5 Core Aspects of Marketing Strategy in 2024

Core aspects of marketing may includes many factors but you cannot deny few steps which needs high attention. It includes, awareness, evaluation and purchase. Considering these in mind you should never forget what do your customers want while thinking about different marketing aspects.

In 2013, millennials accounted for $1.3 trillion in consumer spending. Six years on, this bracket of 18-34 year-olds are the largest demographic that marketers must consider. Therefore, if you don’t have an effective and core marketing strategy, your business could miss out on a lot of potential customers.

Aside from their numbers, Millennials have a very different mindset to previous generations, and so their choices in regards to shopping and spending aren’t as predictable. What worked for Baby Boomers and Gen X consumers doesn’t usually fare so well with Millennials.

With that in mind, modern marketers must devise an effective marketing strategy that can strike a chord with this tech-savvy demographic. By realizing how they embrace social media, you can leverage tap into the potential this huge audience offers.

In this article, we’ll show you 5 core aspects of marketing strategies and the key areas you should focus on in the modern age.

1. Think Differently and Try New Ideas

Most — if not all — millennials are digital natives. They grew up with the internet. They remember the dawn of social media, and they have been using smartphones and online retail sites from their teenage years or earlier.

Over the years, they have grown accustomed to this reality, and they expect brands to offer a sleek, smooth, and enjoyable online customer journey. They love digital giants like Apple, YouTube, Google, and Netflix for their sophisticated tech and virtually unrivaled experience.

Traditional sales pitches like a simple “Buy Now!” call-to-action no longer works with this market. They’ve heard it all before, and they pay no attention to it.

According to the Center for Generational Kinetics, Millennials prefer to be contacted through these methods (in order of importance):

• Text and IM apps, like WhatsApp and Facebook Messenger;
• Email, with the subject line being a highly important aspect;
• Social media;
• Phone calls; and
• In-person

Instead of hard sales, you need an effective marketing strategy that seeks to experiment with fresh, unique out of the box ideas. You must convince Millennials why they need your product or service. You must make them believe that it is the solution to their problems. By highlighting the benefits, you can catch their attention.

Research shows that 54% of Millennials want to start their own companies or have already started one, and 45% would choose a job with a more flexible schedule over a job with a higher pay rate.

It’s clear that this group of consumers think differently than previous generations, and so, it’s vital that marketers approach their advertising campaigns differently.

2. Video Marketing is Vital Now

Take a moment to think about the flood of information that appears on your social media feed each day. It’s inundated with hundreds and thousands of posts, all competing for the attention of Millennials — a generation of people reputed to have a short attention span. If your post is going to stand out, it needs to be something special, that is one the marketing aspects.

Video marketing is king nowadays and one of the core aspects of marketing, taking over from traditional text-based content because it’s possible to do much more with video, in a short space of time. A well-produced, eye-catching video with a powerful brand message is much more engaging and shareable than a long-winded wall-of-text with some grainy still images. In case you have any doubts, remember that this is the generation that created the YouTube celebrity phenomenon!

Get Personal

A crucial aspect to keep in mind is that Millennials aren’t just interested in good videos from brands. They want to know more about the people behind the business. By focusing on people and personal values, you humanize your brand and increase the chance of forging emotional connections with your target audience.

One good example of how to do this is by getting video reviews from real customers. This is clever video marketing with a dose of social proof, helping you build trust in your brand from the good word of happy customers is a part of core marketing strategy.

User-Generated Videos

You can also hand the power to your audience by encouraging them to interact. GoPro thrives on user-generated content in this way, getting people to submit videos for the chance to win cash rewards. This does wonders for brand awareness marketing aspects, as GoPro receives a lot of engagement plus free social media marketing from all the user videos.

Make it Easy for Viewers

Nowadays, everyone expects to be able to watch a video anywhere, on any device. Your video content should play on all smartphones, tablets, and desktops. Also, it’s a good idea to include captions in case some people aren’t able to use the volume when they’re watching it.

3. Take Your Time to Find the Right Influencers

Influencer marketing has been on the rise for several years and remained one of the core aspects of marketing and always played a big part as an effective marketing strategy. While it has some overlap with the traditional celebrity spokesperson advertising model, influencer marketing is often better, as they are more relatable and in-touch with consumers.

Influencers are quite selective about the brands they partner with because they don’t want to alienate their followers by endorsing products or services that don’t make sense for their audience.

As a business seeking to leverage influencer marketing, here are four things to think about:

• Expertise — Would this influencer be a good match for your content and campaign?
• Reach — Does this influencer have the social media following you need? Can they engage your audience and attract genuine leads and prospective customers?
• Demographic — Is the influencer’s audience similar to your company’s buyer persona? Does the influencer connect with the same group of people?
• Notoriety — Do people like this influencer? Are they famous for admirable reasons? You don’t want to alienate people by associating your brand with someone polarizing or infamous for the wrong reasons.

