MEASURE OF IMPACT OF

SOCIAL MEDIA
MARKETING ON
MILLENNIALS

Submitted by :-
Name : TEETAS SAHA
Roll no. : 19MB4026
Session : 2019 - 21
CONTENTS :-
1. Abstract
2. Objective
3. Introduction
4. Review of Literature
 Millenial
 Social Media
5. Social Media Marketing
 Roles of Social Media Marketing
 Marketing strategies
 Quick problem resolvement
 More sales
 Free
 Branding
 Leads to conversion
 Improved insights
 Social medial platform to research
6. Millennial’s spending behavior
 What do millennials majorly spend on?
7. How do we measure the impact of Social Media Marketing on
millennials?
 Whats special about millenials?
8. Conclusion
ABSTRACT :-
The rapid increase in the usage of online social media is helping brands to connect
with prospective customers. Social media marketing is the new strategy for many
brands since last few years. Companies are focusing on increasing their social
media presence and are beginning to implement new social initiatives at a higher
rate in recent times. One important target audience for brands in this context is
millennial because millennial are digital natives, which means that they grew up
with a level of technological literacy that's fairly new to the market. This nature of
millennial makes social media platforms an opportunity for marketers to reach
them. This study attempts in measuring the impact of social media marketing on
millennials.
OBJECTIVE :-
This study aims at achieving the following objectives:

 To understand the growing demand for social media marketing

 To analyze the impact of social media marketing on buying behavior of

millennials
INTRODUCTION :-
Rapid changes in technology are making consumers’ life easy day by day and their
buying behavior is changing constantly accordingly. Consumers do not have time
to think about their purchases or even to visit actual stores. That is why online
shopping became a trend so fast. It lets buyers save time, effort and helps to
superpose buying with some other activities because it can be done from any place
where there is an internet access. This constant change in the environment and
technological advancements have redirected consumption, ways of doing business
and means of promotion. The marketing has reached a new scale with the
invention of the Internet and the social media resulting in the emergence of social
media marketing. It is the new marketing concept and companies have started
using a social media platform to reach their target audience. As we know Social-
media marketing is changing fast but it's not just the platforms that are dying and
being reinvented or replaced almost daily. The methods of measuring engagement
and conversion are continuously moving and maturing as well. Furthermore, the
demographics of the audience behind these tweets, posts, and pins are constantly
evolving too, from college-aged hipsters to retirees. Still, the golden ring of social-
media marketing, so to speak, is the mysterious breed known as Millennial, aka
Generation Y. But before we begin marketing to Millennials, it's important to
understand they're not children, nor are they a homogenous demographic that plays
to the commonly held stereotypes. They are constantly evolving, sometime even
faster than social media, they get bored with things too easily and move on; hence
it is crucial to understand their mindset and keep up with their pace.

Social media marketing is helping companies to implement their strategies with

ease. Companies are using social media as their marketing strategy mainly in the
following areas
1. Creating brand awareness
2. Brand building
3. Customer acquisitions
4. Introducing new products and services
REVIEW OF LITERATURE :-
Social media comprises internet-based applications that build on web 2.0 and
promote online interaction among users to communicate with each other (Montoya,
2011; Johnston, 2011) to create, transform and share. According to authors
Devault and Weigand, social networking sites as a marketing tool have
become so valuable that retailers are relying on newer software to reach the most
influential customers (DeVault, 2012; Weygand, 2009). Sweeney and Howe &
Strauss identified millennia’s as demanding consumers who expect a large variety
of items, personalization, and customization of goods and services, as well as
instant gratification (Howe & Strauss, 2003; Paul 2001; Sweeney, 2006).
Sweeney and Howe & Strauss also state that millennia’s are believed to be good in
multitasking and are grown up in a digital world and are at home with a constantly
connected, consumer-driven, networked world (Howe & Strauss, 2003; Paul, 2001;
Sweeney, 2006). According to Goldman Sachs Global Investment Research,
millennia’s are the first generation of digital natives, and their affinity for
technology helps shape how they shop. They are used to instant access to price
comparisons, product information, and peer reviews.

 Millennial :
Millennials, also known as Generation Y (or simply Gen Y), are
the demographic cohort following Generation X and preceding Generation Z.
Researchers and popular media use the early 1980s as starting birth years and the
mid-1990s to early 2000s as ending birth years, with 1981 to 1996 a widely
accepted defining range for the generation.[1]
Millennials are sometimes referred to as "echo boomers" due to a major surge in
birth rates in the 1980s and 1990s, and because millennials are often the children of
the baby boomers. This generation is generally marked by their coming of age in
the Information Age, and they are comfortable in their usage of digital
technology and social media. Millennials are often the parents of Generation
Alpha.
Howe and Strauss describe Millennials as “the most watched over generation in
memory” and “regarded as special since birth” because they spent considerably
less time unsupervised compared to previous generations, and were told they were
special their entire lives. Howe and Strauss consider Millennials to be the first
generation, influenced by satellite learning and the internet, to grow up thinking
about themselves as global citizens. In a study by Laleh Patel (2010) on using
social media to improve workplace learning, Millennials reported significantly
higher rates of acceptance of social media as a learning tool compared to older
generations.

