As a small- or midsize-business owner, you may be wondering what you need to know about millennial media consumption. Millennial consumers, those born between 1980 and 2000, have a lot of buying power. In fact, there are 92 million millennials in the United States alone, according to Goldman Sachs. This group is consuming advertising and marketing content in a whole new way, leaving many marketers wondering how to reach them. The following are four millennial media consumption trends to help you create targeted marketing initiatives that get results:
1. Make Everything Mobile
A few years ago, experts advised marketers to have a strong online presence, which meant creating a decent website that could be indexed on search engines. Today, however, mobile is everything. According to a 2014 study by comScore, 60 percent of digital behavior now occurs on mobile devices. Consumers spend 52 percent of their online time using apps or visiting websites on smartphones or tablets, rather than on desktop computers.
As a marketer, this means you have to think with a mobile-first mindset. Perhaps you don't need your own mobile app, but you do need to optimize your website for mobile devices. Many businesses, large and small, prioritize how their sites look and function on mobile above desktop optimization.
2. Increase Personalization
It's annoying to see an advertisement or email message that doesn't help you. A Janrain study found that 74 percent of consumers reported feeling frustrated when they were served irrelevant content. Today's online consumers don't have a lot of patience, so marketers need to increase personalization and give consumers exactly what they want. Companies are now able to serve up more personalized content, which helps them better target their advertising and marketing efforts, resulting in more sales.
3. Authenticity Trumps Advertising
A study by the Boston Consulting Group found that millennials identify with brands more personally and emotionally than their parents. Fifty percent of surveyed millennials between the ages of 18 and 24 feel that brands "say something about who I am, my values and where I fit in." Because of this, marketers must be authentic and transparent in their efforts, employing methods that foster relationships. Many brands use friendly, approachable copy and post content on social media sites frequented by members of their target audience.
4. Research Before Purchases
Because millennials are so savvy in the digital world, they don't make purchases blindly. They conduct research online when they make a buying decision. In fact, according to Marketing Land, surveys conducted showed 88 percent of millennials researched products and prices online when they were in a physical store on Black Friday in 2015, pulling their smartphones out of their pockets to get a better understanding of the product before they made a purchase.
Blogging, SEO and content marketing efforts are increasingly important for marketers, since many millennials will consult helpful blogs before looking to TV news, magazines or books. If you want to market to millennials, make sure you understand how they function in a digital environment.
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