Marketing to Millennials: 5 Things Marketers Should Know
comScore, Inc. recently published its latest whitepaper Marketing to Millennials: 5 Things Every Marketer Should Know, that provides companies with important context for understanding the media consumption habits of this very valuable demographic, defined in this report as 18-34 year-olds. In addition to Millennials accounting for a disproportionate share of total screen time, their digital behavior also provides some insight into what the broader media landscape will look like in the future.
There are some key questions answered in the Marketing to Millennials whitepaper. These include:
How much more time do Millennials spend online and on mobile platforms than their older counterparts? What percentage of Millennials owns a smartphone? Do they prefer Android or iPhones? To what extent do Millennials still use Facebook? Which other social networks do they engage with? How do Millennials prefer to watch TV compared to other age segments? What about their behavior makes them harder to reach with TV ads? Why should marketers focus on digital platforms for advertising to Millennials?
Based on these questions, some of the key findings of the report include:
#1. Millennials spend a good portion of their lives online, and are mobile heavy in their usage: While mobile internet users account for a smaller user base, Millennials who engage via mobile spend considerably more time than desktop internet users. Millennials are clearly a highly mobile bunch, and by virtually every metric they are more reachable and engage more often on this medium. In fact, marketers who do not leverage mobile as a primary digital marketing platform for Millennials may miss a large segment of them entirely.
#2. Millennials more likely own smartphones and have affinity for iPhone. Millennials have a substantially higher rate of smartphone penetration with their age segment than their older counterparts, with more than four out of every five Millennials using a smartphone compared to just over two out of three 35-54 year-olds and two out of five 55+ year-olds. Among the smartphone owning population, 50% are on the Android platform, but they have a higher than average affinity for Apple products.
#3. Millennials’ social activity is more fragmented, but Facebook still rules the most differentiating aspect of their social media behavior is their fragmentation of usage beyond Facebook. Millennials are active on all seven of the selected major networks, skewing more heavily than their older counterparts on Instagram, Twitter, Tumblr, Pinterest and Snapchat. All but the very new and fast-growing Snapchat have at least 27% of this younger demographic visiting their site or app monthly, while only Linkedin has a higher reach among the older age segments.
#4. Millennials watch TV on their own schedule unlike their previous generations. They strongly prefers watching video on-demand and TV shows on the Internet than those 35 and older.An increasingly challenging aspect of marketing to Millennials is that they are more difficult to reach via TV advertising than the older population. In fact, 90 percent skip ads when watching recorded TV, which indexes higher than the other age segments. All of this could sound daunting for advertisers, but it really just means that they have to get smarter about targeting their audience on the right platforms – particularly online video.
#5. Millennials view more digital ads, are better targeted on average, a key reason for marketers to focus on digital platforms for advertising to Millennials is that they are more easily reached through these media. In terms of desktop-based display advertising, the average reach of Millennials 28% higher than for 35-54 year olds. Not only are Millennials more likely to be reached by advertising on larger content networks, but they are also delivered a substantially higher overall frequency of ad impressions than those above 35 years.
To download a copy of Marketing to Millennials: 5 Things Every Marketer Should Know, please visit: http://www.comscore.com/Insights/Presentations_and_Whitepapers/2014/Marketing-to-Millennials-5-Things-Every-Marketer-Should-Know
About comScore comScore, Inc. is a global leader in digital measurement and analytics, delivering insights on web, mobile and TV consumer behavior that enable clients to maximize the value of their digital investments. For more information, please visit www.comscore.com/companyinfo.
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