As we celebrate Jewish Disability Awareness, Acceptance, and Inclusion Month (JDAIM) in February, we can reflect on how our community can grow stronger by embracing inclusion in all aspects of life, particularly the workplace. ProMontreal Entrepreneurs works with businesses and startups that want to create innovation and impact. One of the most important decisions a business leader can make is to create a workplace that welcomes people with disabilities.
Employing people with disabilities is more than just a moral imperative; it’s also a sound business strategy. Here’s why.
1. Access Untapped Talent People with disabilities are frequently overlooked during the hiring process, despite bringing unique skills, perspectives, and determination to the workplace. Many have developed exceptional problem-solving skills, resilience, and creativity while navigating environments that were not always designed with them in mind. These characteristics can translate into new ideas and innovative approaches that will help your business thrive.
2. Promote Innovation through Diversity Diversity is a proven driver of innovation, and people with disabilities bring unique perspectives that can help your company reach a larger customer base. According to an Accenture study, companies that embrace disability inclusion generate 28% more revenue, 30% more profit margins, and double the net income of their peers. By cultivating a diverse workforce, your company can better meet the needs of a diverse market.
3. Improve team culture Hiring individuals with disabilities can have a significant positive impact on workplace culture. It fosters an environment that values empathy, inclusivity, and mutual respect—characteristics that encourage greater collaboration and loyalty among all employees. When your team sees that you value inclusion, it boosts their confidence in the organization and inspires them to give their all.
4. Strengthen Customer Loyalty Consumers are increasingly drawn to businesses that stand for something more than profit. Committing to inclusion demonstrates your values to customers, clients, and partners. It’s more than just good PR; it fosters trust and loyalty among a growing demographic eager to see businesses do good in the world.
5. Tap into Available Resources Hiring people with disabilities does not have to be difficult. There are many resources, grants, and training programs available to help businesses create accessible workplaces. Ometz for example, and other community partners can assist you in connecting with qualified candidates, providing workplace accommodation support, and ensuring your company thrives as an inclusive employer.
Take Action During JDAIM. As business owners, we can influence the future of our community. This Jewish Disability Awareness, Acceptance, and Inclusion Month, let us pledge to break down barriers and ensure that everyone has a seat at the table.
Let’s make inclusion our business.
Are you prepared to take the next step? Contact ProMontreal Entrepreneurs to find out how we can help you connect with organization such as Ometz that can help create a more inclusive workplace.
Startups represent the birthplace of innovation and future industry leaders. However, due to their inherent risks and uncertainties, evaluating a startup isn’t a simple process. Unlike established companies, startups often lack historical data, making traditional valuation methods less applicable. So how can one effectively evaluate a startup? Let’s dive into the key factors you should consider.
1. Understanding the Market
The startup’s market landscape is the first area to scrutinize. Determine the size of the total addressable market (TAM). If the TAM is large and growing, it suggests more opportunities for the startup to succeed. Similarly, understanding the market’s competitiveness is essential. A highly saturated market may pose significant challenges for a new entrant, whereas a market with fewer competitors can offer more room for growth.
2. Assessing the Business Model
Startups are often built on innovative business models that challenge the status quo. Assess how the startup plans to generate revenue, the cost structure, and the scalability of the model. Does it seem sustainable? Will it allow the company to grow while maintaining, or even improving, its profitability? A sound business model can indicate a higher likelihood of long-term success.
3. Evaluating the Product or Service
The product or service the startup offers is its lifeblood. It’s essential to understand its unique selling proposition (USP), which differentiates it from the competition. Moreover, consider the problem the startup’s product or service aims to solve. Is it a significant problem that many people face? Will the solution be compelling enough for customers to switch from their current solutions? Understanding the startup’s value proposition can provide insight into its potential for success.
4. Reviewing the Team
Behind every successful startup is a passionate and competent team. The founders’ and management’s background, experience, and skills are significant indicators of the startup’s potential. Are they experts in their industry? Do they possess strong leadership skills and entrepreneurial history? A strong team can often overcome challenges and steer the startup towards success.
