Millennials have forced the ad industry to change the scripts, encouraging more honest and creative content. But according to Eytan Elbaz, co-founder of digital content companies Render Media and Social Native, the generation also cares about socially conscious content.
Elbaz focuses on branded advertising, what used to be called "product placement." He told Cheddar what his company is doing to get this form of advertising right. For starters, he said, it’s important to look at companies as millennials do.
“We are shifting the perspective,” Elbaz told Cheddar.
The man behind "Cooking Panda" and "Opposing Views" says that his company is creating branded content that highlights how products impact the people involved, because this is what millennials care about. For example, for effectiveness, a coffee brand would highlight its relationship with farmers and suppliers.
“Millennials...care about the way these coffee companies are impacting the world around them,” he said.
Branded content, which has become popular with social media influencers, has become a huge business. Research firm MediaKix projects the influencer marketing industry will rake in $2 billion by 2019.
Similarly, a study published by Goldman Sachs points out that millennials are social and connected, and 38 percent communicate with others about products and brands via social media.
Still, for some companies creating branded content that’s perceived as real and natural remains a challenge.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
