In this episode of Become a Media Maven®, I speak with Chelsea Krost. Chelsea is an expert in marketing to millennials… and it’s important because millennials have the most spending power in the world.
She talks about how the older companies are trying to take their voice and change it to work online, thinking mobile first, and being on social media to engage the market.
How to Create a Millennial Marketing Strategy
Chelsea says the most common mistake people make when marketing to millennials is assuming we are all the same. We don’t like the same things, are not influenced by the same things, and do not purchase the same things.
In the 11th episode of Become a Media Maven®, Chelsea really goes into using a personal brand to get the known, like, and trust factor to build your business and why you should be doing this as an employee AND as an entrepreneur.
Something else that’s pretty cool – Chelsea gets world-renowned leaders across the globe to tweet with her and her audience for an hour on a particular topic every week. Yeah, we talk about that too!
In this episode, you’ll learn exactly how to create a millennial marketing strategy and so much more.
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In this episode of Become a Media Maven®, Chelsea Krost is talking about everything marketing and everything Millennial.
Who knew in 2007 the word “millennial” and that millennials we’re going to be such a powerful force to be reckoned with. I had such an itch that the next generation was going to be so different than the previous generation just because of all fights happening in social media and digital world. But I mean come on, who could have forecasted the last decade and the shift in the demand for us to really understand the millennial generation from a personal and consumer perspective?!
Why Millennials Have a Bad Reputation
You started working at a radio station when you were in high school here in South Florida and it really was to empower teenagers and to be like, “Hey, we’re not all bad.” However, many years later, we’re still saying, “Hey, not all millennials are bad.”
I know unfortunately some of the same narrative is happening. I think it comes with the territory whenever there’s the next generation in town. Soon, the next generation will be even more at the forefront… and I think we’re calling them Gen Z.
In 2007 when I was in high school, people like Paris Hilton, Nicole Richie, Britney Spears, and Lindsay Lohan were big. They were kind of like the Kardashians at the time, if you will. You could not escape them. They were doing cocaine. They were out, getting drunk, and making trouble… and this was the world’s image of the next generation. There was no such thing, as Facebook yet. It was in its infancy.
So, the visual of young entrepreneurs and young influencers wasn’t good because there wasn’t a platform for us yet. MTV was airing shows like 16 and Pregnant and it was just like a very dark and dreary time of “the teenager”.
My mentors on TV were people like Diane Sawyer, Barbara Walters, Katie Couric, and Oprah. They all started to talk about the next generation in such a negative way – down to the point where I remember watching The View and the tagline for the commercial was – our teenagers are officially the demise of the future. I just was so taken aback by that comment because all I could hear, was negative, negative, negative.
I said to myself, “Well, this isn’t empowering my peers. We are way more than, lazy, entitled, and narcissistic.” That was really the motivator behind putting together my first radio talk show which was a way to create a platform for my peers to have a voice, to share their opinion, to talk about topics that were relevant and that we were passionate about.
We needed an outlet to talk about things like:
- SATs and ACTs
- Body image issues
- Bullying and cyberbullying
There were so many terms and social issues that were starting to surface at that time. That was just further calling me to create a platform to finally have a place to talk about it amongst my generation. That was the motivator behind it all.
Why you Should be Marketing to Millennials
Based on your work over the years and all of your research, millennials – that person, they are the ones that every brand should be marketing to. Why?
You might feel like you’ve been hearing the term “millennial” for multiple years now, and that’s true. Five years ago when we first started to talk about these millennials, people were still wrapping their head around what a millennial was. The reality of how different this generation is is because of the way we grew up.
We were born into and had full access to a technology that no other generation had. Clearly, our mindset was going to be different. We are still trying to help baby boomers and Gen Xers wrap their head around the technology.
So now in 2018, if you’re not thinking millennial, if you don’t understand the millennial mindset, and if you’re not thinking about shaping your marketing strategies to appeal to this consumer group, you’re really, really hurting yourself more than helping yourself.
