First of all, would it be far better if we knew the definition of marketing in advance. Understanding of marketing according to experts is quite diverse, but of course it still contains the same essence. According to Philp Kotler, marketing or marketing is an activity carried out by individuals (can also be in the form of groups), which this activity aims to meet all human needs through the process of exchanging goods for money. The definition of marketing delivered by Kotler is indeed very general. In this case, William J. Stanton also gave his definition of marketing that was more specific than that delivered by Kotler.
According to him, marketing is a system that as a whole regulates various business activities by planning, determining the price of goods or services, promoting and distributing them to consumers to meet and satisfy consumers. Although Stanton provides a more specific definition of marketing than that stated by Kotler, but we can understand what is the marketing function of Kotler’s definition, namely the exchange function.
What about marketing trends? Marketing trends are marketing strategies that have succeeded in becoming a trend, but can change within a certain period of time. Marketing trends can help entrepreneurs and business people to design marketing concepts that are booming or trending in their target market, so they can choose marketing trends that are there and adjusted to the marketing objectives they have.
The more developing marketing trends, the more types of marketing that might appear in the business world. An example of marketing that is becoming a trend among millennials is marketing that is done online. Millennial generation is a generation of young people who may be around 21 to 38 years old this year. Through the internet, millennials can play with their thumb and forefinger and buy the products or services they need. Nowadays, millennial generation marketing strategies are also the center of attention of business people.
Reporting from the e-content mag dot com website, there are 4 marketing trends taken from millennial habits that can be applied to current marketing strategies, especially in 2019. This marketing trend can be said to be a millennial era marketing strategy that should be emulated by many companies and businesses that want to grow. Today, millennial generation is nominated as the most powerful consumer in the world. In fact, millennial consumers are predicted to exceed the number of Baby Boomers consumers. This statement is supported by a study from the UBS Millennials Group which states that the annual collective purchasing power generated by millennial generation will reach $ 24 trillion by 2020. Wow, there’s a lot too ?!
This reality makes us need to think and pay attention to how the attitudes and behavior of millennials in buying and using goods and services, which later this research will greatly affect the marketing strategy that we have and become the latest marketing trends that can be applied by many people.
Marketing Trends of Millennial Habits that Need to be Implemented
There is one important fact that all of us need to know that millennials are young men and women who grew up during the technological revolution, so a powerful marketing strategy for this generation is to ‘make friends with technology’, which means using technology in creating marketing strategies and later will create the latest marketing trends that can be applied by many entrepreneurs and business people. Let’s just look at 4 marketing trends taken from the habits of millennials.
First Marketing Trend: Use More Artificial Intelligence (AI) to Facilitate Millennial Generation.
Millennials like life with ease. What’s more, they are growing up when technology is raising its ‘rocket’ development. This is a challenge for entrepreneurs. Many business people are competing with each other in order to provide higher satisfaction to millennial consumers, especially when they use digital in shopping.
So by looking at the millennial habits like these, businesses need to create a marketing trend that use artificial intelligence or artificial intelligence more sophisticated. Remarkably artificial intelligence or artificial intelligence can change the content that normally exists in spam, into a content that stimulates the thought of millennial consumers to buy a product or service.
Try to remember the product promotion content in the days before AI developed, most promotional content only goes into the spam box in our email. But with the development of AI in this digital age, artificial intelligence can create content that usually only exists in spam boxes, into content that is often seen by consumers everywhere, even in every corner of website pages or social applications. So, now is the time for business people to encourage all the creativity they have and strengthen their determination in implementing new marketing ideas. How, are your fellow readers interested in this first marketing trend?
Second Marketing Trends: Use Visual Strategies That Can Attract Millennials’ Attention.
As a generation that grows in the era of technological development, the life of millennial generation is often disrupted or distracted by gadgets and technology. However, that does not mean they can be easily attracted to the products and services we offer! This second marketing trend requires us to strive to attract the attention of millennials.
We can use colors, shapes or designs that for them are “different but interesting”. Well for example like what was done by Fyre Festival here, colleagues. Fyre Festival is a music festival that has made millions of dollars from this marketing trend.
I wonder what was done by Fyre Festival until it was that successful? Remarkably, they only use the “orange box” to attract the attention of millennials to want to buy and come to the music festival they are holding. In short, the Fyre Festival advertises the orange box advertisement on various social media sites that have become a ‘comfortable home’ for millennials. They also hired several agencies to help attract millennial attention by distributing the orange box.
This might sound simple, but marketing trends like this have succeeded in making millennials curious, “actually what’s in the orange box? And what does that mean? ” until finally boom! The orange box announces the launch of a music festival held by the Fyre Festival. Simple but very interesting, right?
Third Marketing Trend: Use Influencer Strategies because Millennials Like to Hear Influencers’ Opinions.
From the first, we lived in an age where we would trust more with advice from other people to buy a certain item. “You try to use product A, that’s really good, the price is also cheap blah … blah … blah …” immediately the next day we will buy a product recommended by our relatives. This is still happening, but in a more sophisticated context because of the presence of the internet and technological advancements that make many people connect very quickly.
A beauty vlogger from America could be a role model for millennial consumers in Indonesia to buy makeup equipment that feels good, suitable and of high quality. Millennials really like whatever messages and information are conveyed by influencers. They will be very interested in buying a product or using the services suggested by influencers. For them, the product experience felt by influencers will produce valid information that is worth following. Millennial consumers begin to put aside their personal experiences with a product that they should be able to feel personally, then can draw conclusions from the quality of the product.
Well, this condition has created new marketing trends that need to be followed by entrepreneurs and business people today. With the help of influencers, their products and services will be more famous in the eyes of millennial consumers.
Fourth Marketing Trend: Create Product Promotions Full of Transparency.
Millennial consumers are very tired of seeing the deception of advertisements on television that promote a product , but in fact the product is not of good quality. To prevent this marketing fraud, millennials like to join communities that match their interests and preferences. So, they can get the latest information which for them is valid to be followed.
In fact, this fourth point is almost the same as the third point because millennial consumers trust information, messages and opinions from others far more than they have to feel for themselves. Oh yes, this reality is also supported by the results of studies conducted by Olapic. According to Olapic’s research, 56% of millennial consumers would prefer to buy products recommended by their community. Why is that? Because they feel “community” can provide a strong connection for them.
So what do entrepreneurs and business people need to do? This fourth marketing trend suggests entrepreneurs to interact more and build deeper connections with each of their customers, because every individual who gets the best experience from the products and services they choose will tell their best experiences to the community they have.