Author: Oren Boiman / Source: Entrepreneur Business leaders who have come of age in the context of a connected social world have a drasti
Business leaders who have come of age in the context of a connected social world have a drastically evolved perspective on everything from news and education to sports, relationships and advertising. There is a new expectation and social contract with advertisers, which favors conversation over broadcast messaging, requiring authenticity, nuanced voice and frequent creative refresh. There is a new set of rules for how businesses engage with consumers. They now sell through the digital content they create and the voice they use.
Only some marketers have adapted and joined this conversation. Millennials seem to have the tightest grasp on which marketing tactics meet these new expectations and are successful with today’s consumers, mainly because they are today’s consumers.
Below are three core-marketing aphorisms millennials follow with great success.
1. Failing fast as a worldview
It seems obvious that business leaders would prefer to insure that the hypothesis, strategy and tactics they employ to achieve business objectives are correct. Why then, don’t all businesses test their marketing creative rigorously? A recent report found that 53 percent of baby boomers at small and medium businesses don’t test their digital ad creative at all.
Millennials don’t just believe in failing fast; they intrinsically see fast failure as a core tenet to operating a successful business. In a way, millennial business leaders have adopted agile product development principles into all aspects of business, from project management to marketing. They learn through doing instead of planning. They jump in and try a set of defined hypothesis, test, analyze and adjust. Millennials are not afraid to try something that might not work, which ultimately helps them succeed faster.
Legacy corporations traditionally have long creative cycles, excessively rigid brand compliance and complex approval processes, making rich media and digital content variation time consuming and costly to create. A lot of marketers still believe this is true, but millennials never thought this way to begin with. Through their eyes, making digital content (and lots of it) is just something that’s done.
With today’s technology, creating variation is simple, quick and…