SUMMARY: Millennials make up 25% of the population – 3X the size of Generation X and also larger than baby boomers. They spend $200 billions on an annual basis. However, 84% of Millennials stated that did not like traditional marketing and, what’s more, they didn’t trust it (Source: McCarthy Group). So what’s the best way to reach them? Online video.
The McCarthy Group has reported that 47% of Millennials state the Internet is the one thing they cannot live without. And, in addition to locating information, they use social media to discover how brands are promoting themselves and, most importantly, who is promoting and recommending those brands.
Millennials love to shop by word of mouth, particularly online. And it is not only their Facebook friends and family that they listen to. It is large and smaller personalities that they do not know personally but who can personalize a brand for them. And if in that personalization, these influencers can hit a “hotspot” of millennial values and beliefs, all the better.
So how do you reach Millennials with online video?
- Millennials want to be entertained. Brands that can enlist sponsorship by digital personalities who entertain have a winning formula
- Millennials want to be a part of a cause. If, in their sponsorship, digital personalities can speak to a brand’s social responsibility or its support for an important cause, Millennials will not only be drawn to that brand but will be willing to pay more for a product or service.
Online Video Statistics:
- 75 Million people in the U.S. watch online videos everyday.
- Merely mentioning the word ‘video’ in an email subject line, the click-through rate increased by 13%.
- Nearly 50% of all video is watched on a mobile device.
- By 2019, internet video traffic will account for 80% of all consumer Internet traffic
- [inlinetweet prefix=”” tweeter=”” suffix=””]Videos up to 2 minutes long get the most engagement.[/inlinetweet]
- 82% of Twitter users watch video content on Twitter
- YouTube has over a billion users, almost one-third of total internet users.
- 45% of people watch more than an hour of Facebook or YouTube videos a week.
- More than 500 million hours of videos are watched on YouTube each day.
- More video content is uploaded in 30 days than the major U.S. television networks have created in 30 years.
- 87% of online marketers use video content.
What’s all this mean?
1ne: While video is a hot-button marketing tactic brands have to make their video relevant and not reuse TV spots.
2wo: Understand why your audience is watching your video content and continually optimize the content.
3hree: Keep is short. Attention spans online are very short.
4our: Entertain, don’t just sell.
5ive: Keep your video content fresh.
One other thing..Don’t fall for the stat about people who watch your branded video content being more likely to purchase your products. Someone is not going to watch a video on the new Subaru Outback unless they are considering buying a new care or they are already a Subaru customer.