5. Checking the Financial Health
While startups often burn through cash in their initial years, understanding their financial health is still critical. Review the startup’s burn rate, runway (how long the startup can continue operating at the current burn rate), revenue growth, and unit economics. While profitability might not be an immediate goal for most startups, they should demonstrate a clear path to profitability in the future.
6. Analyzing the Traction
Traction refers to the progress the startup has made since its inception. This could include user growth, revenue growth, partnerships, and more. Traction shows that the startup’s product or service is being accepted by the market, and it’s a strong signal of potential future success.
7. Legal and Compliance Check
It’s critical to ensure that the startup has all the necessary permits, licenses, and is in compliance with all relevant regulations. Any legal issues could lead to significant problems down the line.
8. Risk Assessment
Evaluating a startup is incomplete without a thorough risk assessment. Consider the various operational, financial, and industry risks that the startup might face. How prepared is the startup to deal with these risks?
9. Exit Strategy
Finally, understanding the startup’s exit strategy is crucial. An exit strategy could be an initial public offering (IPO), acquisition, or merger. This gives investors an idea of how and when they might expect a return on their investment.
In conclusion, evaluating a startup requires a comprehensive understanding of several key factors, from the market landscape and business model to the team’s competencies and the startup’s financial health. Each startup is unique and may require additional considerations based on the industry and other specifics. Remember, investing in startups is inherently risky, and it’s crucial to diversify your investment portfolio to balance this risk. An informed approach to evaluating startups will empower you to make the best decisions for your financial future.
Artificial Intelligence has transformed countless industries, and finance is no exception. AI’s capacity for deep learning and data analysis has found fruitful application in streamlining capital raising. By automating processes, providing accurate predictions, and creating personalized strategies, AI has made fundraising more efficient and effective.
AI’s prowess in data analysis and machine learning can help businesses identify and target potential investors more accurately. AI can analyze numerous data points, from a potential investor’s previous investments to market trends, providing businesses with a comprehensive understanding of where their prospects might lie. This predictive analysis ability aids in crafting tailor-made pitches, increasing the likelihood of successful capital raising.
AI can also generate personalized fundraising strategies by processing large data sets about investors and markets. By identifying patterns and trends, AI can help businesses understand what strategies have worked in the past and which might be successful in the future. These insights make it possible for businesses to tailor their capital raising efforts to individual investors, greatly enhancing their chance of success.
The integration of AI into capital raising is still in its early stages, but the potential is enormous. The ability to automate routine tasks, conduct predictive analysis, enhance due diligence, formulate personalized strategies, and engage investors more effectively promises to revolutionize capital raising. However, it’s essential to remember that while AI can simplify and enhance the process, the human element – building relationships, demonstrating passion, and communicating effectively – remains crucial.
AI is not a magic wand that will instantly attract investors, but a tool that can make the complex process of capital raising more manageable and efficient. As we move into the future, businesses that harness the power of AI in their capital raising efforts will likely have a competitive advantage in securing the funds they need to grow and thrive.
As the adage goes, “Time is money,” and in the world of capital raising, AI can save businesses both. By making the process more streamlined and effective, AI empowers businesses to reach their financial goals faster and more efficiently than ever before.
So, whether you’re a startup looking for your first round of funding or an established company preparing for your next growth phase, consider integrating AI into your capital raising strategy. The future of fundraising is here, and it’s powered by Artificial Intelligence.
There’s a well-known saying, “In a world where you can be anything, be unique.” This resonates with many small business owners navigating the crowded commercial landscape. Standing out is no longer a choice; it’s a necessity. So, how can a small business differentiate itself? Here are some effective strategies to create a distinctive identity.
Your brand should tell a story. It should represent your business ethos, your values, and what makes you different. Everything from your logo and tagline to your online presence and office décor should reflect this. Unique, consistent branding fosters recognition and builds a connection with your customers.
