If your product is online, chances are your target audience is a millennial. Insane sums of marketing dollars are spent every year trying to capture the attention of those born post 1984. From spending patterns to retail buying behaviour, everyone’s dying to get and keep their attention. Just how should your brand stand out from the noise and build loyalty with millennials?
We are lucky to be living in a completely digitally-immersed world – one where this generation can easily be influenced by marketing professionals, brands and campaigns sharing values, ideas and stories via the World Wide Web. This has made us believe social media marketing is dead and buried. In truth, brands are required to pay more attention to engaging and informative content as a driver of Millennial participation and love.
The major issue? Ninety percent of digital marketers all feel it is clinical to have a brand content strategy, according to eConsultancy. In reality just 38 percent of online brands have one in place.
Promoting your offering and brand is undoubtedly important. However now is the time for brands to reimagine content as their one key chance for the brand’s voice to live everywhere – even beyond your offerings. Here starts your long-lasting relationship and impactful brand loyalty wrapped within a powerful content strategy infiltrating each aspect of the brand – internally and externally. Within CEO circles this is known as a brand’s Editorial Authority.
Your brand and its Editorial Authority
Editorial Authority refers to the framework by which relevant conversations around consumers is created. This is based on topics they invest in and are willing to share. Being the foundation of your brand’s overall content strategy, Editorial Authority enables companies to put in place content pillars to identify where true opportunity lies and take part in the right conversations beyond just your product’s benefits in a millennial’s hands.
When content is brought up, it is about the communication with which millennials choose to spend their time. The standard definition of content gets changed from something brands produce to something a lot more valuable – an engagement tool. Editorial Authority can be described as your brand’s magazine. Looking at the contents page, you find the features. These needs to be true to your brand, great for business and always be relevant to your consumers and environment extensively. After all, only content that dares to venture outside products and services will be consumed by millennials.
Establishing Editorial Authority is no easy feat. It could not be your brand’s first strategic marketing step. Brands must first determine core ideals, the most commonly occurring consumer needs they can address and the cultural relevancy they possess for being sustainable within the current market.
The need for three tenets?
One, brands ideas form the core of everything associated with a brand. The brand idea becomes the long-term proposition driving forward the strategy entirely. Each action is guided and inspired by the brand idea. Campaigns start and end, however, brand ideas exist for many years.
Two, the best brands are known to solve consumer problems prior to consumers knowing they have them. Example: Netflix. Majority of consumers could not distinctly state their issue regarding late fees at their video store until Netflix created the solution. Pay when you order your next movie. By creating the solution Netflix could capture consumer attention from the get go and execute it through advances in tech.
Third, cultural relevancy is equity building for your brand within the target audience. Minus equity, millennials will have no issues leaving your brand for the next hot thing arriving in the market. The goal for your brand is determining the overlap between consumer and brand culture.
Determining the factors above requires time investment, with no perfected formula of the exact steps to be taken by brands in order to achieve Editorial Authority. In the end, each brand is unique. There exist vastly different fans, products and messages. Here’s a few key tips for your brand and where it could begin its loyalty strategy:
The Modernization Method
If your brand is smart it would leverage historical relevance to learn more about the true engagement their most loyal fans engaged in in the past. Through history exploration and resource investment to understand what builds brand loyalty, they are capable of building a foundation of continuous relevancy. You ask yourself: how does our brand equity turn into an unfair advantage?
The Human Method
If your brand is capable of staying away from automating its communication strategy, it’s half the war won. Just by adhering to traditional mass marketing methods, brands will miss out on valuable 1 on 1 connections with millennials they engage. The highly inspired brands in the market quickly realize the paradigm shift and work on leveraging humanistic approaches towards marketing. This defines their Editorial Authority. Millennials want to hear about what truly matters to them – minus all the fluff defining traditional marketing and advertising.
In order for your business to be salient and successful, you will need to treat your business model and brand idea as the same. Think from the inside-out, using this perspective. Such an approach is perfectly aligned with millennial demand for transparency. The more Millennial consumers see behind the curtain, the more they are enticed into buying your brand’s messages and actions.
Regardless of the founding tactic employed, understand and develop your brand’s Editorial Authority to get ahead of the competition and in front of millennials. Your strong grasp of Editiorial Authority gives your brand the tools to identify the right conversations to which value can be added. Hence your brand receives the much required resonance. https://media.giphy.com/media/j9uShoGtXBTA4/giphy.gifTags: brand, loyalty, millennial