INTRODUCTION

Marketing in todays world

Marketing in today’s world is not the same as it was 5, 10, even 30 years
ago. Today society is so engulfed with technology and has the need to be
connected at all times. Our society has developed FOMO or Fear of Missing
Out. And just how are we staying connected? Through technology! A survey
done by pewinternet.org shows that “95% of people – now own a cellphone of
some kind. The share of Americans that own smartphones are now 77%, up
from just 35% from a survey done in 2011.” The technology era can be a
challenge for those that are in the field of marketing. Being connected at all
times gives the consumer the opportunity to be tempted by hundreds of
different products within a matter of minutes. According to StopAd Blog, “the
average modern person is exposed to around 5,000 ads per day.”
The world of marketing has evolved and is no longer your mother’s
marketing. The newspaper and magazine advertisements are not near as
effective as it was 30 years ago when 62,695,000 people in the United States
subscribed to a daily newspaper. In today’s world, the number of newspaper
subscribers has been cut in half. Information provided
from journalism.org show an increase of visitors to popular newspaper
websites has risen to close to 12,000,000. So what does all this mean? This
means that as a company you have to look for unique ways to market your
product that outdo the other 4,999 advertisements that are out there waiting
for consumers.

Understanding the different generations

We hear about Millennials, Generation X, and the Baby Boomers all the
time, but it is not easy to clearly understand them respectively. In fact, all
of these terms are fairly unofficial social constructs outside of the
Boomers—the U.S. Census actually defines them as the generation of
people born between 1946 and 1964. Now, the Pew Research Center has
given it a more suitable structure with a new set of guidelines that
establishes where each person belongs depending on their birth year.
This is what they came up with:

 The Silent Generation: Born 1928-1945 (73-90 years old)

 Baby Boomers: Born 1946-1964 (54-72 years old)
 Generation X: Born 1965-1980 (38-53 years old)
 Millennials: Born 1981-1996 (22-37 years old)
 Post-Millennials: Born 1997-Present (0-21 years old)

Characteristics of millenials
 Millennials are Tech-Savvy- Generation Y grew up with technology, and
they rely on it to perform their jobs better. Armed with smartphones,
laptops, and other gadgets, this generation is plugged in 24/7. They like
to communicate through email, text messaging, and whatever new
social media platform (i.e., Twitter, Instagram) friends and colleagues
are using. This is a generation that can't even imagine a world without
the internet or cell phones.
 Millennials Are Family-Centric - The fast-track lifestyle has lost much of
its appeal for millennials. The members of this generation are willing to
trade high pay for fewer billable hours, flexible schedules, and a better
work/life balance. Although older generations may view this attitude as
narcissistic or see it as a lack of commitment, discipline, and drive,
Millennials have a different idea of workplace expectations. Millennials
usually prioritize family over work, and even those who aren't married
with children feel the need to be a part of a family and spend time with
nieces, nephews, and siblings.
 Millennials Are Achievement-Oriented- Nurtured and pampered by
parents who didn't want to make the mistakes of the previous
generation, millennials are confident, ambitious, and achievement-
oriented. They also have high expectations of their employers, tend to
seek new challenges at work, and aren't afraid to question authority.
Generation Y wants meaningful work and a solid learning curve.
 Millennials are Team-Oriented- While growing up, most Millennial boys
and girls participated in team sports, playgroups, and other group
activities, whether it was soccer or ballet. They value teamwork and
seek the input and affirmation of others. Millennials are the true no-
 person-left-behind generation, loyal and committed. They want to be
included and involved.
 Generation Y Craves Attention- Generation Y craves feedback and
guidance. They appreciate being kept in the loop and often need
frequent praise and reassurance. Millennials may benefit greatly from
mentors who can help guide and develop their talents. This is where the
boomers come in handy because (though mostly retired), they have
something to offer and see mentoring millennials is one way they can
continue to contribute to the workforce.
 Generation Y Is Prone to Job-Hopping- A potential downside of
Generation Y workers is that they're always looking for something new
and better. It's not uncommon for a millennial to stay with a firm for
only two or three years before moving on to a position they think is
better. The resumes you receive from millennial job seekers will
undoubtedly demonstrate this peppered job history.
 Challenges in marketing new products to millenials:

1. Communication

10 -15 years ago there were limited channels of communication where

public(consumer) seek information. In Sri Lanka during the early to mid 90's
there would have been 2-3 TV channels and about 4-5 radio stations in each
language and may be 03 main news papers which people read. Fast forward to
2008, and you find there are over 14 terrestrial TV channels, several Satellite
TV players who expose consumers to over 80 or so different channels and you
find Western Province alone having 30 odd Radio stations with many regional
Radio stations while newspapers and publications have also mushroomed in
significant proportions.

