We found out more about the recent #COSMO Millennial roadshow, the Millennial research conducted by Cosmopolitan, as well as what brands need to know about Millennials.
Utopian Advertising (@UtopianAgency) was featured in our monthly agency focus slot and Managing Director Justin Williams (@JustinUtopia) talked about the agency, the pop-up shop offering and how it is using social media as a currency for clients.
If you missed the show, which airs every Thursday 9-10am streamed live via 2oceansVibe Radio, make sure you listen to this week's podcast. [twitterfall]
Why has Cosmopolitan SA embarked on this research of Millenials? Cathy Lund: The most important part of any brand is to immerse yourself in your audience and I knew it was integral that we jump and do some real thorough research on our audience. So it happened that I met Joan at our annual conference and she presented to us and I was blown away by her insights on Millennials, where the 18-34 year-olds form part of our target audience. There was so much synergy, so we invited her to come out and chat to us and formulated our questions and survey, with Joan's expertise, to ask the right questions and dissecting of the answers. The dissection is the most important part of the information really.
Why do Millennials matter to brands? Joan Kuhl: The consumer spending power of Millennials is expected to be R2,45 trillion next year. They are the majority of your customers, now and going forward. The other side of it, in the next 10 years, they will be 75% of your global workforce, sometimes brands come to me and want to talk consumer-only. You have to think both sides, as a consumer and a workforce. You have to think about your employees, as they are the Millennials. You have to get them just as involved in the the company strategy and ongoing processes.
What exactly is Utopian Advertising? Justin Williams: Utopian Advertising is all about taking advertising forward, there is a great sense of customer loyalty starting to emerge more and more and we are about rewarding the customer by merging social media and retail through the medium of pop-up shops. We do that by setting up pop-up shops with customers coming in, sending a tweet and being rewarded by that brand.
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