Here’s the reason why. Millennials are:
- The largest generation on the plant.
- Have the largest consumer spending power on the planet.
- Are getting older and becoming more financially stable.
Since we’re not getting younger, we are the next generation of consumers… even if we’re not necessarily your consumer quite yet.
Maybe your target demo is a bit older, but guess what? Millennials are getting older. So you have to start shaping your branding, your marketing, and your content marketing efforts to start including the younger audience. As we continue to age, we are further becoming acclimated and the trust factor is there with brands that we’re going to purchase later in life.
If you don’t have a digital footprint, if you don’t have a social presence, if you don’t have an optimized website today, a millennial is a lot less likely to trust your brand and trust spending their money with you.
It’s time to really start to take millennial consumers into consideration.
Niching Down to Market to Millennials Online
You cannot put millennials in a one size fits all box. First of all, we are a very broad age bracket. You know, we’re like in that 20 to 38 range, right?
So obviously what appeals to a 20-year-old right now is totally different than what a 30-year-old is going through. A stage of life, income priorities, mindset, etc.
You really have to understand the niche audiences within this millennial generation and refine your message to speak to the niche audience – that’s your consumer and that means that you have to be realistic in how millennials are spending their money.
Think about the sharing economy. Millennials are so savvy when it comes to shopping online and finding the best price and getting the biggest bang for their buck. So, these are all things in regards to a millennial mindset that we should be taking into consideration.
Think about this:
- Who is your customer?
- How do you create an ideal customer profile?
- Is it gender specific?
- Are you catering towards male versus female?
- What age range is your target customer?
- Are they in college or high school?
- A first time home buyer?
- Are they parents?
- Are they divorced?
- What stage of life are they in?
- And in that stage of life, what kind of income do these people have?
All of that information, all of those answers are going to reveal your audience demographics and helped also define and clarify where that person is on social media.
If you’re targeting a consumer in high school or college or younger, you know that you need to be on Snapchat and Instagram. If your target audience is in their mid-twenties to early thirties, they’re probably going to be on Instagram, Facebook, and Twitter. If you’re a GenX or Baby Boomer, you are probably going to be on Facebook and LinkedIn.
Understanding your audience demographics and the answers in your audience demographics will help to reveal where you should be on social media, what your marketing message should sound like, and then what your content marketing efforts should look like.
What Content to Create to Grab Millennials Attention
A big mistake that people make is they are just so overly promotional!
I will never deny that content marketing takes time. It takes patience. It takes creativity. It takes money. You know you must create videos and blog posts.
When I talk about marketing, messaging equals content. No matter where the content comes from – your blog, live stream, or even the content in this podcast right now. The content must be written out in the ad and then posted on social media sites.
This is what I mean by messaging. It’s the copy within the content that you are sharing to your audience and that copy, that text, is your marketing message.
The more you understand who you’re speaking to the clearer your message will be. When somebody speaks your language, you trust them quicker, you relate to them, you want to engage… versus someone who’s so not speaking your language or on your wavelengths.
That’s what I mean by structuring your marketing messaging to speak the language of your target customer.
If your customer is in college, obviously that language is going to be different than AARP who’s marketing messaging is to Gen Xers and baby boomers. So, it’s kind of like a simple “duh” moment.
It’s something that’s greatly overlooked and because content marketing is essential today, there’s no way to get around content marketing.
What to Post on Social Media to get Millennials Attention
Some marketing efforts are churning out an ROI (return on investment) and some are not because there’s a little bit of a science and a method and the formula that needs to be done prior to just pumping out your content. Don’t just post. Purposely post so that you can get results.
When I say purposefully post, that also means defining your objective and your goal. So we know who we are speaking to in our audience. We know what channels we need to be on to speak to our audience. So now, what is your objective and goal?
- Maybe you’re looking to grow your followers on social media?