 Social Media :
Social media is a term that is used quite often these days. Social media is a
collective term for websites and applications which focus on communication,
community-based input, interaction, content-sharing and collaboration. The
emergence of social media began in the early days of the internet when people had
just started sharing information and communicating online. Over a period of time
as the technology matured, new platforms were developed where regular users,
without any technical background, could also use these online services with ease.

The term ‘social media’ can be derived from two words which constitute it. Media
generally refers to
The term ‘social media’ can be derived from two words which constitute it. Media
generally refers to advertising and the communication of ideas or information
through channels. Social implies the interaction of individuals within a group or
community. Taken together, social media simply refers to communication
platforms which are generated and sustained by the interpersonal interaction of
individuals through the specific medium or tool.

Today a large number of social media platforms have been developed that smooth
the progress of sharing information and generation of content in an online context.
There are a number of social media that facilitate these activities, such as
Wikipedia, Facebook, YouTube and Twitter. Individuals apply different social
media tools, such as online forums and communities, recommendations, ratings
and reviews, to interact with other users online. In fact, individuals are attracted
online to exchange information and receive social support. The success of the new
generation of social media platforms, mainly Facebook and Twitter, changed the
way we socialize, interact and shop. It empowered the people to express their
thoughts and opinions on any product or services and share them with others.
SOCIAL MEDIA MARKETING :-
Social media is a platform which not only connects people worldwide but
also serves best for Digital Marketing. Digital marketing is a practice
which is usually performed to connect the target audience to the business
owners. This is done to expand the business quickly and efficiently. Role
of social media in digital marketing is one of the most suitable and
preferred methods to generate leads.

Social media, unlike any other channel the world has known, is driving
transformation in the field of marketing. Social media has caused existing
boundaries between marketers and customers to dissolve. The frequency of
interactions between marketers and customers has increased in the recent times as
more and more customers have started adapting to digital advancements in online
social networking.

Social media marketing includes activities like posting text and image updates,
videos, and other content that drives audience engagement, as well as paid social
media advertising according to Sprinklr, a social media platform providing
company, more than 2 billion people around the world are interacting directly to
brands and connecting directly with each other through social networking sites.
These conversations can have a significant impact on brands which are active on
social media sites. Social media marketing possesses targeting and real-time
engagement capabilities that other channels lack.

Role of Social Media in Digital Marketing :

1. MARKETING STRATEGIES
Ever since social media has become a tight necessity for the crowd these
days, we can easily have a sneak peek into everybody’s lives. This sneak
peak is highly beneficial for the purpose of marketing. You can easily get
to know about the updates people make on daily basis and plan
accordingly. You can categorize them on the basis of their interests and
have high probability of meeting the right customers.
 2. QUICK PROBLEM RESOLVEMENT
Social media provides an opportunity to quickly react to the feedback.
Either the outcome is positive or negative, you have got the way to
respond within seconds. A research has found that customers are more
likely to remain consistent to those firms who respond to their queries
and feedback. Tweets and statuses depict if any issue has been arrived
from the side of customer and you can take the appropriate steps to
resolve it, this will help in customer retention.
3. MORE SALES
When you always remain in front of the customers, they are more likely
to buy items frequently from your store or connect with your services.
Social media helps to present your firm repeatedly in front of the
customers. In some amount of time, their attention is most likely to
drawn towards your business which might eventually leads to  sales
increment. Also you can provide incentives to your customers.
4. FREE
Unlike most of the online digital marketing tools, social media is free to
use and promote stuff. You can create a page of your business without
spending a single penny on it. Target your audience, achieve reports,
connect with customers, learn their interests, approach them, solve their
queries, reply on their feedback, make improvements, do daily updates
and a lot more without worrying about the money.
5. BRANDING
Trust is the key towards success. You read it right, customers tend to rely
on the bands which has already built trust in the industry. All of the
famous brands which have been in the market for a while now are
reliable. No matter if you are about to earn your voice in the market or
you have been struggling for some time, social media promises to get
your voice real soon considering your services to be at par. People tend
to recognize the brand more once they start noticing the stuff over social
media. Don’t take social media for granted in terms of voice and powers.
Using social media for branding is a most promising technique.
6. LEADS TO CONVERSION
Every post your share, post, update, comment has a higher probability of
turning leads to conversions. For each reaction you receive over the
image probably leads to your conversion. Not all reactions contribute to
the conversions but those with positive interactions. So, the more
attractive you represent your site in terms of info graphics and content,
the bold your hold becomes in the industry. This will be extremely
helpful in increasing the conversion rate .
7. IMPROVED INSIGHTS
It has been observed and concluded that knowing your customers is vital
for success. By knowing them, you can build up more précised list of
targeted customers. You can even learn their interests and traits and get
to know how to approach them in a way that they cannot resist
themselves from connecting you. Even you can observe the comments
being made on your business page to learn what customers think about it
and how can you make it better. It Is a very healthy practice though. This
ecosystem can be highly beneficial for you if you know how to use it
correctly
8. SOCIAL MEDIA – PLATFORM TO RESEARCH
Researchers have proved the fact that people rely on the brands that have
enhanced and better version of their presence on the social media sites.
This is because social media marketing addresses the customers well and
in return customers learn a lot about their brands. An active social
networking account adds value to your business. A socially active brand
makes to the top of the industry. It is easy to define you and your brand
through social ecosystem. As soon as you understand the value of it, start
working without wasting time.
MILLENNIAL’S SPENDING BEHAVIOUR :-
Among various generations who engage themselves in social media activities,
millennials are said to be the more active online and spend an increasing amount of
time on various social media sites. Millennial are those individuals born between
1980 and 2000 and makeup 25% of the world’s population, according to the U.S.
Census Bureau’s International Database. Roughly 1.9 billion people worldwide are
considered Millennia’s.
Born in the golden age of digital technology, millennia’s have embraced
technology as a means to make life easier and more efficient. This is the first
generation to have never lived without internet, a generation which values
experiences more than anything. Millennia’s, therefore, have different
consumption patterns. Retailers, manufacturers, and advertisers have realized that
using social networking sites is the best way to reach millennia’s since more than
55% of teens and young adults use these sites.
The full impact of Millennials purchasing power and brand preferences will come
into full effect in 2020 when their purchasing power is projected to reach $1.4
trillion.

