What millenials want from brands and brand experiences
At the exchange4media BW APPLAUSE Conclave & Awards 2017, Tushar Dhingra, CEO, Smaaash Entertainment, M Yeshwanth Nag, Founder, The ThickShake Factory and Kiren Shrivastav, CEO, Molecule Communications came together to discuss what millennials expect from brands and brand experiences.
M Yeshwanth Nag, Founder, The ThickShake Factory pointed out that almost two-thirds of Indians are millennials. “About 80% of customers we cater to are millennials and so it’s really important to understand them and their preferences,” said Nag. “The millennials by default are marketers themselves,” he asserted.
Kiren Shrivastav, CEO, Molecule Communications said that if research was to be believed even a goldfish’s attention span is more than the average millennial’s. Speaking about retaining their attention, Tushar Dhingra, CEO, Smaaash Entertainment said that brand uses VR and AR games that engage the Gen Y in multi-sensorial ways. “We keep on changing our centres and that keeps the excitement going and keep updating the versions of our games,” he added.
Both Dhingra and Nag agreed that innovation is an important in wooing the generation and catering to their short attention spans. “Change is one thing that holds their interest so we keep revising the menu and adding interesting variants to it,” confessed Nag.
They also pinpointed that given the generation’s heavy use of social media, digital and word-of-mouth works out well for them rather than any other type of advertising on radio or other means. “95% of the budget is spent on the digital only,” opened up Dhingra who gave an example of their on-ground activity during their launch of craft beer at Ludhiana.
“We just posted about it on Facebook and had nearly 2,800 people turn up for it on the day,” he revealed. Nag opined that customization is another aspect that attracts Gen X and spoke about how ThickShake’s create your own shake is something that has been doing well. While digital marketing and selfie-friendly experiences are a pull, the millennials want to feel aspirational not just towards the brand ambassador but themselves being aspirational,” said Kiren Shrivastav, CEO, Molecule Communications, summarizing the thought-provoking discussion.
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