Study Highlights Best Practices For Connecting With The Millennial Market
Millennials represent approximately 30 percent of the U.S. population, and connecting with this demographic group represents new challenges and opportunities for marketers. A survey of more than 1,100 Americans by Clever, a real estate marketing company, identified certain tools and platforms to best connect with the group.
Clever found that Facebook remains the dominate social media channel to connect with Millennials, although younger members of the generation have increasingly turned to YouTube and Instagram as their platform of choice. Millennials are also increasingly becoming concerned with privacy, with 77 percent apprehensive about companies’ use of their personal data—a Pew Research study found that 26 percent of adults deleted Facebook from their phones following the Cambridge Analytica scandal and that share rises to 44 percent among those ages 18-29. Despite these concerns, Millennials are 25 percent more likely than older generations to buy a product or service because of an ad on social media, and they’re 25 percent more likely to engage with online ads in general.
Influencer marketing has also shown to be an effective tool for reaching Millennials. Clever reports that 54 percent of Millennials are more likely than older generations to buy a product or service recommended by a social media influencer, such as a YouTube or Instagram star. The right tone in advertising is also a consideration, with the study showing that humorous ads are the most likely to resonate with Millennials (43 percent), followed by informative ads (29 percent).
The recommendations of friends online have shown to influence Millennial purchasing decisions. The survey found that 65 percent of Millennials are more likely to buy a product or service recommended by a friend on social media. However, only 32 percent of Millennials—and only 15 percent of those 18- to 24-years-old—would willingly submit their name, email and phone number for a downloadable guide or resource. A factor in this is website or app design, as 92 percent of Millennials say that a site or app’s appearance influenced their decision to submit personal information.
For more details from Clever’s survey, click here.