Archive for Millennial

What Influences and Drives Millennial Purchase Behaviors?

YuMe, Inc.DMI, an audience technology company powered by data-driven insights and multi-screen expertise, is out with a new eBook, Millennials Evolved.

YuMe surveyed more than 5,000 consumers to understand how cultural, environmental and life events influence purchase behavior, media viewing habits, device preferences and the impact on consumer marketing.

And what did the study find?

While there are common characteristics that define the entire generation, there is more depth and nuance to the audience that advertisers should be aware of in order to influence this segment and drive higher engagement.

Millennials, we’re told, are more likely to watch TV shows than older generations but are less likely to watch cable television, according to the study. They are turning to streaming and downloading for video and are much more likely to watch video content of any sort: movies, music, and web videos.

Because of these technology attachments, it may be assumed that Millennials have completely delineated their habits from other generations. However, the research demonstrates that they are only incrementally different from other generations.

So what did we learn from the findings?

“Marketers must go beyond the stereotypical definition of the Millennial consumer, taking into account all of the nuances that make this generation unique, in order to deliver impactful campaigns,” said Stephanie Gaines, Vice President of Corporate Marketing at YuMe. “This study reinforces the vital importance of highly focused audience building and segmentation, leveraging key behavioral and psychographic insights that drive engagement and can be the difference between a highly successful or lackluster campaign.

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Examining the Millennial Mindset and Marketing

opinionThe following is a guest contributed post from Scott Edidin, Vice President of Sales at Logomark.

Were you born between 1980 and 2000? If so, you’re an important part of Generation Y, or what is more commonly referred to as the millennial generation. Did you know that millennials are considered the most prominent generation in the history of the world? It’s a fact! And guess what? Marketers are becoming more aware of the untraditional way in which millennials are best reached.

Since research demonstrates that millennials will collectively spend approximately $ 10 trillion over the course of their lifetime, marketers must create distinctive campaigns that capture their attention and reel them in. To follow are some useful tips to help you better reach millennials with your marketing campaigns.

  1. Genuineness Empowers Millennials. Generation Y spends the equivalent of one full day online each week. But what are they doing? They are sifting through content-driven media. They’re browsing the Internet searching for websites, blogs and social media platforms because they are empowered by all of the fascinating content they’re discovering which they deem to be authentic. For businesses to be trustworthy they must be transparent. Without transparency, millennials will not trust your business or your brand. In short, you have to show millennials that you truly care about your product or service, and that it is truly beneficial and practical. Proving you’re concerned with providing something of value and making society better, or for that matter, the world, as opposed to making quick money is what millennials respect most.
  1. Retain Your Ingenuity and Relevance. Your business must be able to possess the wherewithal to create the impression that each millennial is special and that your product or service was geared towards them as opposed to a profit. It also helps to add value to the millennial experience with regards to your brand through such important items like loyalty rewards, recognition events, as well as special access to sales and other promotional events geared towards the millennial mindset. It’s no surprise that millennials love convenience, and creating a campaign that is innovative, unique in design, user-friendly and easy on the wallets is the embodiment of the millennial mindset.
  1. Change Your Marketing Approach. In order to reach the millennial, you’re going to have to change your marketing approach from outbound to inbound. Again, millennials are not impressed nor do they pay heed to banner ads, direct mail or even radio advertisements. They believe these approaches are mere ways to profit from them (which is true) and therefore are skeptical. Therefore, your brand should instead place an emphasis on shaping partnerships with online influencers that millennials already trust, such as highly popular bloggers/vloggers, podcasters, YouTube personalities, as well as Pinterest aficionados and Instagrammers. This is because millennials are geared towards being profoundly predisposed to the thoughts and sentiments of their peers as well as people they follow on various social media platforms. And most of all, keep in mind that millennials rely on word-of-mouth suggestions rather than conventional outbound marketing.

Millennials are geared towards genuine, content-driven, candid experiences that accommodate who they are as a generation and the voice they desire to share with others. Therefore, it’s imperative to keep that in mind when a business goes about creating a campaign to reel in this new majority. Not only should you be creative with your campaigns, but you should offer millennials practical products and services and furthermore connect with them at their level in order to successfully win them over and generate brand loyalty.