- You could be looking to increase video views?
- Another goal could be looking to increase your email list and get more subscribers?
- Maybe you are trying to educate your consumer about a new product or new service?
- What about trying to get people to sign up for your event?
I just came up with five different goals that are five different pieces of content that you could create for your channels and those goals that you have laid out.
Take Steps to Earn Trust from Millennials
I feel like when people set a goal, most of the time it is just to sell. But they’re totally missing some of the messages. Like, the “do something” in between, goal – to get known and liked and trusted.
People need to reel their goals in a little bit because nobody’s going to buy something as soon as you post it on Facebook or Instagram. You need to constantly be building that bond and trust factor.
I think that’s where a lot of people mess this up – they try to move too fast and that’s just not how people buy anymore.
The society that we live in today is the “Insta” generation, and I don’t mean Instagram. I mean as an instantaneous! We want everything now or within 24 hours… and guess what, when it comes to marketing your business and scaling your business, there is no such thing as a quick fix.
All of those people that are looking for a quick fix or not taking the time to build a solid foundation in their branding and their marketing and their business efforts will have less success.
The more solid your foundation, the bigger the mega-mansion you could build, right? So instead of looking for the quick fix or trying to make everything work yesterday, take the time to do the research in your industry, in your target audience, and really create a marketing strategy, a content strategy, and a social media strategy that’s going to give you a return on your investment. That’s when I say sometimes we really got to get back to basics in our marketing today to really appeal to just digital consumers and especially millennial consumers.
You’re just bombarded with tons of stuff online – whether it be your competition or just standing out in front of that audience.
Why Personal Branding is HUGE in a Millennial Generation
We all want the millennials. They have the biggest spending power. There are tons and tons of them, so I know you’re big on personal branding. Tell us about how anybody can use personal branding – whether you have a product based business or a service based business and what the benefit is of branding yourself in a certain way to get that know, like, and trust factor to make more sales.
I’m so in love with the topic of personal branding because of the true realities of what building a personal brand can do for you personally, professionally and for your business.
How do we stand out from the crowd today? How do we differentiate our brand? How do we differentiate our products or services? The biggest answer right now is really working on your personal brand.
So what do I mean by that? You might have a clothing business. Okay. So obviously that means that you are in retail, you are selling clothes, you’re in the fashion industry, but one of the ways to differentiate your online boutique or maybe your pop up shop or your brick and mortar store is by building your personal brand as a fashion influencer, as that’s putting nice stuff online – styling tips, how to put together outfits, what assets should be worn for different occasions like a first date versus the job interview versus a night out with your girlfriends. Solidifying yourself as a fashion influencer or fashion expert is only going to bring more attention, more credibility, more trust, more engagement to your store, to your online shop or to your, your physical shop.
It’s a great way to market your services or your products all while being personal, relatable, and engaging with your target audience. So there is a reason and a way for everyone to benefit from a personal brand today.
When I think of personal brand for all of the Kardashians, just look at Kylie Jenner and what she’s built with her lip kits as an example, right? It’s amazing because people buy it from her. Kim Kardashian is selling out of perfume that nobody can even smell. It’s only available online, but they’re buying it because it’s hers and they have no idea what it smells like.
People buy products or services because of the people behind or in front of them.
People love the Kardashians, so that’s the reason why people love to buy their goods. Because they’re already a super fan of hers, right? They love looking at what she looks like, what she wears, how she does her makeup, so her personal brand, her digital footprint online has allowed her to create a billion-dollar empire without any additional investment or traditional advertising.
That is the power of building your personal brand. Obviously the Kardashians are a very extreme example because they also have broadcast 10 years of a reality show under their belt, but it is the perfect example of how Kylie was able to take her social presence and further monetize it by creating a service or a product that she knew her target audience was going to eat up. She knows who her audience is and she created the products for her audience interests.
