Marketing to Millennials

Finding effective and affordable ways to reach the next generation of potential homeowners.

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Your PresentersShane Darrisaw

National Training Consultant

B.B.A & M.B.A (Georgia Southern University)

NW Faculty member since 2007

20+ years of experience in the areas of retail, wholesale, nonprofit mortgage lending, non-profit and banking management

Certified Financial Coach

Certified Human Behavior Trainer

Provides technical assistance to national and community non-profit organizations

Provides services in the areas of Client Management Systems, Organizational Development, Project Management and Team Building

Your Presenters

John Little

Author, Consultant, Speaker, TrainerConsulting with non profits since 200720+ Years professional experience in

training, marketing & management Certified Human Behavior SpecialistDeliver high quality consulting, training and

technical assistance nationally to for profit and non profit organizationsHost – ‘Live & Lead Like A Champion’ Daily

Podcast

This presentation will look at…

Who are the “Millennials”?Poll Question

Millennials DemographicsPresently they are…

24% of the population

Median income is from 25K – 48k

21% are married

25% have a bachelors degree or higher

Millennials Demographics

Millennials are the most ethnically and racially diverse generation of all the demographics.

Millennials want to be defined by their passions, not their careers.

Millennials want to be defined by their passions, not their careers.

Defining Millennials

What form of marketing do you prefer?

Poll Question

Word of Mouth

Word-of-mouth marketing has always been important, but its scope is limited to the people you know and interact with on a daily basis.

Word of mouth

Social media has lessened that limitation and given new power to consumers.

Consumer Engagement

On social media, customers want to engage with people, not products.

Your goal is to engage with your customers and help increase their awareness about what services you provide and how you can deliver them more efficiently.

Hyper-Informed Consumers

Social media is transforming the way that consumers make decisions. They are using social media to learn about others experiences.

Maximizing Your Exposure

Millennials & Traditional Marketing

Millennials want to know that an organization is paying attention to their specific needs.

Successful Social Media

Successful Social Media

Links to a newspaper article.

Successful Social MediaShow events & partnerships

Demonstrate social engagement through retweets and favorites

Millennials & Traditional Social Marketing

Traditional Marketing

Focuses on print ads

TV & radio commercials were hallmarks

Considered a catchall type of marketing

Social Inbound Marketing

Allows for targeting

Focuses on electronic communication

Go after the type of audience you want

Millennials & Homeownership

Yes22%

No33%

Don't Know45%

Could You Obtain A Mortgage if You Applied?

Recent Study of California Non Homeowner Millennials – Source: Millennials & Homeownership by Brad Shuster

Millennials & Homeownership

Millennial Obstacles to Homeownership:- Debt load- Down Payment Requirements- Fear of Application- Lack of savings/credit

HCA Opportunities for Millennial Market- Financial Literacy Pgm- Down Payment Assistance - Counseling on Process- Homebuyer Education

Rent vs. Own

38%

36%

35%

25%

0% 5% 10% 15% 20% 25% 30% 35% 40%

20% Down, 30 Year Fixed

Cash

10% Down w/PMI

3.5% Down, FHA

Cheaper to Own than Rent

Source: Trulia, Inc.

Millennials & Homeownership

Keys to connecting with Millennials:- Engagement- Value- Community- Interaction- Social Impact- Convenience

How effective are Facebook, Blogs and You Tube in marketing to Millennials?

Poll Question

Millennials & Traditional Social Media

Non-Traditional Social Media

Instagram

Infographics

Twitter

Podcasting

Mobile Marketing (Text Campaigns)

‘Discount’ Marketing

Loyalty Programs & Rewards

Instagram

200 Million Monthly Active Users

1.6 Billion “Likes” Daily

Multiple Mobile Platforms

Instagram has more ‘prestige’ than Facebook or Twitter among young adults

Tips:- Share images of successful homeowners- Link to other social media accounts

Infographics

“Content Marketing”Growing trend of information distributionVisual displays of informationMultiple delivery methodsVisual & InteractiveTips:- Tell Your Story

- Make it Relevant- Display Prominently

Twitter

284 Monthly Active Users

500+ Million ‘Tweets’ Daily

80% Twitter Active Users are on Mobile

Information & Interaction

Best for ‘sharing’

Tips- Give a ‘steady stream’ 3-5 times per day- Use hashtags (#) that will be ‘re-tweeted’

Podcasting ‘On The Go’ Content Delivery Demonstrate Value & Expertise Minimal Startup Costs, Little to No Long Term

Cost Potentially Revenue Generating “Evergreen” and Archive Content Tips: -Subject Matter Expert ‘Spotlights’

- Highlight recent successes

Mobile Marketing

1.75 Billion Smartphone Users

25% growth expected in 2014-2015

More than 55 Million users of online ‘discount’ services

Large margins in incentive based retention programs

“There’s An App For That”

Constant Presence

Multiple Options of Content Delivery

‘Push’ Marketing Opportunities

Low Cost Barrier to Start

Consistently Fresh Content

Interactive Functionality

Groupon & Living Social

Growing trend of fee for service HBE

HBE has a ‘value’ in the marketplace

HBE is a saleable product for HCA

Growing trend of online savings models

Leverage value and ability to establish price-point

Offer ‘discount’ for period of time or specific service

Loyalty & Reward Programs

Builds a relationship

Rewards consistency and return clients

Agency set program –parameters

Give discounts on future service

Track activities & progress

Establishes a ‘customer for life’

Top 10 Social Media Marketing Tips

1. Be Engaging!

2. It is ‘SOCIAL’ media.

3. Link it back to your organization’s website.

4. Use social media icons on your website to connect to your platforms.

5. Get ‘buy in’ and use your team for maximum impact.

6. Variety carries the day.

7. Images, audio and video are more effective than text.

8. Don’t ‘sell’…share.

9. Have commitment and a strategy.

10.Measure what works & what doesn’t and adjust accordingly.

Summary

Marketing To Millennials Requires:- Creativity- Visual Content- Engagement- Variety- Subtle Calls to Action- Value

Questions?

Thank You!