Millennials on Social Media - 6 Things Every Marketer Should Know

Born between 1981 and 1996 (ages 22-37 in 2018) - Millennials, have become the most desirable audience for brands. They're known for setting the tone and trends for the rest of the content landscape. So let's dive into how this demographic impacts on brands, and what behaviours Marketers need to know.

1. What's All The Buzz About

Millennials are seen as the future of mass consumption, with the most spending power of any generation, estimated to reach $3.39 trillion this year (Oracle). In addition to being bankable, they're the best-educated group of young adults in US history, with ? (ages 26-33) having earned at least a four year college degree (Pew Research Center).

Social media, constant connectivity and on-demand entertainment and communication are innovations millennials adapted to as they came of age. Here we have a digitally savvy bunch, over 85% of whom own smartphones (Nielsen), and spend about 25 hours a week online, with a strong belief in community and connection.

2. 'FOMO' Is Real

A recent Eventbrite survey found that 78% of millennials prefer to spend their disposable income on experiences rather than things. 82% of respondents stated that they had attended at least one live event in the past year and plan to spend more on such events in the coming years. Here's where FOMO (Fear Of Missing Out) kicks in, when events such as concerts are publicised on social media and millennials see friends signing up. They worry about missing out on an experience that could be fulfilling, unforgettable or 'Instagram' worthy.

This sort of social pressure has escalated due to constant advertising and promotion on social media sites. Bands that millennials follow on social media will take out sponsored Facebook and Instagram ads, and they’ll post tour dates and concert lists. When all of this information is in a person’s face 24/7, that person will feel incredibly pressured to join in.

3. The Rise of Closed Networks

Did you know younger millennials are moving away from public broadcasts that “live online forever,” and let Mom, Dad, your boss, the neighbour, and the guy down the street know exactly what you’re up to. Simultaneously, this has led to an increase in the attraction of smaller, closed networks such as private Facebook groups, direct Snapchats, Snapchat groups, protected Instagram feeds, and messaging apps like WhatsApp and FB Messenger.

4. Video Is King

As traditional cable continues to see a decline in engagement, social media videos rise at an impressive rate. As of this year, video streaming represents 74% of all internet traffic. Over 54% of millennials visit YouTube at least once a day. Facebook video garners a lot of engagement, with 100 million hours of videos watched every day, but this is still a sliver compared to YouTube’s 650 million hours. At any rate, that leaves a lot of potential for brands to get in on the action. In addition, live video is a fantastic way to earn engagement with fun authentic content.

5. Keeping It Real

84% of millennials don’t trust traditional advertising (Hubspot), and only 6% consider online advertising to be credible (SocialChorus). Whilst 95% believe friends to be the most dependable source of product information (SocialChorus). Maybe people are simply exhausted after decades of ads shouting at them to spend their cash or maybe our culture has shifted to one where companies have to woo their customers in a game of hard-to-get. Instead millennials tend to trust product endorsements from Social Media Influencers. According to Google, 73% feel a close relationship with at least one YouTuber. These influencers are seen as anti establishment, authentic people with no hidden sales agenda. Sharing, creating or consuming perfectly imperfect content, just for the heck of it. For many millennials influencers are likeable, accessible & plausible ... potential friends.

There are of course different ways to integrate or build an Influencer marketing plan. The answer isn't always trying to work with the top guns. In fact, any brand can afford to take a micro-influencer approach to social media marketing by asking existing customers and fans to participate in their marketing campaigns. To get your own micro-influencer campaign started, research the popular Instagram, Pinterest and Twitter accounts in your community. This could include anyone from a high school fashionista with a couple hundred local Instagram followers, to the local Mom-blogger with a couple thousand Pinterest fans who shares recipes and travel advice. Reach out to the appropriate people and start a conversation about your goals, their approach to social media, and how you could best reward them in return for a few authentic, branded posts.

6. To Share Or Not To Share

41% of millennials use Facebook daily (Fluent) & 5 out of 6 connect with companies on social media networks. So there's no disagreement about which social media platforms millennials are — and are not — using. Most have Facebook, but it’s not a place to freely share thoughts and updates anymore. Instead, they’re using Instagram, Snapchat, and other channels. Arguably, there’s so much pressure to publish content that generates a lot of likes and comments … so much that many people would rather not post at all. The bar has been set so high — by everyday users, by influencers, by brands — that they’re no longer confident in their ability to craft amazing content. This decline in sharing has been reported from time to time, notably in April of last year, when leaked Facebook data revealed there’s been a decline in personal updates on the platform:

Facebook has been struggling to reverse a 21% decline in ‘original sharing,’ or personal updates, from its 1.6 billion monthly active users.

And So ...

“Millennial” has practically become a buzzword in the last few years...and for good reason. They’re the largest - and arguably loudest - generation out there, and they’re sticking around for a while.

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About Ngozi _ In A Nutshell

"As a Marketing Specialist with 10 years experience in hospitality, retail and fashion. I write about what’s working and what’s challenging in this exciting world of digital marketing.

To trending topics, social media highs / lows, whilst giving useful marketing tips along the way. My content is generally driven by personal experiences in the realms of B2B and B2C marketing, mixed with a healthy dose of research and data analysis. I also write from my perspective as a female go getter, consumer and marketing strategist, living in this crazy, fast changing digital world".