Don’t gamble with marketing budget - CEO of EXP advises
EXP, an experiential event marketing company in collaboration with Reach, a tech company has organized a seminar to enlighten entrepreneurs, organizations and startup companies on who millennials are, their spending patterns and how to market to them.
Casino Millennial brought to bear insightful and carefully researched information which will be of great use to local and multinational businesses in the marketing objectives. It was revealed most often organizations gamble with their huge marketing and advertising budget on the wrong target market, hence ending up with zero on return on investment.
The seminar addressed some myths and stereo types about millennials. Participants were encouraged not to see difficult to please, indecisive and spontaneous. Rather they are a group of people are self-motivated and seek challenge the status quo.
Companies were advised to target parents or fosters in their marketing and advertising campaigns since they are the gate keepers for the millennials. According to the organizer’s study, millennials form a greater part of Ghana’s work force and consumers.
To this effect it has become necessary for businesses to study and understand them. The study also revealed that they rely mostly on their parents for trusted information and not brand influences friends.
Businesses were again advised not to shun their websites since millennials visit them to verify the authenticity of information picked from social media.
Carol Adade, Group CEO of EXP in her presentation at Casino Millennial highlighted on the need for brands to craft personalized experiences for millennials. This she said will help businesses recoup their marketing expenditures.
JR Kanu, CEO of Reach, speaking at Casino Millennial indicated that millennials are skeptical and critical thinkers, therefore, their attitudes and spending partners shift at every stage of their lives.
He noted that these tech driven generation ignore brands that do not show up in their search or have poor reviews.
The event which came off on Friday, 6th June in Accra at the Kempinski Hotel saw quite a number of entrepreneurs, startups and sales and marketing personnel from reputable organizations in attendance.