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AdWeek: Pandora vs Spotify and the fight to win Millennials

Most of today’s brands are vying for millennial attention, dollars and certainly their influence. Over the last few years, global automakers, traditional CPG brands and Fortune 50 companies alike have routinely questioned what it takes to win the love of the most influential buying generation ever.Screen Shot 2015-09-30 at 1.53.30 PM Interestingly, two of the most relevant millennial brands, Pandora and Spotify, don’t have huge overlap in their approaches to garnering loyalty. What they are doing, however, applies to every publisher with millennial targets and content. As covered by Ad Week, below are some highlights of the discussion held at Ad Week between the two companies CMOs about how they think about making their brands meaningful to millennials, all of which apply to publishers of every kind. Make a really great great product and continually delight people with it.
Spotify CMO Seth Farbman aptly points out that “marketers cannot just put a message out there and hope for the best. Your product and service is the most important thing. If it does not deliver, you shouldn’t even bother marketing it.”Data will pave the path for making the best choices.
Listen to the data for notes on how to interact with your community, what’s working and what’s not working, and use what is successful to make money. One of the strongest examples of this Pandora’s CMO Simon Fleming-Wood points out is that 85 percent of listening is done on mobile, which is used as a major selling point in convincing brands to buy more smartphone and tablet-size promos.When everyone is trying to do the same thing, find new ways to make what you’re doing stick.
Figure out a way to sell your product because it’s the best product, not just on brand alone. Because Pandora and Spotify are dealing with virtually the same type of product, they have to think about ways to make their listeners loyal. Spotify releases a new playlist every Monday and according to Farbman it becomes “a physical thing to hold onto” for users that they look for and enjoy each week. Pandora, on the other hand, feels that “the way that we interact with our fans is very much in personalized conversations,” which the company works hard to make go both ways. Offline opportunities to get in front of listeners are incredibly important.
Event marketing is playing a big role for both brands. Bringing their brands, companies and music to life in front of users through concerts, experiential installations at events like South By Southwest and anywhere else they might be able to stand out off the screen gives consumers another potential touchpoint with the company.  Publishers can think about each of these different headlines to expand reach, draw in additional readers and continue to make their communities more passionate about the products they recommend.

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Industry News,Uncategorized