3. Showcase Expertise
As a small business, it’s vital to exhibit your deep knowledge and expertise in your field. Educate your customers through blog posts, social media updates, webinars, or even in-person workshops. These efforts demonstrate your authority, increase your visibility, and foster trust with your audience.
4. Community Involvement
Being a part of the community can help differentiate your business. Attend local events, sponsor a youth sports team, or donate to local charities. Not only does this build goodwill, but it also increases local visibility and helps build strong relationships with customers.
5. User-Generated Content
Leverage user-generated content to amplify your brand’s reach and authenticity. Encourage customers to share photos, reviews, or testimonials. This creates a sense of community around your brand and provides social proof that can persuade potential customers.
6. Personalize Your Products or Services
If possible, personalize your offerings. This could be as simple as offering customizable features or as complex as tailoring your service to individual client needs. Personalization enhances customer satisfaction and can make your business the go-to for those seeking a product or service tailored to their specific requirements.
Collaboration can help you reach a wider audience. Find complementary businesses and explore opportunities for partnerships. This could take the form of bundled offerings, cross-promotions, or joint events. Collaborations provide mutual benefits and can make your business more attractive to customers seeking convenience and value.
9. Leverage Technology
Technological advancements offer many opportunities for small businesses. Whether it’s implementing a chatbot to provide instant customer support, using data analytics to understand consumer behavior, or harnessing social media for targeted marketing, technology can help your business stand out.
10. Be Flexible and Adapt
Perhaps one of the most significant advantages a small business has over larger competitors is agility. Small businesses can pivot quickly in response to changing market conditions, customer preferences, or innovative trends. Embrace this flexibility and show your customers that you’re adaptable and forward-thinking.
In conclusion, standing out as a small business in today’s crowded market requires creativity, dedication, and a keen understanding of your customers’ needs and desires. By offering stellar customer service, unique branding, demonstrating expertise, engaging with the community, utilizing user-generated content, personal
izing offerings, adopting sustainable practices, collaborating with other businesses, leveraging technology, and showing flexibility, you can differentiate yourself and achieve success. Remember, the ultimate goal is not to be everything to everyone, but to be something incredible for those who matter: your customers.
Understanding the Importance of Employee Retention
The significance of employee retention stems from its multiple ramifications. High attrition rates not only lead to increased recruitment costs but can also hamper productivity, destabilize teams, erode company culture, and damage a company’s reputation. Conversely, a lower turnover rate ensures knowledge continuity, promotes a healthy work culture, and bolsters overall performance.
Strategies for Effective Employee Retention
Now that we’ve established the importance of employee retention, let’s explore strategies to boost it within your organization.
Solution: Regularly review your compensation packages to ensure they align with or exceed industry standards. Additionally, offer comprehensive benefits packages and consider perks like flexible hours, work-from-home options, or wellness programs that can improve work-life balance.
2. Foster a Positive Work Culture
A healthy, positive work environment goes a long way in retaining employees. It engenders a sense of belonging and allows individuals to thrive.
Ambitious employees seek growth – both professional and personal. If they feel stagnant in their roles, they are likely to look elsewhere for opportunities.
Solution: Invest in your employees’ development. Offer training programs, mentorship opportunities, and clear career progression paths. Encourage employees to take on new challenges and responsibilities that will enable them to acquire new skills and grow.
4. Listen to Employee Feedback
Employees want to feel heard and valued. Ignoring their feedback or concerns can lead to frustration and disengagement.
Solution: Establish platforms where employees can voice their opinions and suggestions. Regularly conduct surveys to gauge employee satisfaction and act on the feedback received. An open-door policy can also facilitate dialogue and make employees feel valued.
5. Prioritize Work-Life Balance
Today’s employees, particularly the younger generations, highly value work-life balance. Overworking your team can lead to burnout and disengagement.
The onboarding process sets the tone for an employee’s journey in your company. A poor onboarding experience can lead to early departures.