What do millennials majorly spend on ?

It has been a trend that millenials spend more on comforts and conviniences which
include –
 60% of millennials spend more than 500 on a single coffee
 70% of millennials will spend a little extra to eat at a hip restaurant in town
 69% of millennials buy clothes for reasons beyond basic necessity just by
seeing a advertisement on social media
 Over 50% of millennials spend money on online cab services
Millennials spend more per year on things like –
 Groceries
 Gas
 Restaurants
 Mobile phones, as nearly all own smart phones and comprise the highest
usage as well
 Hobbies, electronics and clothing
Millenials tend to spend less money on –
 Television, as streaming services have come online, cable is becoming a
service of the past
 Travel, because they’re unable to afford regular vacations and struggle to
save for them
 Pharmacies
 Furniture or building materials
HOW DO WE MEASURE THE IMPACT OF SOCIAL
MEDIA MARKETING ON MILLENIALS?
“Not everything that counts can be measured. Not everything that can be measured
counts.”
–Albert Einstein
Social media outlets have been hailed as a powerful new tool for marketers to use
to reach consumers and create buzz. The millennials are the driving force behind
what could well be any country’s mobile economic revolution. The millennial
population, 18 to 35 year olds, shall doubtlessly hold a significant sway over the
immediate economic future. Their influence could far exceed their numbers. Since
they were born in the digital era, their embrace of online shopping through mobile
devices, bolstered by rapid expansion of broadband internet and WiFi availability
and reliability, is set to revolutionize the business landscape in the world.

What’s special about Millennials?

According to the Financial Times, research shows that by 2020 millennials will
make up 35 per cent of the global workforce. That is a significant chunk of the
population that no one can or should ignore.

“Millennials are 44% more likely to trust experts, who happen to be strangers, than
advertisements and 247% more likely to be influenced by blogs or social networking
sites.” — Hubspot.com

Despite these statistics, enterprises and brands still fail to meet the expectations of
millennials. Given these statistics, it would be a folly to refuse to engage with
millennials. It is important that in order to succeed, grow and sustain in the long
run, brands must engage with their millennial clients. 
CONCLUSION :-
Millennials could become the largest disruptive force for the years to come and this
trend is still in its nascent stages. The youth of this generation are better educated,
better connected to information and better connected to the world than their
predecessors in prior generation. As more people are adapting to changes in the
technology and social networking sites, it is expected that brands will continue to
increase their online social media presence. Brands will continue to focus more on
millennial’s since they are digitally savvy and have more purchasing power than
any other generation group in today’s scenario. Digital advertising has a great
influence in how millennia’s perceive a brand and the brand’s value, which means
brands and marketers need to continually employ new ways of engaging millennial
consumers across Smartphone, tablet and social media platforms in order to fully
captivate and retain millennial’s. Millennials expect a two-way, mutual
relationship with companies and their brands. To reach Millennials on social
media, brands must become a routine part of their conversations concerning
product information, updates and special offers. Rapid changes in technology are
making consumers life easy day by day and their buying behavior is changing.
lack.
Rapid changes in technology are making consumers’ life easy day by day and their
buying behavior is changing