PayPal knows what Millennials want – SPEED and CONVENIENCE!
Online payment provider PayPal is making a major play for the Milennial dollar – and it knows exactly what it will take to get it: speed, and convenience. Younger consumers, who have grown up with Ecommerce and are “digital natives” have gotten used to doing things easily, and getting results quickly. PayPal – which is a big part of that trend and knows how to deliver in regards to these factors – is leaning on them in its latest messaging. You can check it out below:
PayPal’s director of consumer marketing in Australia, Liz Lefort, says that the latest creative is aimed at “time poor digital natives”, and made the following comment over both the spots content and its run time:
"It's said that we have a shorter attention span than goldfish. Part of it is absolutely being short and succinct and straight to the point, but it comes back to being a shortcut and you can't be a shortcut if you're taking 30 minutes to explain why you're the shortcut. It is a highly engaged world that we are living in and it is full of messages. So, being able to cut through to an audience in a way that is important and mean something to them is an ongoing challenge and will remain a challenge."
PayPal’s share price has appreciated by 20% year to date
Source: Yahoo Finance
PayPal has a lot of factors in its favour, all of which are important: for one thing, security. The fact that it’s choosing to focus on speed and convenience demonstrates very clearly how in touch it is with Millennial consumers. Lefort says it’s a “rookie mistake” assuming Millennials will come to you. Instead "It is more about being relevant, showing ways that you are part of their lives and you can make their lives easier. It's not about us."
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