Marketing to Millennials and the Significant ROI They Can Bring Your Firm
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WEBINAR MILLENNIALS
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Transcript of Marketing to Millennials and the Significant ROI They Can Bring Your Firm
WEBINARMILLENNIALS
OUR SPEAKERS
Alex DodgeAccount Director
Kate StrombergMarketing [email protected]
Emily FrickeyDirector of Digital Operations
Understanding
Millennials and the
Significant ROI
They Can Generate
for Your Law FirmROI
“Brands need to stop waiting for Millennials
to “grow up” and fall in line with what past
generations have done. A lot of them already have;
it just looks different than it did in the past. Brands
and marketers need to shift and adapt to this reality,
instead of waiting for one that won’t come true.”
- Katie Elfering, a CEB Iconoculture consumer strategist and Forbes’ resident expert on Millennials
Biggest living generation in U.S. history
Projected population by generation
In millions
Note: Millenials refers
to the population ages
18 to 34 as of 2015.
Source: Pew Research Center tabulations of U.S. Census Bureau population
projections released December 2014 and 2015 population estimates. PEW RESEARCH CENTER
90
70
50
30
10
2015 2028 2036
Millennial
Gen x
Boomer
Silent
7581
66 65
28
2050
Millennial spending power by 2020:
$1.4TRILLION
Millennials care about VALUE
• “Value” defined as:
- How is your law firm making lives better?
- How is your brand contributing or adding value on a
larger scale?
• 61% of Millennials are worried about the state of the world
and feel personally responsible to make a difference. This
means that Millennials view your brand as an extension of
their own values and status. – The Huffington Post
Why Millennials care about VALUE• Events that shaped our outlook
- 9/11
- The Recession
- Housing Collapse
- Climate Change
- Corporate deception and greed
(ex. Enron)
Millennials care about EXPERIENCES
• Experiential rewards: a powerful
engagement and loyalty tool which
can have a strong bottom line
impact—customers directly link
their memorable experiences with
your brand, creating a lasting bond.
• Memories create a lasting value,
they are also sharable
Millennials are “Digital Natives”
• Definition: The generation
of people born during or
after the rise of digital
technologies
• Millennials draw no
practical distinction
between online and offline
A steep technology curve: from radios to Pokemon Go
T IME IT TOOK TO REACH 50 MILL ION USERS
RADIO
TV
POKEMONGO
38 YEARS
13 YEARS
18 MONTHS
15 DAYS
Leverage these
“differences” to
start reaching the
millennials in your
market!
• 73% of people in the U.S.
say that a bad website
negatively impacts their
opinion of the brand.
Marketing Mix: Web
• The rise of social
media platforms
puts the consumer
in charge of your
messaging.
Marketing Mix: Social Media
• Millennials spend money
on experiences – which, in
turn, create social moments
and sharable memories.
Marketing Mix: Event Sponsorships/Experiential Marketing
• Millennials expect brands
to give back to society
- Statistics show 75%
feel it’s either fairly or
very important that a
company gives back to
society instead of just
making a profit.
Corporate Social Responsibility (CSR)
• Leverage pieces of sharable content – videos, infographics,
etc. – on your website that add value/enhance the customer
experience with your services. Give them more opportunities
to create a deep connection with your brand.
- In addition, make sure to use closed captioning so that all
your content is available to everyone!
TAKEAWAYS AND ACTION ITEMS
• Make sure Millennials feel informed by and involved with
your brand, not just marketed to understand and speak
to the values that drive them — happiness, passion,
diversity, experience, sharing and discovery.
TAKEAWAYS AND ACTION ITEMS
TAKEAWAYS AND ACTION ITEMS
• Feature Millennials and their values in your messaging
- Shoot testimonials featuring millennial clients
- Focus messaging on your mobile response unit, customer
service/convenience, ability to text to communicate, etc —
leverage your firm’s ability to communicate and serve via
immediate response technology.
• Go above and beyond to ensure all clients and potential
clients are getting the best experience possible
• Remember, brand loyalty isn’t dead. Turn Millennials into
your Brand Ambassadors!
• While most firms are ignoring this demographic, make
a conscious effort to start reaching them! Make your
message to Millennials stand out – you won’t regret it.
TAKEAWAYS AND ACTION ITEMS
QUESTIONS FOR OUR SPEAKERS
Alex DodgeAccount Director
Kate StrombergMarketing [email protected]
Emily FrickeyDirector of Digital Operations
Free download of our Marketing to Millenials Guide here:
netaff.com/resources/#ntl
THANK YOU FOR ATTENDING!
