Your share economy campaigns leverage unique segments of your Millennial audience, which means that the objectives you create will relate to a particular audience construct (niche) and may not necessarily focus on long-term goals. Your goals can relate to universal objectives, such as driving up brand awareness, engagement, or conversions, but they must target a particular segment. If the campaign has the share economy as its focus and your goals relate to the audience that you cultivated for the share economy, then your objectives will work.
Ask yourself the following series of questions to simplify the process of developing your niche goals. They can help you construct readily achievable objectives.
- What are you going to measure? To create your objectives, you need to determine what you want to measure. For example, if you’re providing a learning exchange where participants are sharing knowledge with one another, are you going to measure the amount of data collected or the size of your growing user base of experts? These are two separate objectives, and while you can aim to achieve both, you need to have a different objective plan for each one.
- Does the share economy campaign operate in a vacuum? You need to decide just how connected your share economy initiatives will be to your overall objectives. The share economy has some unique aspects to it that may not fit in with the rest of your program, but this isn’t to say that it will be different from your brand online. Branding attributes and your brand persona will be consistent wherever you have a presence, so ask yourself this question: How much of your brand and the brand experience will you incorporate into your share economy campaign?
- What universal elements of your marketing strategy tie into the share economy campaign? You shouldn’t run the risk of conducting an effective share economy campaign only to find that several members of the community aren’t familiar with your brand outside of your share economy platform. For this reason, you need to identify those elements and ensure that they’re present and represent your brand well.
- Does the campaign end with the share economy, or are secondary actions important? You’re targeting a unique segment of your Millennial audience that is particularly attracted to the concept of sharing. However, you should also include incentives that push your audience to take another step beyond the share economy. It can be a download or an incentive-based signup, such as a discount code that encourages share economy participants to become customers.
Millennials want access over ownership, at least at first. Providing them with an option to participate in the share economy aspect of your business can mean giving them the desired access until a fraction is eventually ready to buy.