Solution: Create a comprehensive onboarding program that welcomes new hires, familiarizes them with their roles and the company culture, and provides the necessary training for them to perform their jobs effectively.
In conclusion, employee retention is more of an art than a science. It requires a deep understanding of people’s motivations, continuous effort, and a genuine commitment to creating a work environment that respects, values, and nurtures your team. Remember, your employees are your most valuable asset, and investing in their satisfaction and growth is an investment in your company’s long-term success. With these strategies, you can significantly boost your employee retention rate, promoting a happier, more productive workplace.
Starting a business venture can be a thrilling yet daunting endeavor. One of the most pivotal decisions you’ll make on this journey is choosing a co-founder, the individual with whom you’ll experience the euphoric highs and inevitable lows of the entrepreneurial ride. It’s critical that you and your potential co-founder resonate on a multitude of levels to ensure a smooth voyage. In this blog post, we aim to provide a comprehensive guide to facilitate your co-founder discussions, drawing from valuable resources such as Y Combinator’s guide on the subject.
Probing the Inner Drive and Defining the Roles
The first step in these deliberations should be to explore each other’s motivations in-depth. Questions such as “Why are you keen on this startup? What are your personal and professional aspirations, in monetary and non-monetary terms?” will help you gauge if your drives synchronize or if there could be potential friction points in the future.
Discussing Equity, Finalizing Location, and Evaluating the Business Idea
Equity division is often a complicated matter but addressing it promptly is imperative. There may not be a universal solution, but an open, honest conversation can lay the groundwork for a just agreement.
A profound analysis of the business idea and its potential pivot scenarios is a crucial conversation. Gauge your potential co-founder’s flexibility by asking, “If our initial idea doesn’t yield results, are you willing to modify the idea?” This conversation can offer a glimpse into your partner’s adaptability and commitment to the venture’s success, irrespective of the specific business idea.
Scrutinizing Financial Commitments and Examining Work-Life Balance
Work-life balance and working schedules are equally crucial. Engage in a conversation about what your routine working schedules would look like, how long you aim to maintain them, and any non-work-related activities that you consider essential to continue.
Constructing a Team and Resolving Conflicts
As your startup expands, the probability of building a team increases. Engage in discussions about your potential co-founder’s values, their approach to building a team, their vision for the company culture, and their preferred management style.
A crucial, though often uncomfortable discussion, revolves around how you will address disagreements and what the recourse is if you decide to part ways professionally. While it may be tough to navigate this conversation, it’s critical to avoiding bitter disagreements or fallouts in the future.
Deepening Personal Connections
Beyond these business-focused aspects, understanding your potential co-founder on a more personal level can yield valuable insights. Engage in dialogue about past experiences, long-term life ambitions, work preferences, strategies for managing stress, and any external pressures that might be in play. This deep-dive will enhance your comprehension of each other and nurture a robust foundation for your partnership.
In conclusion, navigating the co-founder conversation is a delicate dance. By openly discussing these key topics, you’ll have a much clearer vision of whether or not this individual is the right fit for you, and vice versa. Remember, honesty, transparency, and mutual respect are the cornerstones of any successful co-founder relationship. Embark on this conversation with an open mind and a clear intention for the best possible outcome.
Entrepreneurial minds are perpetually buzzing with ideas. As exciting as each new idea can feel, the reality is, not every one of them will translate into a successful business. So, how do you discern the wheat from the chaff? This blog post lays out seven key points to evaluate whether your business idea holds potential.
1. Solving a Real Problem
The most successful businesses often address existing pain points for customers. Does your idea solve a problem? If yes, is it a problem that a significant number of people face, and are they willing to pay for a solution?
2. Market Research
Thoroughly researching your market is crucial. Understand your potential customers, their needs, and the competitors who are already addressing similar problems. This will give you a clear sense of demand and competition, crucial factors that influence the viability of your venture.
