Millennials spend 48 percent more time watching video online than the average internet user, if we go by the recent survey.
As perplexing as millennials might be to other generations, the fact remains that the world should criticize less and observe more. Millennials don’t just hold the key to the future. They are the future.
Millennials represent the majority of the workforce and consumerism. They command how products are bought and sold. What can marketers learn from the current behavior? In this section, we will focus on the Millennials consumption of digital video content.
Seventy-six percent of Millennials follow a company or brand on YouTube. And 60 percent watch company videos over reading a newsletter. Here’s what your organization can glean about the future of buying based on current millennial video habits.
Video Content Is Challenging Sales Representative
Sales reps have become insignificant, all because of the significant changes in buyer behavior. Consumers (namely millennials) are more independent and less apt to rely on a salesperson to reach a purchasing decision. Instead, they seek guidance and validation through content like case studies, customer reviews and online videos. Study states 85 percent of millennials find video product demos helpful. Video is highly informative, self-serve and engaging.
If the salespeople want to reclaim their place in the millennial buyer’s journey, they must reinvent how they assist customers.
Use Multiple Screens to Reach Buyers
Forty-eight percent of millennials view video solely on their mobile device and, more than half of all video viewing is done on smartphones. However, 67 percent of online buying is conducted via desktop. What can we summarise from this information?
Buyers (especially gadget-loving millennials) are using multiple devices to complete a purchasing decision.
Forbes reported that 87 percent of millennials use between two and three tech devices on a daily basis. Another source says that universally, 90 percent of people use multiple devices for purchase-related activities.
Omnichannel Video Marketing Is a Must
With Sixty-two percent of millennials expect a brand to engage them on social media networks and when video is a part of that engagement, having a website and blog no longer is enough to attract buyer attention. Landing page videos increase conversions by 80 percent, and email videos increase click-through rates by 96 percent.
However, the most seasoned marketers understand that merely existing on all channels isn’t enough.
Most marketers are placing content distribution and amplification among their top priorities. Pay special attention to millennial demographic as you strategize for these areas. If they aren’t already the key to your success, they will be in the next five to 10 years.