content efforts put significant effort into creating and documenting standards.

Magazines have “brand bibles” that clearly define architecture, voice, and pacing. Radio stations run on clocks.  TV shows have clearly defined story structures, character arcs, and so on.  These rules not only set audience expectations and make content easier to take in and enjoy, but also form the crucial constraints in which creativity can thrive.

So instead of thinking about content as just another marketing ploy, think seriously about the experience you want to deliver, almost as if you were inviting customers into your operation. The experience you create for them will be what they remember — and determine whether they ever want to come back again.

Source : https://hbr.org/2015/12/why-no-one-is-reading-your-white-paper

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