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Millennials driving change in marketing, and it’s time everyone catches back up

(MARKETING NEWS) Spoiler alert: baby boomers aren’t using social media for marketing and are losing business.

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Millennial marketing media blitz

Millennials are in the driver’s seat these days redefining small and medium-sized business marketing strategy. Twelve years ago, a new generation came of age simultaneously with the internet. That generation has had access to the incredible technology of the new millennium, in addition to the symbiotic development of the two.

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Millennials’ quotidian technology expertise has resulted in a new business-marketing avenue.

Top of the list

Global communication has exploded in the last decade; with Facebook at the forefront, YouTube, Twitter, and Instagram have become the top social networking and media outlets in the world. By September 2016, all four websites were ranked in the top 15 internationally most-visited sites, with YouTube and Facebook second only to the information monolith Google.

Millennials have matured into executives with deciding and staying power, and they’re using the same digital platforms for work that they use in their daily personal lives.

Schooling their elders

Recent studies by Magisto show a stark contrast in marketing trends between millennials and baby boomers.

Spoiler alert: baby boomers aren’t using social media for marketing and are losing business.

Everything is available and immediately accessible online; it makes sense that digital and online media should be at the core of any marketing strategy. Millennials are spending on average 50 percent of their marketing budget on digital and mobile media, while baby boomers spend on average around 10 percent. An interesting shift given the mid-2000s that dominated baby boomers’ interest.

That number is so low because 53 percent of boomers don’t test the effectiveness of digital media. That lack of curiosity is to their detriment, because 2016 is the first year digital media advertising budgets surpassed other methods, according to eMarketer.

The rationale is in the numbers: a staggering 68 percent of millennials depend on social media advertising for brand awareness. And the technology-first generation is only growing.

If at first you don’t succeed

Last year, Newsweek wrote about “failing fast”, or the idea that you pick yourself up from your failures, digest the lesson learned, and pivot to become more effective.

It’s a tool that has been extremely popular in tech to create a culture of super fast startups. Steve Jobs is a popular barometer of failing fast for his willingness to continue creating and developing on top of his business failures within tech.

Millennials have embraced the trend, and are using digital media popularity to forecast brand success at a rate more than 3 times that of their boomer-aged colleagues. If the marketing isn’t instantly successful, millennials are flexible enough to create another media variation until something sticks.

One of the most effective media tools is digital video. Twice as many millennials are investing creative funds in variations of video advertisements, shorts that can be tested on digital platforms and easily swapped out for something that might yield more reception. And while millennials at smaller companies list cost as their main limitation for creating videos and digital media, baby boomers cite time. The learning curve grows steeper as technology changes exponentially.

The takeaway

Marketing is changing for the better. All the tools to create digital media are online, and so are all the customers. Millennials have completely commoditized the networking experience—and with billions of people accessing information every moment, these platforms become a veritable treasure trove of digital marketing. Now is the time to add your company’s digital voice.

#MarketingMoves

Becky Nathanson is a Staff Writer at The American Genius. She has a Master’s degree in music from Indiana University and a Bachelor’s degree in music and creative writing from the University of Michigan. In addition to writing, she has performed as an opera singer on major international stages. When she isn’t making her voice heard by pen or in song, she is a serious amateur chef.

Real Estate Marketing

LinkTree is one of many tools social marketers need

(MARKETING NEWS) When it comes to social media marketing, there are ways to get more coverage than just your feed — linktree is one of them.

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If you’re a marketer, especially in any sort of lifestyle or cultural space, the benefits of Instagram are undeniable. From its visual format to its fast-growing user base, Instagram is becoming a go-to visual media platform in an era where audiences are eager for it.

There’s just one problem; turning that attention into engagement is difficult. Links back to stories can only be shared in your profile bio, instead of within specific posts. For content marketers and publishers, changing out links at least once a day can be a hassle.

Thankfully, there are tools out there to help overcome these issues, no matter what your budget might be. We can look at LinkTree and LikeShop for two distinct examples of that range.

Both tools offer a standalone web page, with its own URL, where users can access an assortment of articles from a publisher. Each article is linked using a picture that a user would see on the publisher’s Instagram, and the user can access a historical archive of all articles in one place.

Best of all, you never have to change out a link in your profile; much like a custom URL shortener, your users can access the content you want them to see through one single URL.

Logistical benefits aside, publishers also enjoy data feedback through LikeShop and LinkTree. Depending on the tool used, you can see traffic numbers broken down by article, by day, etc.

These tools also allow you to customize the visuals and templates of your landing page, so that your brand experience is more consistent across these social media touch points.

