Interest and discussions surrounding the 76 million millennials and their impact on social media, marketing and social commerce are seemingly increasing every week. Brands and marketers are seeking data to bolster their digital marketing efforts around this group, their interests and online patterns and rightly so. Millennials are unique in that they are not influenced by traditional ‘push’ marketing strategies as other population segments have been in the past and more importantly they have been raised with the digital world in place, rather than migrating to it as those before them.
Using data published in a report by UMass, we have created an easy to consume Infographic that contains the key points every brand and marketer should know. Following the infographic we break down some of the data points and include some takeaway action steps you may want to consider.
The Data Highlights:
- 35% of Millennials are likely to use a “buy” button on Facebook and 24% are likely to use one on Twitter, should those be provided by the platforms.
- Facebook declines but is still the most popular platform among Millennials when looking to interact with companies/brands online. While their numbers have fallen slightly, Twitter and Pinterest have made modest gains. Fifty-five percent of respondents currently like at least one brand on Facebook (down from 62% last year). Twitter has 29% (up from 23%) and
- Pinterest has 16% (up from 11%) of Millennials following or pinning a company/brand.
- Hair, Beauty and Apparel continues to be the category in which most products are purchased by Millennials across all platforms studied.
- Relative to users of larger platforms, Pinterest again has the highest online sales conversion rate. Fifty-one percent of Pinterest users make their purchases online exclusively compared to 16% of Facebook users and 35% of Twitter users. The user-friendly, highly visual design of the website facilitates information search and evaluation of alternatives. Pinterest makes the transaction process flow with optimal ease for consumers.
- 48% of Millennials use smart phones to make purchases online and 21% use tablets.
Action Plan Takeaways:
If millennials make up part or all of the target audience you are trying to reach through social and digital channels, there are a few things you need to consider:
1) You will not be successful pushing your marketing on them. They have been raised in the digital and social worlds and therefore relationships, conversations, trends and transmedia approaches are required, not optional.
2) You will have to be highly active and effective on multiple social media channels if you wish to get and keep the millennial attention.
3) Having a clear and optimized mobile strategy that works with millennial usage patterns is also required. They spend far less time on desktops and therefore the channels and media types you employ must be optimized for mobile and tablet.
4) A strategy and plan for social commerce is required. This is how millennials want to purchase. Make it easy for them to do so.
5) Curate and Create content at much higher frequencies for this group. They are online more frequently and consume content when and how they want.