Many companies, services, and products are being marketed to the generation called Millennials. They are set to take over the population of Boomers as their number explodes to 73 million, compared to the declining 72-strong of Baby Boomers. Millennial is a term used to generally describe an age group that spans between the year 1981 to 1996.
For some, millennials are head-strong individuals that
Millennials have different habits than any other generations. And that is how businesses would like to take advantage and position themselves. Baby boomers had blockbuster and Millennials have Netflix. Netflix ultimately killed Blockbuster and any other video rental entity out of business. If you are thinking of winning the millennial market in the entertainment department, well you need to know the note-worthy streaming habits of this bunch.
It is no secret that traditional and cable TV and the like are experiencing a steady decline in viewership. Many companies point out to the millennials habits as the cause of this demographic shift. But research conducted by Parks Associates
Millennials always like to be on-the-go, and watching a certain TV program won’t even stop them. So instead of sitting on a couch, they’d rather watch program-on-demand service.
TV Connected Devices
Who doesn’t love a wide flat screen smart
– Amazon Fire TV
– Apply TV
– Google Chromecast
– And Gaming Consoles
The habit of using TV-connected device services results in the decrease of traditional TV consumption of up to 27% less.
People used to only have the option to either idolize a political figure or Hollywood celebrity, but in this day of age, there is a new famous in town and those are the social media influencers. Social media influencers are individuals with a significant following and consistent viewership in several social media platforms like Facebook, Instagram, and YouTube. Vloggers are everywhere on YouTube. These individuals talk, show and share how their daily life works and millennials dig their daily postings.
The good news for business minded people is to know that millennial consumers tend to discover brands and products through watching vlogs by an increase of up to 17 percent.
We’ve already stated that millennials still do watch TV, but they aren’t as focused as before. The moment a program is interrupted by a commercial, Millennials will instantly switch back to their smartphones. This millennial habit leads to the ineffectively of traditional advertisement as people find ways to keep them entertained.
But we are also incentive motivated. If you notice, YouTube videos sometimes having Skip Ad buttons, sometimes not, as millennials it’s ok to have those ads pass by as long as we know we are going to watch our daily dose of vlogs for free and in our most convenient time.
Super Smartphone Users
Millennials have come to the point where their lives revolve around smartphones, and of course, even in their streaming needs. We are hardcore smartphone users. We wake up starting the day by checking our phone, and sleep at night with the last thing to check is still our phone. If you want to reach the millennial market, you need to think of ways to be present on mobile devices.