3. Unique Value Proposition
This is where you focus on what makes your idea stand out from competitors. Do you offer better quality, lower prices, faster delivery, excellent customer service, or a differentiated product/service? This unique selling proposition often becomes the backbone of your brand.
4. Profitability
At the end of the day, your business needs to make money. Consider cost factors, prospective pricing, and the profit margin. Conduct a simple break-even analysis: How many units of your product or service do you need to sell to cover costs? If the volume seems achievable, that’s a good sign.
5. Scalability
Your idea may look great on a small scale, but can it grow? Depending on your intentions, it’s essential to consider if your business model could eventually cater to a larger customer base or other markets without a detrimental impact on efficiency or costs.
6. Business Model
How will you make money? A solid business model outlines how your business will generate revenue and become profitable. Whether it’s a subscription model, freemium, e-commerce, or direct sales, ensure the model aligns seamlessly with your product or service.
7. Passion and Expertise
Lastly, are you passionate about your business idea? Running a business requires resilience and tenacity, and your passion is often the fuel you’ll need when the going gets tough. Moreover, expertise in your chosen business sector greatly improves the chance of success.
Testing your business idea against these parameters provides a strong indicator of its potential for success. Remember, however, that even the most promising ideas require a well thought out business plan, a robust marketing strategy, and effective execution to succeed. Business ideas are unique and challenging and require a lot of introspection and analysis. But, taking the time to evaluate your idea thoroughly can save you precious time, money, and effort in the long run. Not every idea will pass this test, but that’s okay! The key is to remain resilient, learn from any setbacks, and keep exploring until you find your winning idea. Fast-growing startups are indeed born from potent ideas backed up by solid execution and an unrelenting passion for success.
Today’s dynamic and ever-evolving business environment demands constant interaction with customers. In the age of the customer, where expectations and preferences shift at the speed of a click, understanding your consumers’ needs and adapting to meet them is no longer a luxury—it’s a necessity. One of the most effective tools businesses have at their disposal to gain these invaluable insights is the customer feedback survey. Customer feedback surveys are a crucial ingredient to business success, and their importance cannot be overstated. Here are some reasons why.
A Direct Line to Your Customer’s Mind
At its core, a business revolves around its customers. The ability to get inside the mind of the customer is a superpower that every business should aim to possess. Customer feedback surveys provide just that – a direct line to understanding what the customer thinks, feels, needs, and wants. Surveys offer an opportunity for customers to voice their opinions and feelings in a structured, systematic way. This enables businesses to quantify and analyze data, identify patterns, and formulate actionable strategies. The feedback received can be about a product, a service, a process, or the overall customer experience. No other tool is as direct and efficient in capturing the voice of the customer.
Customer Retention and Loyalty
Businesses often focus on customer acquisition, but retaining existing customers is equally, if not more, important. It is estimated that acquiring a new customer costs five times more than retaining an existing one. Customer feedback surveys play a crucial role in identifying potential issues that could cause a customer to leave, thus helping companies retain their customer base.
Customer experience is the sum total of a customer’s interactions and perceptions about a company. A positive customer experience fosters loyalty, enhances reputation, and increases sales. Regularly conducting customer feedback surveys allows a business to assess and enhance each touchpoint in the customer’s journey, ensuring a stellar customer experience.
Informed Decision-making
Business decisions, be they strategic or tactical, benefit significantly from reliable data. Customer feedback surveys provide a wealth of quantifiable data, translating subjective experiences into objective insights. This information empowers businesses to make data-driven decisions that align with customer preferences and expectations.
Benchmarking Performance
Finally, regular surveys help businesses benchmark their performance over time and against competitors. It is a way to measure if efforts to improve customer experience, product quality, or service delivery are working.
In conclusion, customer feedback surveys are a powerful tool in the business arsenal. They provide deep insights into customer perceptions, preferences, and pain points. However, conducting surveys is only half the battle. The key lies in analyzing the data, acting on the feedback, and communicating changes back to the customer. This creates a feedback loop that fosters continuous improvement, customer satisfaction, and ultimately, business success.