Given this scenario it is clear that consumer communication channels are

fragmented. Those days to reach your core target audience a company had
only to focus on running adverts on may be couple of TV programs, radio
programs and several papers. However to reach the same audience a
marketers have to choose among equally competing programs in multiple
channels. Whilst the process and industry has grown to cater to this demand it
is fair to say that no single company has mastered this art of optimising given
the present levels of fragmentation.

New media such as Internet, e-mail and mobile phone based have also evolved
which are also in the process of establishing methodologies. However given
the rate at which obsoleting happens in these spheres marketers find it
difficult to keep abreast of efficient methods of using such technologies. For
example when Internet penetration levels are becoming worthwhile
in Sri Lanka world is moving past typical banner advertising to more web 2.0
driven methods such as blogs etc which are considered more relevant
in todays era.

2. Profiling the customer him/herself

Modern day consumer who is exposed to many things as a result of this

exponential technological advances which is never seen in the history of
the mankind is becoming more and more educated, matured by the minute.
(S)he is evermore so demanding. Armed with knowledge the consumer is
seeking customised product / service offering in every encounter. They are
willing change service providers with slight failure to do so. shifting has
become so much easy. Thus the marketers have a unique challenge of making
use of technology to understand shoppers individually and catering to those
requirements.

3. Regulatory developments and legal barriers

Legal framework has never been so stringent. From a global point of view
legislation such as privacy laws, intellectual property laws create significant
pressure on making use of technologies such as internet, SMS etc and also
creativity.

Even in Sri Lanka recent developments such as NATA bill have made both
tobacco and alcohol industries curtail their marketing operations. Industry
professionals world over who are faced with these challenges are compelled
look at various other alternatives and it had changed marketing focus
dramatically from unusual methods such as societal marketing etc.

Similarly laws and supreme court judgements regarding noise or

sound pollution have pushed marketers abandon some of the most successful
execution methods that they've been practicing for ages and go in search of
alternatives which are yet to be found. Further these have created significant
pressure on budgets.

4. Pressure on accountability

Whilst the phenomena is not new, there is increased pressure from various
stakeholders and especially shareholders that marketers should be more
accountable for their budgets. For example they seek tangible results for every
marketing activity/ expenditure. Whilst it is indeed a step in the right
direction it has challenged marketers to tangibalise their action in such a
manner which is acceptable to various stakeholders.

5. Evolving organizational role

Marketing is being embraced more and more as a business philosophy across
the board which creates even more challenges to maketers on their evolving
role. From a mere division which had specific role to play like any
other division now they are required to establish themselves in a new world
where everybody in the company is a marketer with their marketing ideas.
Connecting with the millenials
Experience maybe one thing and can help the customers connect with the
company but lets look into other important requisites as well:

1. Live Your Brand Story

Purposeful or meaningful brands often have an edge when it comes to

attracting millennial consumers; however, millennials can easily see through
marketing hype and traditional branding. Brands will need to show proof they
are living their story and mission.

2. Seeking Adventure

Millennials are always looking for an adventure, whether from new

experiences or products and tend to share their excitement over social media.
Millennials are willing to pay a premium for these experiences or products as
well.

3. Culture of Content

Millennials consume content about your brand or business from third-party

websites, social media, your website, and anywhere else. They are much more
likely to believe content versus traditional ads.

4. Frictionless Journey

Millennials hate friction in the buyer journey. You want to make that journey
as easy as possible when it comes to exploring products, reading content,
purchasing, or sharing on social media afterward.

5. Pure Affirmation

Modern consumers regularly tap their network of friends and family before
making purchasing decisions. Peers tend to substitute as experts.

6. Transparency

Millennials tend to distrust large institutions, so they put a huge priority on

brands that are transparent. Owning your mistakes as a brand can be an
opportunity to show improvements.
7. Marrying Data

Not all of your customers are alike. Tomorrow’s brands will start appending
customer data to social media data to ultimately find their most active,
influential customers. Ultimately, modern consumers are happy to share data
so long as you are improving their brand experience with it.

8. Hacking

The big winners in today’s brands are hacking common customer pain points
through disruptive or “blue ocean” innovations. Companies like Uber and
Dollar Shave Club have become successful by attacking a major pain point.

9. Empathy

The fastest way to discover these common pain points is empathy. Treat
others the way they want to be treated.

10. Helpful and Collaborative

Modern consumers prefer to feel like they are in collaborative relationships

with brands. To that end, brands should operate more as trusted advisors
rather than gatekeepers. You want to offer helpful, personalized content for
customers.

11. The Amazon Effect

Consumers’ expectations have changed in favor of constant innovation,

constant improvements in speed, constant decreases in delivery costs, and the
ability to choose what they want when they want it.
Strategies and measures to reach and market products to
millenials
The various emerging strategies for marketeing product to millenials are as
follows:

1. Millennials want to connect with brands through content.

Millenials do not trust traditional advertising due to which inbound marketing

has become a must for any brand that is trying to reach and convert millennial
consumers. Content marketing here helps in building the trust with the
millennial consumers, making quality content easy to reach the population.
Millennials want to engage with authentic brand messages and stories that
help them better understand their challenges and also get to know who a
company is and what they stand for.

