Consumers Reward Brands that Take Chances on New Media

More than half 57 of respondents between the ages of 18 and 34 agree with the statement amp8220This advertiser gets my generationamp8221 when presented with a Snapchat ad That easily exceeds the highest percentage for any age groupmedia type combination and is even 75 higher than a billboard adThis goes beyond the raw data it has to do with the emotional response that occurs when a consumer sees an ad As an early adopter of advertising on Snapchat brands can gain a stronger personal connection with consumers This brand knows Snapchat while mom has never heard of it This can lead to a more powerful emotional connection with young consumersEarly adopting brands have also reaped benefits from platforms such as Twitch the video game streaming platform In fact consumers view brands that advertise on Twitch as twice as innovative as those that donamp8217tImagine you are a marketer in the early amp821680s targeting a young demographic A new cable channel MTV is gaining momentum with young people Knowing what you know now it would have been an easy decision to get in on the ground floor of one of the defining cultural influences of the decade a generational touchstone But what would you have done at the time Maybe you would have crunched the numbers looked at the demographic splits and made your decision the safe bean counter strategy At that point not knowing what MTV would become you likely would not have taken the risk Itamp8217s safer to let someone else jump in first test the waters and then join them laterUsing that decision process you would have missed out on MTV in the amp821680s and are likely now missing out on opportunities with platforms such as Snapchat Twitch Instagram and Periscope These types of platforms are the MTVs of 2015 These are the new generational touchstones young versus old mobile versus desktop pictures versus text video games versus television Itamp8217s the sentiment of amp8220my parents donamp8217t get it and thatamp8217s just the way I like itamp8221Brands should put more emphasis on partnering with new outlets in order to earn the rewards Being one of the first brands to reach consumers on a new platform leads to a large spike in positive feelings toward that brand Getting involved with a generational touchstone transcends impressions and GRPsIf you think you are connecting with young people just because you have a digital campaign you are behind the times Simply being digital is not enough to reach todayamp8217s young consumers YouTube poses an interesting example of this Although YouTube is a quantum leap forward in technology compared to billboards both fall within only a few percentage points of each other in the survey results In just a few years YouTube has already gone from the cool new platform to just as common and ubiquitous as billboards on the highwayIn a world where technology isamp160explodingamp160it39s much easier to keep ad dollars flowing through established pathways earning a predictable return and fewer headaches Running an ad on a new platform means extra hours of education creative and analysis The return on investment is unpredictable and hard to optimize because there is no previous data for comparison but itamp8217s those brands willing to take the risk that will come out on topWith a hot new device app or social network around the corner in what feels like every week it is crucial for brands to understand this riskreward calculation and have a framework in place to decide the right opportunities to take chances on GroupMamp8217s Whatamp8217s Next Quarterly investigates this riskreward decision through original research and interviews from BP KFC American Family Insurance MEC and David Pogue founder of Yahoo TechThe opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of Media Village management or associated bloggers Image at top courtesy of freedigitalphotosnet

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Consumers Reward Brands that Take Chances on New Media

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Jesse Wolfersberger

"About That with Carl Mayer:" Alaina Donnellon (Episode 6) - By Carl Mayer

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Consumers Reward Brands that Take Chances on New Media

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Jesse Wolfersberger

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