Millennials is changing how marketing is done. With an age between 18-34 they are quickly becoming the biggest consumer group in the world, in the US they have already surpassed the Baby Boomers (age 51-69) which was the group every marketer targeted for several decades. What sets the Millennials apart from other groups is the fact that they rely on other people’s opinion and not on marketing when they make their purchases. To reach out to the Millennials a totally new marketing strategy is required, P2P marketing.
Some recent surveys in the US reveal some interesting facts:
- 89% of millennials trust recommendations from friends and family more than claims by the brand
- Nearly half (44%) of millennials are willing to promote products or services through social media in exchange for rewards
- 84% of millennials report that user generated content on company websites at least somewhat influences what they buy
- 84% of millennials don’t trust traditional advertising
Most of this of course makes sense to everyone, if someone recommend you a movie you will probably watch it, the same goes for restaurants and even mobile phone recommendations. This is why many brands today use ‘influencers’, typical being bloggers and famous people, to recommend products. Influencers makes a ton of money recommending all kinds of products, and as with traditional marketing they often will recommend whatever they get paid to share with their followers, even if they don’t like the product. We don’t think influencers are the future of P2P marketing, everyday people like you and me are the future of P2P marketing!
Aspiring is building a concept where everyone can share products and brands with their social networks. Instead of being an influencer you are a brand ambassador, you share something you believe in. Contrary to influencers that get paid one sum to recommend a product we in Aspiring pay you over and over, you refer the costumer so it’s only right that we pay you for life. For the business/product this is a much better deal, they don’t have to pay you upfront, they pay for the marketing after they have made their sale. It is a win-win business model, especially for you as you build a long term passive income.
Confused about what P2P marketing is? It is simply what word of mouth used to be when neighbours chatted about their experiences with businesses and products before we started sharing our experience and opinions online.