Vice Media CEO Shane Smith sat down for an on-camera interview at the recent Cannes Lions festival to talk about how brands can better reach young adults—the desired millennial demographic. Vice recently worked with Bank of America to create a series of financial videos for young viewers. Shane explained what he told BoA about communicating with millenials.
“Young people are now growing up and needing financial advice. Banks don’t have the best reputation. Well, what would you do? I said, ‘It’s very simple—just give them factual here’s what a mortgage is, here’s how you lease a car, here’s renting versus buying, all that stuff. Just a service, basically,” Smith said.
The series, called The Business of Life, uses analytics provided by Pinterest. Data is critical for video marketing, but Smith explained why simply having good data isn’t enough.
“Everyone’s actually getting into video now, and that’s good for us because we’re a video company. We do a lot of research, but to have cutting-edge analytics, as you well know, that’s one of the lessons of this Cannes has been who has the best analytics. Analytics doesn’t mean anything unless you can actually convert that into something. I think that—data, data, data—everyone’s so enamored with data, but unless you can actually use that to do something for the brand or for the audience or for the platform, it doesn’t really matter,” Smith explained.
Scroll down to view the full interview with Shane Smith, used with permission of Beet.tv.