The term “millennials” is often used as a label that dismisses an entire generation as lazy and temperamental youth. The truth is, these younger consumers, aged 23-36, are far more knowledgeable and practical than older generations tend to think.
Growing up during a technological revolution, millennials conformed to constant connectivity and social media as they came of age. Because of this, they are 2.5 times more likely to adopt new technology. This means they are also constantly flooded with content and ads.
The millennial market is a wide segment. This is important to remember if you want to target them in the most efficient way. Millennials have unique characteristics and diverse interests, and it also depends on what stage of adulthood they are in.
As millennials continue to dominate the marketplace, it is crucial for brands to know the most effective ways to reach them online. How do you market to millennials, and how do you make sure your brand stands out for them to notice? Let’s get to know this generation better.
Profiling the market
According to a 2019 study by the Global Web Index, millennials make up a significant number of the workforce. To date, they account for a quarter of the world’s population.
Contrary to popular belief, millennials are not lazy—they are driven and career-oriented. 64% of millennials are full-time employees, while 10% are self-employed or freelancing. Despite coming of age during a global recession, they are doing well for themselves. As a result, their purchasing power is substantial.
Their generation is also highly independent. The study showed that 70% of internet users who are millennials live in urban areas. 45% are married, and 49% are living with their partners. 46% of millennials are parents, while 6% are students. 93% of them are independent household-earners.
While the smartphone is the number one device of choice, with 96% of millennials owning one, they are also known as multi-device users. They typically complement phone use with PCs and smart TVs. Millennials spend an average of 3 hours 49 minutes on their phones every day. This is slightly longer than the global average of 3 hours and 23 minutes.
Millennials and the media
Millennials are consistently consuming media wherever they go, thanks to smartphones. According to the Global Web Index study, they spend 2 hours and 44 minutes on social media daily. Much of their time is also spent on online TV and video streaming as well as music streaming.
Second-screening, or using another device while watching TV, is very typical of millennials. 69% say they browse social media while watching, while 65% say they chat with friends on messaging apps. This gives brands more opportunities to reach millennials with targeted content.
A typical millennial has an average of 9.3 social media accounts. 88% of millennials outside of China have Facebook accounts, with 45% saying they use it more than once a day. YouTube follows in terms of engagement, with 87% of millennials using it daily.
What does this mean? Brands can no longer do with just targeting millennials on one channel. Given their social media presence and frequency of use, campaigns need to be rolled out across different platforms to ensure that millennials can engage with your brand.
Millennials are highly engaged on Snapchat and Instagram, with Instagram having a higher number of members and visitors than Snapchat. Since this market uses social media to consume rather than contribute, brands can use this approach to develop visual content that highlights lifestyles and offers inspiration.
As an audience, millennials still mostly rely on search engines for brand discovery. 36% of millennials cite search engines as their number one source, while 30% find brands through word-of-mouth recommendations and another 30% through social media advertising.
What is the best way to do it? Native advertising, or the use of paid ads that match the look and function of the channel on which they appear, are more effective since they reach audiences right when they are seeking content. For brands that want to target millennials, native ads can be used to target the audience amidst all the noise online.
In GetCraft’s Philippine Native Advertising and Influencer Marketing Report 2018 (Download the report here), we found that native ads outperform display ads, with consumers having more positive attitudes towards them than display ads. Almost 60% of brands want to do more influencer marketing campaigns, which enables them to maximize their reach.
When doing product research, 51% of millennials go to search engines first, closely followed by 46% who search on social media channels. With the way this generation relies on social media for information, brands need to leverage their campaigns in a way that will maximize the reach of each post.
Empowering their generation
As audiences, millennials like to do research before purchasing. Since they look up information online through search engines and social media channels, brands should drive content that is user-centric in order to capture the millennial market.
Authenticity is important to millennials. They count on people they know personally and online to help them make purchase decisions. When content resonates with millennials, they make an effort to share it with their community as well.
Personalized content allows millennials to determine which brands specifically cater to their needs. They look for brands that offer helpful interaction with them through content experiences that are targeted towards their generation.
In our Philippine Native Advertising and Influencer Marketing Report, we confirmed that the top three most effective native ads are paid social media posts, branded content, and sponsored influencer posts. This can be leveraged by brands that want to target millennials who are always ready to consume content.
Since millennials value authentic and value-adding content, brands can quench their thirst for knowledge through content marketing. How can a brand make sure they are doing it right? Relevant and consistent content creation will allow them to connect with millennials who feel represented in their language and messaging.
Marketing to millennials can seem daunting. Remember that this generation is savvier than those that precede them. It can be hard to cut through the noise, but if your brand employs strategies that put millennials and their experiences first, you can stand out.