How to Build a Personal Brand
If you’re an entrepreneur, that is exactly how you should be thinking of your industry and your expertise. What does your target audience need that you can package, sell, or create to ultimately monetize your personal brand as well?
There are so many people who say they don’t want to be the face behind the brand. Some people like to be behind the scenes and that’s totally okay.
Maybe you’re the business owner, the brains, but you don’t want to be the face. Find the right influencer, brand ambassador, or partner that is willing to be the face because it will make you more relatable.
People connect through storytelling. Who tells stories? People. It’s just the personalized way that marketing is as though they are. The more you can personalize your marketing efforts, your marketing, and messaging your content – the more relatable and the higher conversions you are going to see, right?
Now is the time to start building your personal brand and your digital footprint. What I mean by digital footprint is your website, your landing page, your social media channels, your content, your blog, or your YouTube channel. The more you’re sharing online that’s on brand, you’re further building your digital footprint in the right way,
Putting money and resources behind building your personal brand is necessary. Maybe you are selling clothes online or maybe you are a coach selling meditation, coaching, or trauma therapy.
There’s always a way to build a personal brand within your industry. For those brands that are overly promotional like we were talking about a few minutes ago, they’re going nowhere fast. It’s about that 80/20 rule, 20% promotion, 80% giving value for free and engaging with your audience. There really needs to be a happy medium.
Monetizing your Personal Brand Online
I’ve been working in this industry for over 10 years and I’m the perfect example of what a personal brand could evolve into and how you can further it and how you can monetize it. My personal brand has turned into a six-figure business, but it didn’t happen overnight.
I’ve been doing this a decade and I serve clients now – corporate consulting clients and entrepreneur or coaching clients. I do put them in two different categories because obviously corporate is more on the consulting where we’re helping them activate influencer marketing campaign structure, their content marketing efforts, or the production and producing content for them.
The fun part is that I actually get to be the talent because I do have an audience myself. I am a host, right? So I get to work behind the scenes and in front of the scenes for my corporate clients which is really fun.
Over the past 10 years as I’ve been doing this for Kotex, Capital One, Mastercard, and the Cosmopolitan magazines of the world, I really realized that I was marketing to millennials.
Helping the Smallest Business Owner
There’s so much great information for on how to build a market for their own business. Yet people aren’t getting it. So after, after six years of hearing the same questions over and over and over again, I said, “You know what? I gotta do this. I have to open up my services to appeal to the startup entrepreneur” and I realized that helping startup entrepreneurs fulfill me. It’s also so rewarding. I love helping an entrepreneur or having those “aha moments” or connecting the dots to create the brand and business of their dreams because we can do it online today.
I serve corporate clients in multiple ways and then my smaller startup entrepreneurs and business owners get one on one coaching to really help them build their personal brand, solidify their business development, help them with their digital asset – optimization of websites, landing pages, social media channels, or creating a content marketing strategy.
All of these things are doable. We just have to take the time to learn how to do it. Plain and simple.
I also did something similar. I had my PR agency and after a couple of years of that I said, “You know what? Why don’t I start helping the little guy? Because the little guy needs it the most.”
So you’re still working with them and providing value. You’re just doing it in a different way because they’re at a different space at a different point in their career.
#MillennialTalk Twitter Chat
Every Tuesday night, you could always expect at 8:00 pm EST Chelsea to host a Twitter chat with millennials.
Our Twitter chat is loaded with incredible entrepreneurs, credible, insane guests that come and do this.
Always expect to have a different topic within the marketing, social media, and entrepreneurial space. We are here to serve the entrepreneur and we always have a different guest speaking on that topic. Our guests are world renowned, the top authorities in their industry, and are loaded with insight.
Within an hour’s time, there’s so much information about that topic that you will learn aside from networking with all of these incredible entrepreneurs and business owners across the globe too… and I mean across the globe – UK, Australia, Africa, Germany, Bolivia, the US, Canada. We have such an amazing audience.