LikeShop has been around for a while as an enterprise solution.

You can find its technology employed by Conde Nast publishers, such as Pitchfork and Vanity Fair, along with a host of others. As such, pricing isn’t openly disclosed, either on or off their website (that’s code for “it’s probably really expensive”).

However, it does have the most features of the two solutions. Mainly, Instagram publishers who push product can insert commercial links directly into their posts, to help increase conversions.

LinkTree is a newcomer to the game, and they are looking to bring a more affordable solution to market. In addition to offering a standalone free tier of service, they also offer a pro package for $6 per month. The pro plan gives you more customization and tracking options.

Whichever one works for you, these tools are a great investment for making your social media following engage with your website content, be it educational or commercial.

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Real Estate Marketing

Dark data may be the key to your locked potential

(MARKETING NEWS) The key to a solid marketing campaign could be dark data if anyone can figure out how to actually use it.

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One trend that marketers and entrepreneurs alike are trying to utilize is the mining of dark data from social media. It may sound like something a supervillain in a made-for-TV movie may use to “hack the mainframe,” but it may be the crux of your next marketing strategy.

Research firm Gartner defines dark data as “information assets organizations collect, process and store during regular business activities, but generally fail to use for other purposes.”

This data is frequently unstructured, making it difficult to utilize effectively. Structured data is easy to analyze, it populates spreadsheets after a customer enters their information on your website and other clear roads of analysis.

Unstructured data, in contrast, is information that may be collected but its not utilized effectively. Almost 90 percent of unstructured dark data falls through the cracks and is never put to use. One big source of unstructured data is social media posts.

Customers will share insights into your business and brand through their posts about their purchasing habits. This is frequently done through not just through the selfie, but the captions associated with the photo as well.

A picture can tell a lot of information to people (what times of items you sell, their quality, and their overall experience) but the caption can help you understand more what their attitude towards those events are.

A picture may show an attractively plated meal, but the caption may talk about how there was a long wait for the food as well as poor customer service. These captions, and subsequent comments, can offer a keen insight into what people like and dislike about your brand called sentiment analysis.

Sentiment analysis can be utilized to understand attitudes toward your brand, and there’s multiple ways you can go about this. One method of analysis is through the building of word clouds which examine the most used words in a few days of dark data. Pro-marketers can easily pull dark data from those who like or follow a business’ social pages into software which can do the legwork for you.

Small business owners have some options that are less sophisticated but can still do sentiment analysis of dark data effectively.

The IProspect blog suggests to use “a blend of monitoring tools,” many of them free, to complete a sentiment analysis.

A better understanding of dark data means you aren’t limited to just basic social media analysis tools. With these concepts, you too can illuminate your dark data and shine some light on future prospects.

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Real Estate Marketing

NAR’s ad campaign about Realtors must be better because it’s on a roll

(MARKETING NEWS) The NAR’s Get Realtor ad campaign has been live for a few months now and though there aren’t concrete metrics, overall reception is A ++.

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The National Association of Realtors (NAR) wants you to not only just choose their members to sell you a home, but to change the public perception of who a Realtor is through their newest ad campaign. The NAR communications team says that the aim of the campaign is to “reimagine the R®” and to bring brand awareness to Millennials in particular, as the next generation of homebuyers “in today’s hyper-connected world.”

The Real Daily wrote about this advertising campaign launched in June, so we thought it would be great to check in with how the campaign is doing so far. Sara Wiskerchen, Managing Director, Media Communications at NAR told us that due to the campaign’s launch in June, the NAR does not have many hard metrics on it. However, they did say that first impressions of the campaign from Realtors and consumers alike was very positive and that there was a “significant lift in brand awareness and consumer intention to use a Realtor.”

The Real Daily reached out to several of our readers (7 Realtors, 3 brokers, and 11 consumers) and the response was extremely positive. One reader expressed that the campaign does more to modernize the Realtor and their line of work more so than “brand than any other in the past, and they were pleased with it.” A different consumer said watching them made Realtors more “relatable” instead of uptight and “unapproachably buttoned up.”

Throughout these spots, there is a theme of making the consumer aware that a Realtor is helpful for achieving the American dream of homeownership and that while homebuying is challenging, a Realtor can go above-and-beyond for making it happen.

“This campaign demonstrates how Realtors bring endless enthusiasm to the whole home buying ordeal.”

Big changes are sweeping the NAR, from the attempt to modernize their association through this campaign to the appointment of new CEO Bob Goldberg, still fresh in his first 100 days in the corner office. This trade association is committed to integrating itself into the American home buying process and is listening to the consumer to do it. “Getting Realtor” has never seemed so hip.

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