No business can afford to ignore the voice of its customers. In a world where every customer’s opinion can reach a global audience in seconds, the power and importance of customer feedback surveys have never been greater.
As a business owner, you have a lot on your plate. It is very easy to overlook simple tasks like invoicing when you already have many other priorities. However, beware of these invoicing mistakes that are costing you money. It is something that should require your full attention since small mistakes could become costly to your business. These mistakes can easily be avoided and you will encounter fewer problems in the long term.
Not sending invoices in a timely manner
It is important that you do not procrastinate sending out the invoice. The invoice needs to be prepared as soon as possible and sent to the client immediately. Delays in dispatching the invoice to the client will only affect your business by not getting payment in time. This is something that can easily be avoided to assure you are not wasting any time and assure the proper cash flow of your company.
Not having payment terms
By not specifying the payment terms to the client, they will not know when to pay. This leaves the deadline open to interpretation and most likely causes the client to pay much later or forget entirely. You need to include the terms for example it’s often written as Net 7, 10, or 30 days. This means that the client has 7, 10, or 30 days to make a payment depending on when you choose.
Not specifying payment methods
You need to make it as easy as possible for the client to make a payment and if they do not know how they can pay, then it will result in further delays. Clearly indicating what payment methods they can use, will avoid delays caused either by the client contacting you to ask or by the client pushing it off and forgetting entirely.
Not following up on your invoices
It is important to follow up on your invoices this will make sure that the client has in fact received them. Sometimes, clients will forget to make a payment and by following up with them it will remind them to pay right away. Other times, some clients need to be badgered in order to get the payment from them. In either case, following up will solve the problem is receiving anything late and to assure they received it at all.
Incorrect information
Make sure that the invoice is addressed to the correct person. It is possible that the invoice will not be billed to the same person that you had contact with when you are dealing with a bigger business. Also pay attention that all other information on the invoice is correct such as an address, pricing, and even spelling. Incorrect spelling will make your business look unprofessional which is not an impression you want to give. Before sending out the invoice, double-check that it is the correct information.
Itemizing
It is a good idea to include a list of charges that you are charging the client. This way it will be easier for the client to understand their charges. There will be less confusion and therefore less reason for the client to contact you with any questions that will further delay the payment.
Invoicing and receiving payment is a key part of a business that you need to have under control. When sending out an invoice, your goal is to make it as clear as possible for the client. Set up payment terms, be clear with how you accept payment, and follow up on all invoices to make sure you are paid. The less confusion there is the easier it will be for the client to pay right away.
Social media has emerged as a critical component of marketing to millennials. According to one study, millennials now make up the majority of the population in the United States. As a result, millennials have the world’s largest consumer base. So, in order for your company to grow, Millennials can play a significant role. Here are some general characteristics of Millennials that set them apart from the general population.
Authenticity & Transparency:Millennials, the discerning consumers of today, hold authenticity and transparency in marketing to the highest regard.
Influencing friends and family: This group is more likely to discuss their brand experiences and purchasing decisions on social media, making word-of-mouth marketing particularly effective.
Experiential marketing is a strategy that can be successful with millennials. It involves creating memorable events or experiences that engage the consumer.
In spite of their propensity to shop online, millennials still value in-person interactions and are more likely to make impulsive purchases in physical stores. For many millennials, sustainable and socially conscious business practices are crucial, so emphasizing those features of a product or company can be a successful marketing tactic. Remember that these are generalizations and that not all millennials will fit these descriptions.
There are key things that you need to understand about millennials in order to sell to this market. Doing this will allow you to capitalize on this digitally inclined demographic while increasing profits for your business. Here are a couple things you need to know when marketing to millennials.
Outbound Marketing is Out
Millennials want to feel connected and involved when it comes to their purchases. Traditional marketing does not encourage this. Outbound marketing methods like magazine ads, direct mail campaigns, and radio spots, do not work well with Millennials and should as much as possible, not be used.