Content marketing gives the brand opportunity to make real connections with
the target millennial buyers. By consistently publishing quality content on the
website or blog, it helps in educating the audience while demonstrating the
industry expertise. Additionally, giving the opportunity to show brand’s
personality and voice through the tone and topics of company’s content.

Blog content plays an important role in helping the company reach millennial
buyers. One in three millennials uses blog content to get the information they
need before making a purchase. By consistently publishing content that adds
value for these consumers, the company can start to build relationship with
these buyers and work on converting one-time customers into lifetime brand
advocates.

2. Online customer reviews matter.

Millenials are known to follow only the brands that they trust. They like to
establish an emotional connection with the product or brand first before
deciding to buy it. That’s why the company should not push their brand in an
obvious manner to get their attention. Rather, it should do it in a way that will
build an emotional connection with them. Use real people to show real results.
Telling them stories about the product, brand’s values and how it changed
lives of people across the world. One way to do it is through online reviews.
Brand needs to emphasize positive online reviews. For millennials, online
reviews have become the new word-of-mouth marketing. HubSpot reports
that 84% of consumers will do their research online before making a
purchase, and 70% of these consumers read online reviews before they buy.

3. Mobile-friendly is no longer optional.

Mobile site design is another vital aspect of successfully marketing to

millennials. If millennials are part of the target audience then it is important
that the site and content is optimized for mobile devices. This generation
includes the largest group of regularly active mobile device users. Nielsen
reports that 98% of millennials aged 18-24 and 97% of millennials aged 25-34
own and use a smartphone regularly.

And these consumers are using their phones to research products and
services online and make purchases. Google has found that 66% of millennials
believe that the information they find on their mobile device is just as accurate
and thorough as the information they find on their desktop. This means that if
a millennial consumer stumbles upon a website that’s not optimized for their
device, they will most likely take their business elsewhere.

4. Get social.

The millennial population is one of the most connected generations around.

To stay connected with their friends, family, and colleagues, millennials are
very active on social media channels like Facebook and Instagram. In fact,
according to Nielsen, the app most often accessed by millennial smartphone
users is Facebook, with the Facebook messenger app close behind. If company
wants to connect with millennial consumers, they need to reach them where
they are and engage with them in ways that they prefer. With social media
taking up so much of the millennial consumer’s online time, it’s important for
businesses to use these channels to build their brand, cultivate trust, drive
engagement, and even boost sales. This is especially true given that millennial
buyers are more likely to engage with and buy from brands that use social
media.

5. Find ways to collaborate.

Given that most millennials are interested in experiences, it should come as no
surprise that they favor collaboration when it comes to interacting with
brands. This desire to be a part of the action can be very beneficial to brands
that are always looking for new opportunities to provide better products and
services.

The company takes advantage of this desire by collaborating with influencers .

by partnering with an influencer with a significant blog or social media
following, the company not only creates a space for collaboration, but also
attracts their engaged audience. Collaborating with influencers can help in
building trust with new millennial audiences.

6. Utilize EBC Content and Amazon Storefronts

Millennials want to know if the company has a greater mission as a

business. Amazon Storefronts and Enhanced Brand Content serve as an
excellent way to elaborate on the story and mission. Here, the companies can
mention any charitable endeavors and deploy unique brand storytelling. The
company can show their struggles and how they reached their mission with
updates via social media, blog, or on YouTube.

7. Innovate with Amazon’s Services

Millennials like products or services that are innovative, the Amazon effect.
Both Amazon’s dash button and subscription services can help separate a
company from its competitors. Also, discounts can add up if you run a
promotion on a product that is part of a “subscribe and save” box.

Conclusion
Swiggy has successfully connected with the millenials. They also made an
impact by selling their success story and also by delivering the customers
their needs. Millennials are a powerful market when it comes to buying power
and influence. If a business is trying to target these buyers, it is important to
keep in mind the ways that they are different from other generations. By
understanding their purchasing process and getting to know what types of
marketing they prefer, the company can adjust their digital marketing
strategy to better engage these buyers.
Millennials is the most powerful market forces in e-commerce today. In fact,
according to Morgan Stanley, millennials have reached “the most important
age range for economic activity.” As they grow older, this generation is
expected to spend more on settling down in addition to going out.

Even if the idea of appealing to an entire generation is a bit simplistic, a

company can learn how to create more refined marketing strategies that can
relate the company’s mission and products to the particular slice of
millennials who are present customers. The sooner the company appeal to
them , the faster it can capture new revenue and grow.
And most of the startup reflect one story if a company can provide ease to the
buyers and save their time they are more likely to be successful.