I was recently speaking with someone in the automotive industry who said something really profound about their business. He said, “I’m not worried about reaching my existing clients, as they already know where to find us. I’m worried that my existing clients’ kids won’t know how to find us.” He went on to explain that for decades (family business handed down by dad and probably even granddad) his customers had what is commonly referred to as “generational loyalty”. The notion that a service or product is used by all family members because that’s where mum and dad go, and that’s where their mum and dad went and so on.
Simply put he said: “that’s gone.”
Nowadays some offspring in the Gen X, Y and the iGen will not use a product or service just BECAUSE their parents used that product or service.
“I want to tap into the next Gen,” he continued. “How do we build loyalty with a market we have never before been in touch with?”
Of course this kind of enlightened thinking in business is music to my ears because for the last 12 months I’ve been in the very competitive social media space, and it’s not the first time I’ve heard this exact sentiment from dozens of other businesses from completely different industries. Accountants, solicitors, banks, real estate agents, hair dressers, mechanics, café owners, publicans…the list goes on. And the reason it’s music to my ears is because we have just created a platform that allows that very market to be tapped into. And not in a talking at you kind of way, but a talking to you, kind of way – through video stories.
Video stories are the way of the future when it comes to promoting a brand to the masses. Narrative driven videos that can explain not so much why you’re the best at what you do, but what you can do for your customers.
I recently did a presentation in front of the medical profession in the beautiful Mansion Hotel and Spa in Werribee just outside of Melbourne (think Downton Abbey on steroids) all about imagery and video in their practice, and the three steps I highlighted as being the most critical were:
The primary point however was the good old “WIIFM” mentality. Right at the start of this process, within the concept stage, the question has to be raised, “have we addressed the WIIFM?” WIIFM stands for “what’s in it for me?” This is what we ask ourselves as consumers every time we take out our wallet or click play on a video. What do we get out of it? How will it improve my life? Does it solve my problem?
So going back to the gentleman in the automotive industry, his question has become, “what’s in it for the next generation?”
Here’s what the next generation want:
- Speed of delivery
- Convenience and accessibility (usually via the internet)
- Someone they can Trust
- Value for money
- Respect (without judgement)
Here’s what you need from the next generation:
- To be found
If they don’t know where you are or what you do (for them) then you better hope that “generational loyalty” is strong – because guess what…the next gen are one day going to be THE gen who purchase and remain loyal. “It’s a marathon, not a sprint” as John McGrath once told a room full of people I was in way back in my first year in real estate and that statement remains true for all aspects of business. Start your video marketing now, in front of the target market of tomorrow and establish relationships of trust for the long term.
Adam Drummond is an actor, presenter, speaker and CEO of waggawagga.tv
15th May 2015 – Launch of waggawagga.tv
6:30pm gates open at MTC Wagga and general public are FREE with access to bar and food to purchase on the night. Entertainment all night by Groove Factorie and you will have the chance to meet John Wood from Blue Heelers, Rosso from TV and Radio, Ben from BB12 plus loads more local and national celebrities on the red carpet premiere.
If you would like to know more about what waggawagga.tv is and how it may benefit your business through either advertising or by appearing in the business directory, simply email email@example.com or call 02 6971 7771. One on one demonstrations of the site are still available if you would like to see it with your own eyes.