With each new marketing program, companies must peel back layers of unqualified website traffic, and get to the core of their customer bases. But what if you could get visitors to willingly provide everything you need to know about them to create a brand experience?
According to a new survey from the USC Annenberg Center for the Digital Future and Bovitz Inc., an apparent “Millennial Rift” has marketers either at a clear advantage or distinct disadvantage, depending on their audience type. The data shows that Millennials report more willingness to grant brands access to their personal data, as long as they receive tangible benefits. Of course, these returns don’t have to be tangible products – Millennials want more relevant web content and ads.
Compared to internet users aged 35 and older, Millennials have wildly different views on internet privacy, such as greater receptivity to targeted advertising when their private data is involved. Millennials also have much wider personal networks on social media networks. Brafton has reported that Millennials embrace social media more than most demographics and expect a lot out of brands they connect with online.
“Online privacy is dead – Millennials understand that, while older users have not adapted,” Director of the USC Annenberg Center for the Digital Future Jeffrey I. Cole said. “Millennials recognize that giving up some of their privacy online can provide benefits to them…”
56 percent of Millennials would share their location with companies to receive coupons or deals for nearby businesses, compared to 42 percent of older demographics.
The survey noted that 56 percent of Millennials would share their location with companies to receive coupons or deals for nearby businesses, compared to 42 percent of older demographics. More, 51 percent of Millennials would share private data to get something in exchange from brands, and only 40 percent of buyers aged 35 and older say the same thing.
However, organizations will continue to fail in generating new leads if they don’t provide Millennials with branded content that fulfills their needs. Younger consumers may submit their personal information in exchange for deals and promotions, but if those offerings don’t match buyers’ interests, the marketing effort still falls flat. To compile accurate information on target markets, brands must use social media marketing techniques to monitor online chatter, and leverage insights in ad targeting.