Millennials, people born during the ‘80s and ‘90s, make up a powerful market. This group of people is graduating from school, starting their careers and buying homes and cars and usually has the freedom to purchase things like tech gadgets, fashion items and home accessories.
Because of the unique demographics of millennials, and the fact that they make up the current generation of young people, many businesses include them in their target markets. The key to reaching them may be in just two marketing tools.
As reported by SocialTimes, new research shows that mobile videos have incredible power with millennials, who use them as they shop and connect with brands. The study revealed that as compared to older generations, millennials are 146 percent more likely to watch videos from company websites while online shopping.
But, that’s not all; millennials are also 150 percent more likely to use videos to comparison shop while they are in a store than older generations. Chances are that these videos are being watched from mobile devices.
A few more video statistics from the study include:
+ Millennials are 264 percent more likely than older generations to share videos about a company, product or services.
+ 76 percent of millennials in the study follow companies on YouTube.
+ 45 percent of the millennial respondents reported they would rather watch videos on their mobile devices than on a computer.
+ 48 percent of the respondents said they only watch videos on their mobile gadgets.
What to do Now
These findings emphasise the fact that video marketing, especially when optimised for mobile devices, is extremely important. You can use this at your business by producing videos to complement your marketing plans and making sure they are easily accessible via smartphones and tablets.
Create a solid presence on YouTube, promote your videos through your other social media networks, use product videos and use things like QR codes or posters at your stores to direct shoppers to your online videos.
The second essential tool for reaching millennials is social media. The same study found that millennials are using social media, in a big way, to interact with businesses. The fact that 76 percent of millennials follow brands on YouTube supports the idea that this demographic prefers video, and also gives you a simple way to promote your marketing videos.
But, millennials are also using other social networks:
+ Almost half of millennials follow businesses on Twitter.
+ 84 percent of millennials reported that they follow businesses on Facebook.
+ Four in 10 millennial respondents follow businesses on Instagram.
There’s no question that social media is a major online marketing player, and these statistics prove how important it is when trying to reach millennials.
What to do Now
Since millennials prefer to use social media to interact with brands, you should meet this market there. While you may already be using several social media sites, are you using them to target millennials?
Analyse your target markets and decide where millennials fit into your marketing strategy, then make sure your social media accounts will attract this group. Post content that would interest them, join groups and conversations that they follow and be sure to use the sites your market is using.
If you aren’t using video and social media marketing to target your millennial audience, these statistics illustrate why you should. It’s also wise to revisit your video and social media strategies periodically to make sure you are using them to their fullest potential.