Many people have been slow to get involved with influencers, dismissing it as a fad. However, that is a fallacy, as the signs point to influencers being around for a long time to come. People value the opinions of fellow consumers, more so than the word from corporations and brands.

To reinforce that truth, we can consider how micro-influencers with less than 10,000 followers often generate more engagement than celebrities. Similarly, users with less than 1,000 followers earn likes 8% of the time, compared to a meager 1.7% return for influencers with 1-10 million followers.

This goes to show that the biggest names aren’t always the strongest influencers. Sometimes, using influencers with a small but focused niche can be the way to go.

4. Know Your Audience

Millennials may be the world’s first generation of digital natives, but that doesn’t mean they’re happy to interact with chatbots and social media self-help guides all the time. When they have a problem, they usually want to talk to a real person.

Brands must ensure they have a human face, so the business is personable, relatable, and transparent, making it easy for people to get in touch and get answers, it is also one of the marketing aspects. If your business fails to do this, you risk losing out. When you make it easy for people to contact you and have two-way conversations, you’ll be able to collect more customer feedback and data.

This approach facilitates smarter decisions about your business, as the customer insights can help you create a more effective marketing strategy, as well as improving your sales and customer service initiatives.

Ultimately, you must endeavor to learn more about your target audience, continually painting a picture of your ideal customers. By knowing more about their needs, interests, fears, and pain points, you can tailor your business and its offerings to increase customer satisfaction.

Provide An Interactive Experience

History tells us that people have an innate desire to become a part of something much bigger than themselves. It’s in our nature, and the Millennial generation is a testament to it. They have grown up surrounded by incredible advancements in technology, science, and business.

With social media, interactive gaming, and reality TV, millennials live in a world where it’s possible to get involved in massive global events with just a touch of a button. Marketers should feed this desire and use it to attract attention to their brands, products, and services.

You can do this by experimenting with interactive ads or by running competitions that encourage consumers to get involved. Doing this has mass appeal, and it can drive brand awareness to help grow your brand.

Listen to Consumers

Millennials aren’t shy about telling the world what they think. For marketers, that’s good news, as you need to know what your prospects like or don’t like.

Social listening on platforms like Twitter is a useful way of getting acquainted with the latest trends in your market. When you keep tabs on your audience and changing consumer interests, you’ll be more likely to connect with them on what they think matters.

Everyone likes to know they are being listened to, especially by the big brands they love. Therefore, it will pay off when your brand is better at listening to customers, as you’ll get the edge on the competition.

Learn More: How to Do Customer Segmentation Based On Customer Journey Insights

5. Highlight Your Dedication to Privacy

88% of Gen Z consumers agree with this statement:

“Protecting my privacy is very important to me.”

While Millennials are the dominant force now, Gen Z is fast on their heels. Studies from IBM show that less than 33% of teenagers are comfortable sharing their personal information online. With the significant changes in GDPR in 2018, major data leaks at Yahoo and Facebook, and the prevalence of somewhat intrusive remarketing ads, the consumers of the future are cautious about privacy.

Trust is integral to online selling. People need to believe that brands will protect their personal information, keeping it safe, and only using it to enhance the user experience. If your business can do this successfully, it’s excellent for nurturing brand loyalty, which helps you acquire more customers that will stay with you for years.

Nowadays, consumers look for signs that companies are serious about privacy protection. For example, you might consider adding elements like this to your website:

• SSL — Site Security Layer (aka the ‘Little Green Padlock’ in the URL bar)
• Privacy Policy — An official document outlining how you collect customer information, and how you use it.
• Cookies — A document that explains how you use cookies to track on-site behaviors and use it to improve your effective marketing strategy.
• Secure payment processing — This reassures people their credit card details are safe when they make purchases online.

The mere presence of features like these can increase the trust that a visitor has in a website. An older site that lacks these features can quickly deter people, giving them a poor impression of the brand as a whole.

In the modern era, it’s crucial to collect data on consumers, but businesses must also respect the customer’s concerns about privacy. Try to find a balance to ensure you can build a reputable brand name that inspires loyalty and trust.

Wrap Up

So, there you have five critical aspects of an effective marketing strategy. Today, you have a vast range of techniques, channels, and tools to use to improve your online business. It’s not always easy to get the right combination.

With these five elements of core aspects of marketing, you can develop a solid foundation for any campaign, targeting the youngest demographics that are most willing to embrace brands online.