Are you looking for video lovers? Then look for Millennials! Also known as Generation Y, (users between 18 and 34 years old), they have an increasing appetite for video content. Learn about their habits and why they are a key audience for your marketing strategy!
Millennials are a very active video viewer's group. In the US, in fact, they are actually the most active video viewer's of any US age group. eMarketer estimates that in 2016, there will be 78 million Millennial digital video viewers, representing more than 92% of all US millennial internet users. This trend won't be different in the rest of the world. It's vital that you get some useful data on how to target this group!
WHY DO THEY WATCH VIDEO?
According to the annual Acumen Report developed by Defy Media, these are the main reasons why Millennials watch video: boredom killer / time filler (77%), keep up with shows, sports, celebrities (63%), stress relief / wind down (61%), stay up-to-date on latest videos / events (60%), time with others / family time (58%), mood lifter / changer (57%).
It seems that, according to these statistics, many of the activities that make Millennials watch video content have to do with their personal life and entertainment in general. Even then, the surprising thing is that they also accept advertising. In fact, they have their own preferred formats. In particular, these are the ads that they consider that are always or sometimes okay: 5-sec introduction with brand sponsor (89%), digital celebrities announcing brand sponsor (87%), 15-second preroll (80%), digital celebrities using products in an off-beat way (78%). (Check out the full infographic here)
WHAT ARE THEIR HABITS?
Let's analyze some of the main habits that this key group has:
- Millennials are social media enthusiasts: Generation Y is using social media more than any other group. Check out these statistics: Millennials are 4 times more likely to use Instagram and twice as likely to use Twitter weekly than non-millennials. What are the main sources they can't live without? MANY of them are social media platforms: YouTube, Netflix, Social Media (net), TV, Facebook, Snapchat, Instagram, Tumblr, and Twitter.
- Millennials are active sharers on social media platforms: 1 in 3 Millennials share content daily and 84% of Millennials share online content monthly (NOTE: did you know that videos are the most shareable type of marketing content?)
- Millennials have a strong inclination to mobile viewing: nearly half of Millennials (48%) ONLY watch videos on their mobile device. Additionally, Millennials are 3 times more likely than baby boomers to watch a video on their mobile device.
WHY IS IT IMPORTANT TO TARGET MILLENNIALS?
Why should you focus on this specific group? Let me share some points:
- A recent research carried out by Animoto shows that Millennials are primed to spend more than $200 billion annually starting in 2017. And what is more: video marketing plays a key role when it comes to influencing what they buy. To put it in numbers: 80% of Millennials use video to help them decide which products to purchase.
- 76% of Millennials follow brands on YouTube. YouTube is the #2 largest search engine and #3 largest social network on Earth and, as we've mentioned, it's perceived by Millennials as the main source they can´t live without. It´s also the main source that dominates youth´s video diet. Also, as Wired reports, YouTube reaches more Millennials than “any single US cable network,”
- 60% of Millennials prefer to watch a company video than reading a company newsletter. You need to understand that Generation Y simply prefers video to text.
- Millennials play a key role not only when it comes to consumption habits. Have in mind that they will also be (or already are) the ones who will make decisions in choosing companies. You really need to focus your efforts in learning how to approach them, and video is one of the best channels, as we can see. It's becoming increasingly more and more important for them.
HOW TO APPROACH THEM
Let me give you some basic final ideas on how to approach this specific group.
- Make a demo video: did you know that 85% of Millennials find product demos useful?
Tip: there are many other video marketing formats you can leverage to target Millennials or any other target group. Read this article and learn 4 essential marketing videos your business needs.
- Tell your customers´ stories: 69% of Millennials find customer testimonials useful.
- Promote your video on social networks: 84% of millennials follow brands or companies on Facebook, 75% follow them on YouTube and 47% follow them on Twitter. They love social media media platforms and this is where you'll find them.
So...are you already using video to market to Generation Y? If not, you'd better start! You'll find them on social media platforms, for sure; they just love them! They're commenting, sharing and even buying online. If you want to promote your product/service and reach this specific audience, consider making a video as part of your marketing strategy. This is one of the most effective ways to reach Generation Y nowadays.
Tip: Do you want to know how to improve your marketing strategy with an explainer video specifically? Download this free eBook and get all the information you need.