Millennials, also known as Generation Y, are considered to be those individuals who entered adulthood around the turn of the 21st century. According to the U.S Census Bureau’s International Database, Millennials were born between the years of 1980 and 2000.
Did you also know that an estimated 1.8 billion people worldwide are considered Millennials? Millennials make up 25% of the world’s entire population! In June 2015, the U.S. Census Bureau even announced that Millennials now outnumbered Baby Boomers, who were once the largest demographic.
Social Media Behavior
If you are between the ages of 18-30, you are more than likely active on more than one social media channel. Millennials are now experiencing and sharing more of their daily lives online than any generation before them.
From Facebook to Twitter, Instagram to Snapchat, YouTube to Pinterest, the list of social channels goes on and on. Whether you are reading about news online, posting your reaction to a recent event, laughing at a meme, or forwarding a GIF, there is no doubt that today’s youth spend the majority of their day online.
This just goes to show that Millennials are engaging, authoring, and using social media more and more every day. They are the first generation to own smartphones and are even considered to be the first digital generation.
Besides connecting with friends, many Millennials use social media as a source of news and collecting information. Millennials, in particular, say that they prefer obtaining their news on social media in comparison to other forms, as it exposes them to different opinions and viewpoints. According to The American Press Institute, 88% of Millennials gather their news from Facebook (88%), YouTube (83%), and Instagram (50%).
How Social Media Has Changed
Millennial behavior has changed over time. Either this age group has gotten older, their attitude towards social networks has changed, or they believe that certain social media channels have changed themselves. Nowadays, users are more likely to remove content they have previously posted that they find embarrassing or outdated. Whereas years ago, the shelf life of online content was longer. They’ve even tailored the way they use social media channels and are taking note of emerging trends. Millennials are now starting to use different platforms for different purposes. Whether it’s Linkedin to find a job, Twitter for rants, or Instagram to find the best spot to hit in town, Millennials choose which social channel to engage with based on their needs.
The Age of Digital Shoppers
A large population of Millennials translates to more purchasing power. According to a survey conducted by Accenture, Millennials spend roughly $600 billion each year. It is predicted that by 2020 that amount is expected to increase to $1.4 trillion, making that a whopping 30% of total retail sales! The Total Retail 2016 report by PwC states that Millennials are even online while they’re in the store. This demographic is a group of smart shoppers. From price matching to extensive research on products and reviews, there is no doubt that these young individuals enable a lot of bargaining power.
The Death of The Newspaper
Whether you want to believe it or not, Millennials are always on the go. Time to say goodbye to the days of physical print copies and hello to virtual scrolling. Millennials prefer reading news shared by their friends via social media than sitting for countless hours listening to the radio, watching the news on TV, or flipping through an article in a newspaper. They absorb, search, and view news on their tablets, smartphones, and even their smartwatches. It is safe to say that these Millennials tend to check their social feeds more than their news feeds. Thus, this means that the attention span of a typical Millennial is short.
What Attracts Millennials to Follow Brands Online
Millennials like to follow their favorite brands online. However, what is a major deciding factor in choosing which brands to follow online is their social. Typically, they look for brands that have appealing graphics, short but well-written content, a good following with an engaged community of fans, and content that is easy to understand and up-to-date. In general, Millennials tend to search for news (59%), travel (59%), or food (62%) via these social channels. Millennials want to interact with the brands they love and the products and services they buy.
With this being said, there has been a drastic move to social media and digital marketing. More and more companies are making the switch from billboards and magazine ads to digital advertisements and corporate social media profiles. As a consequence of this, thousands of jobs have been created over the past few years within the realm of digital media. That’s why it’s not uncommon for companies nowadays to invest millions of dollars a year on digital marketing strategies, content writers, online adverts, and social media management.
How to Attract This Generation
Having trouble attracting young people to your social channels? Don’t fret, a lot ofcompanies are struggling to find ways to connect with this Millennial generation.
This demographic grew up using the Internet and are the earliest adopters of new technology. Their tastes and preferences change as fast as the newest iPhone update.
Now the big question is how do you attract this huge population of Millennials to your page? First, you must take some time to educate yourself and learn more about this demographic. Millennials have become a big focus for many companies in the marketing industry. It can be a challenge. Especially since Millennial behavior is finicky.
Remember when MySpace was all the rage? Or when Twitter was always blowing up with constant updates? Things change quickly in the digital world. Tastes and preferences are constantly switching and trends can change in a span of a couple of hours.
The best predictor of future behavior is analyzing their past behavior. Companies must take note of where their target audience is currently present and where they could potentially be headed to next. Millennials are more likely to enjoy indirect marketing. Thus, the idea is to sell without selling directly. When Millennials look for new products or services, they typically will consult trusted sources like families, friends, or social media influencers and will spend countless hours researching reviews.
As Millennials grow older, there are only a few years until Generation Z will begin to take over and create the path for future social media trends.
Millennials are a huge market right now. Are you looking to attract Millennials to your company’s page? Whether you’re looking to incorporate PPC, local map services, website design, social media management, or audio and visual, you’ve come to the right place! Let our experts at Quick Marketing Group handle all of your social media needs! Contact us today to get a FREE social media analysis today!