I’ve probably sat through at least a dozen talks on marketing to Millennials in the past three years. On Twitter, there are daily chats focused on uncovering the secrets to reaching this mythical audience.
Though Millennials eat three meals a day, go to school, and put their pants on one leg at a time like the rest of the world, marketers seem miffed on how to reach them with content they’ll love. Maybe it’s because I am a Millennial, but the hype around marketing to this demographic totally confuses me.
So I decided to dig into recent data surrounding video content consumption by Millennials, specifically consumers between the ages of 13 and 17. I wanted to gain a better understanding about their behavior toward video content, and see if their actions differed that much from the general population.
This article will be broken up into three parts, focusing on storytelling, mobile technology, and hosting platforms.
How Much Do Storytellers Matter to Millennials?
Has storytelling become a buzzword yet? If not, it won’t be long before it’s synonymous with other clichéd marketing phrases. Nevertheless, stories move people to action and, in many instances, those who tell stories hold the key to success.
In Defy Media’s latest ACUMEN Report, Millennials between the ages of 13 and 24 were surveyed about their video viewing habits. The research found this age range watches an average of 11.3 hours of free online video per week, compared to just 8.3 hours of linear broadcast television.
We know Millennials love free online video content, but Defy Media wanted to discover what exactly drew this audience to online videos. Data shows 69 percent of respondents said digital creators provide them with the content they want, and 67 percent claim online video content is easy to relate to. Many respondents say they even feel close to their favorite YouTube stars.
Sixty-three percent of respondents said they would try a product endorsed by a YouTube star they follow online. That’s compared to 47 percent of Millennials who said a traditional media celebrity would convince them to do the same thing.
However, that same report ranked the top social media mobile apps among Millennials, and YouTube was nowhere to be found. According to the report, Facebook, Instagram, and Snapchat command Millennials’ attention on their mobile devices. And as technology moves more toward an app-based, mobile world, YouTube’s considerably lackluster app experience may mean a drop in influence for these online stars. What’s a marketer to do?
How Do Millennials Access Video Content?
Video content consumption is up 16 times what it was in 2011. That’s according to a recent Ooyala report, which analyzed the online video consumption habits over Q4 2014. While not exclusive to Millennials, this data shows a massive migration from desktop to mobile video experiences.
According to the research, 38 percent of online video plays in Q4 2014 happened on a tablet or smartphone—double the activity a year prior. Ooyala’s numbers also show that December 2014’s mobile views were up 15 percent from the previous month, accounting for the highest viewer rates since the beginning of the company’s benchmark report.
In a separate but relevant study by comScore, 40 percent of all time spent watching TV takes place on mobile devices. Sixty percent of Millennials now watch TV and digital video on their smartphones every month. However, acquiring premium viewer data may become increasingly difficult due to a new trend called “cord cheating.”
A study from The Diffusion Group found that over 20 percent of Internet video users are using somebody else’s password in order to access online content. That means marketers are using inaccurate data to target ads and content at premium video users.
So where should video marketers be promoting their content to reach Millennials?
Which Social Media Networks Really Matter?
Vidyard’s latest video marketing benchmark report found that over 70 percent of marketers say video content performs better than text- and image-based media.
A more recent Nielsen study, commissioned by Facebook, may back this theory up. According to the report, simply publishing a video to Facebook leads to greater ad recall, brand awareness, and purchase intent, even if viewers don’t actually complete video content.
“Results show that from the moment a video ad was viewed (even before one second), lift happened across ad recall, brand awareness, and purchase consideration. That means even people who never watched the video, but did see the impression, were still impacted by the ad. And, as expected, lift increases the longer people watch the ad.”
With younger consumers still using Facebook more than any other social media app, brands marketing to Millennials should be careful not to doubt the largest social hub just yet.
Now What?
Brands have trouble reaching their audiences, no matter the demographic. Millennials are no different.
But recent data does point to a solution that may become increasingly obvious as time progresses. To Millennials, storytellers matter—and they matter more than the brand putting the media out.
Influencer marketing has grown in relevance over the past three years, as organizations have looked for ways to tie their products and services to YouTube, Vine, and teen celebrities. Even when these stars embarrass themselves online, businesses rush to new influencers to tap into their market sway.
However, YouTube isn’t the future for marketers or Millennials. Numerous studies show Facebook will continue to dominate video content consumption, and more so through mobile channels.
Cocreating content with influencers and releasing it via Facebook will undoubtedly reach a Millennial audience. Now, the question is this: Do brands have the technology and resources to scale this type of program to compete with media hubs such as BuzzFeed and Upworthy? When it comes to marketing to Millennials, that’s a whole other challenge yet to be addressed.
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