Millennials know what they want and, since they are so digitally savvy, they know how to find it online. That is why these young consumers do a lot of their research via blogs, forums, and YouTube videos.
Word-to-mouth culture
Millennials are glued to their devices because they constantly need to be connected. Product reviews and social tools are readily accessible to them. This allows them to research and share opinions before they commit to a product. They purchase from brands and products they can trust and that are endorsed by Instagram influencers or real people.
Instagram influencer marketing is the result of this word-to-mouth culture that values trusted endorsements. It’s not just about having celebrities to make the consumer buy things, it’s about advertising real people. People that the consumer can relate to and trust. A survey shows that 61% of people will trust a friend’s endorsement of a brand and are more willing to buy from that brand. Social media is a way of creating this brand loyalty, it provides an unofficial endorsement in the form of user-generated content that can be reposted by the brand.
Respond to customer service requests, create campaigns that engage customers, and don’t just promote products but add informative posts and info on social channels. By incorporating these strategies into your marketing efforts you can generate/ drive traffic to your website and broadcast your brand’s core values.
You have an 8-second window
Millennials have a very short attention span. Their focus is constantly shifting from one thing to the next. If your content does not capture their attention in the first 8 seconds, then it becomes irrelevant. This is why there is such a high demand for content creators because it’s not easy coming up with something that will grab people’s attention in such a short time frame. You need to be able to help them understand what your product is about and why they should care within those few first seconds.
We have become very fast that if visually something is not appealing then we are not interested and we move on to the next best thing out there. There are so many products available on the market that you need to be able to prove why yours is the best for your consumer and why it matters. The world is constantly changing and improving and if you are not the first or the best to do something then you will completely become irrelevant in a matter of seconds.
You need to visually look the part
Millennials judge with their eyes first. Your website, brand, or ad content needs to be up to par. Visually it needs to be appealing, in style, and professional. If your content looks old or outdated then your brand or product will lose credibility, regardless of what you are selling. Not to mention you will not even have their attention for more than a second.
This generation is obsessed with creating and sharing video content. It is on every social media platform where people can upload short clips and stories on either Facebook, Instagram, or Snapchat. YouTube has become very popular over the past decade and anyone is free to share almost whatever they want. Just about anyone can become famous. YouTube stars are becoming just as popular as celebrities.
Creating video content is the best way to create a connection with millennials. It is a way of grabbing their small attention span. They will be more interested in watching something than reading an ad or looking at a picture since they are so quick to scroll through images. However, your video needs to be professional and visually appealing. You need to create a connection with them, inspire them, and give them a reason to keep watching.
You need to be in more places than one
Millennials have developed a culture of multitasking by constantly switching between devices and platforms. Our generation is plugged into their devices and our attention is split between different platforms. We’re constantly scrolling, switching, and looking at different things. Our attention is not on one social networking app but on multiple platforms all at once. If you plan on running ads through YouTube only then this may not be very effective, as the majority of people will switch devices as soon as an ad campaign comes on. However, this division of attention is used to benefit strategic ad campaigns. By dividing your brand’s ad investment into different platforms, you can extend your reach across different channels.
Brand storytelling
In order to reach millennials, you need to create content that means something to them or that they can relate to. They are receptive to brand storytelling. This generation values being acknowledged, being presented with options, and feeling connected. Your message needs to be intelligent, thoughtful, and inclusive. It is about including everyone together. Millennials are interested in products that are sustainable and make a difference. Slowly products are trying to incorporate these values, which have been attracting millennials to purchase their products. This makes a huge difference when advertising to your demographic, as this generation is more inclined in making a difference. When your product means something and makes a difference, then they will be attracted to your brand or product.
Marketing tactics that might have worked in the past recently changed due to this digitally inclined generation. By directly addressing this generation, brands will be able to create a connection between them and the consumer. Engaging millennials sustain these connections and transform ads.