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New Research Reveals to Retailers What Millennial Consumers are Thinking

Cue Connect recently shared with MMW the results from its latest research, Consumer Moments of Truth, which provides retailers with a glimpse into the “inner most workings of the millennial shopper’s minds.”

According to the data presented, Millennials now represent over 80 million shoppers, with a current shopping habit of almost $ 600 billion and an estimated growth to over $ 1.4 trillion by 2020 (according to Accenture).

“With this survey,” Cue Connect says, “the research provides deep insight into, and understanding of, what’s really going on in the minds of the fastest growing category of shoppers the world has ever seen, or what we’re calling ‘the truth.’ The result? Surprising at times.”

Cue Connect has identified the top five millennial shopping personas and the expectations and behaviors associated with each. What motivates them at point of purchase? How do you create brand loyalty with each persona? What tools are currently missing in the e-commerce space that can help retailers win their share of the $ 1.4 trillion pot that’s up for grabs?

“Retailers who want to win big are going to be forced to approach their brand from a place of empathy. Tying the consumer experience to emotion is to millennials what direct mail was to baby boomers. Millennials have to feel understood and are insatiable when it comes to immediacy for more personalized touchpoints and better service,” said Berkley Bowen, CEO of Cue Connect. “This research tells us that ‘surprise and delight’ is imperative. These insights will help retailers better understand, and therefore engage with, their most important – and arguably, smartest – shoppers today: millennials.”

Want to know more? Check out the visual below.


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Former Nexage CEO joins Millennial Media as COO

Former Nexage CEO joins Millennial Media as COOMillennial Media, a leading independent mobile ad company, has announced that former Nexage CEO and President Ernie Cormier will be joining the company as COO. He will report to CEO and President Michael Barrett and will be responsible for overseeing the company’s product, technology, and operating teams.

Cormier has over two decades of experience and prior to his role of COO to Nexage he served as CEO & President of Zeemote Inc., held executive positions at Virgin Media in the U.K., Nexel Communications, and Lagardere Group. Following the Company’s acquisition of Nexage in 2014, Cormier served on Millennial Media’s Board of Directors. Cormier will be based in Boston and begin the role of COO in June.

“Ernie’s experience developing and scaling Nexage into the industry’s leading programmatic marketplace will be vital in solidifying this foundation and continuing Millennial Media’s growth and superior product offerings. I’m honored to welcome him to the team.” Says Barrett.

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In Millennial World, Social Shares More Influential in Purchasing Decisions

In Millennial World Social Shares More Influential in Purchasing Decisions 300x199 In Millennial World, Social Shares More Influential in Purchasing DecisionsMillennials aren’t shy about promoting what they like.

According to a June 2014 study by ShareThis, 25% of US millennial internet users shared digital content via social, with an average four shares per week—3.6 times and 2.1 times more than the total online population, respectively.

In a word, when Millennials see interesting content, they itch to broadcast it via social networks in numbers greater than other demographics.

Where to share?

Millennials like Facebook, the group’s primary social channel for sharing (55 percent). But Millennials — among the most savvy surfers, were more likely than total internet users to post on additional platforms. For example, Twitter and Pinterest each grabbed 10 percent of content shares by Millennials (that compares to 7 percent for Twitter and 5 percent for Pinterest among total web users).

“Shares by Millennials do more than take up space on friends’ feeds—they influence purchases, too,” contends eMarketer. “ShareThis reported that millennials were more likely than older generations to make a purchase based on content shared by one of their peers on social. Two-thirds of 18- to 34-year-olds were at least somewhat likely to do so, compared with 53 percent of those ages 35 to 44.”

But, take note: social commentary and personal recommendations are growing influential among all age groups when it comes to purchasing and consumption decisions.

“However, just because social influences purchases doesn’t mean those transactions take place online,” eMarketer concludes. “In fact, CivicScience found that those influenced most by social media chatter were most likely to make the majority of their purchases in-store. Fully 23 percent split their buys between the physical and digital worlds, while the same percentage were almost completely online-only.”

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