MILLENNIALS – MYTH BUSTING!
Moosylvania is an agency working in the digital arena. Their clients include Universal Studio Home Entertainment, Alamos Car Rental, Enterprise Car Share, PayPal, Spectrum Brands, and many others.
They recently completed a study of 1,000 Millennials across America to find out if what we think about their behavior matches with what they do.
These results impact radio station branding and behavior in the digital age:
Forty percent of Millennials are young, between ages 13 and 23; 60% are 24 to 33. They’re attractive to advertisers and are often more savvy than those trying to reach them know.
Males make up 52% of this group, women 48%; 22% earn between 50 and 75 thousand dollars a year and 56% earn less than 50k, due to their youth.
Millennials are regarded by their elders as angst-ridden hipsters. That’s myth #1. Moosylvania’s research shows they prefer transparency over trends, and they are not simple followers.
Asked to name their favorite brands unprompted, the largest mention is Apple at 7.5% - hardly an overwhelming figure. Samsung came in at 4.5% of mentions and Sony at 4.1%.
Having been digital users most of their lives, Millennials will advocate for a brand if they believe it is authentic. What do they mean by “authentic”? That a company answers questions honestly, delivers on what it promises and builds trusting relationships with its followers.
59% will “Like” a brand on Facebook
57% will tell their friends about the products they like
54% will shop in a physical store for these products
“Liking” is all too easy, but look at the 54% who will go to a store – that’s strong endorsement of a brand.
The second myth says Millennials shop online almost exclusively. If 54% will shop for a brand in a physical store, that can’t be true. They go online to do their research about things they might buy.
They find new products on and off line:
51% check Facebook
45% hear from friends or family
36% saw a TV commercial
32% saw something new in a store
30% checked a brand website
To compete with brands and companies Millennials trust, you have to read reviews by real people, study the competition’s online messages and ads and meet their transparency and promise delivery standards.
Millennials want details and information. This means they also want reassurance. Even after a purchase, they will continue to check reviews, opinions and online information on what they’ve bought.
The survey respondents’ descriptions of how they shop are illuminating:
53% say they prefer to shop alone
40% prefer to shop with a friend
22% say when they are in a store, they often contact friends for
opinions and advice
When they contact someone about a purchase:
22% send a text message with a photo
13% make a phone call (yes, they do still talk on the phone)
11% send text, no photo
7% use Facebook or other social media
How they shop and seek reassurance means you need to cover all appropriate channels of communication. You want your content to shine in any context, be it website, Facebook, or station cell phone app. You also want it to be easily shared. For example, don’t bury your contest info – put it right out front.
Whether you’re selling yourself or your clients, it’s important to note that Millennials want content on a website or other platform that provides context, such as how-to information or reviews.
Here’s how they respond to content that provides what they want:
55% go to a store or event to see for themselves
43% ask for opinion from a friend or family member
33% respond to written reviews [listener generated content matters]
The lesson: Advertising that creates context will cause them to invest in your product.
Focus on staying true to your brand, deliver on what you promise and make sure that information is available on all platforms. For radio, that means imaging, listeners on the air and on the website, going beyond “Likes” on Facebook and other social media.
Copyright © 2014 Shane Media All rights reserved.
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