How video works so well for businesses with Millennial consumer audiences
The great video epidemic of 2018.
The majority of modern-day consumers are known as ‘Millennials’. Millennials are defined as individuals that were born anytime between 1980 and the early 2000’s.
As most of you will be aware, in the last 10-15 years, mobile phones and social media have become a significant part of how we all live our lives, but even more so for Millennials – which is why so much attention surrounding Millennial life is focused on both things.
Arguably, one of the major positives of having constant access to mobile phones and the internet is the ability to access information at the touch of a button. However, many would argue this obsession has gone a tad too far. The Telegraph conducted a study using 1,000 young individuals, which involved taking away their mobile phones for 24 hours. The results showed that 50% of these individuals could not fulfil this time period, with almost all members of said study claiming to have suffered ‘withdrawal symptoms’ to some extent.
Despite the limitations, it is evident that social media and mobile devises aren’t going anywhere any time soon, with sites such as Facebook leading the way for Millennial connectivity and communication. Facebook is a free, social networking platform which allows us to upload content such as pictures and videos, but has also adapted to allow for consumer behaviour including advertising and online shopping.
It is extremely common for businesses to use social media sites such as Facebook, Twitter, Instagram and LinkedIn to promote, advertise and converse with other businesses and their customer-bases. The age demographic of Facebook shows that the majority of its 2.2 billion users are Millennials, ranging between 18-24 in age. And what is one thing these users have in common? Why, a love for video of course!
Research indicates that Millennials tend to favour video marketing over any other source. Video and slideshow company, Animoto, concluded that whether video is via social media, email or the brands own website, modern day consumers are placing more value on video when deciding to purchase goods or services. Statistically, Animoto found that 60% of millennials prefer to watch a company video over reading a newsletter. 80% of Millennials also find video the most helpful during initial purchase research.
But what does this mean for business?
If you’re looking to expand your product to the Millennial market, you need to step up your video game. Whether you’re posting fun content of your cute pets, or you’re creating tutorial videos for your products – stats indicate that you are much more likely to succeed in your business efforts if you step up your video marketing game on social media.