The millennial generation is currently the largest, and makes up the biggest portion of the U.S. labor force. They also find themselves the center of criticism for their “unique” work ethic and off-beat ways. Many companies don’t exactly know what matters most to individuals born in this era. Others simply refuse to accept that this generation is taking over in terms of consumerism, new talent, and leadership. From how businesses hire new employees and communicate with their workforce to how marketers advertise products and sellers close deals — all eyes should be on the millennials.
How to Spot a Millennial
Millennials aren’t just coffee house dwelling, converse wearing, headphone adorned hipsters. In fact, most millennials would be insulted by that buzzword. They are young adults born between 1980 and 2000. There’s about 92 million of them in the U.S. compared to 61 million Gen Xers. They even out-number the Baby Boomers by 15 million. It’s true, this generation grew up on video games, and possess a unique vantage in that — they know a world before the internet and smartphones, but have also embraced these technologies without reservation.
They are encumbered with debt (thanks to student loans) and live on tight budgets, which makes them dedicated workers and tough consumers. The financial status of this generation has also influenced some interesting social behaviors.
They value social impact over salary size
They demand work/life balance
They aren’t getting married until later in life or having large families
They advocate for brands they love and support local business
They possess a deep need for social connection
What Influences Have Millennials Contributed?
Despite what millennial mockers might say, this generation has inspired some incredible and positive changes in the way our society lives, works and interacts. They drove the explosion of social media which has virtually changed the way we communicate and experience the world around us. They embraced the cloud and mobile devices to make flex scheduling and remote employment a reality. They refuse to choose between careers and families, and instead — have conquered both. They created a new economy called “collaborative consumption” which focuses more on renting or borrowing goods instead of buying and owning them. More recently, millennials have made video a top priority in nearly every realm of life. From entertainment and education to marketing and internal communications — video is the preferred vehicle for the delivery of information, and this is inspiring foundational shifts in the way we teach, market, sell, and tell stories.
According to eMarketer, millennials are the most active video viewers of any U.S. age group.
There will be 78 million millennial digital video viewers in 2016, making up more than 92% of all U.S. millennial internet users.
6 in 10 millennials prefer to watch a company video over reading a company newsletter.
1 in 2 millennials will read a company email if it includes a video.
RECAP: Millennials are the generation currently in charge. They have everything to do with the existence and popularity of social networking. They value purpose and social impact, and they absolutely love video. Individually, these statements are interesting. But what’s even more remarkable is how these facts work together.
YouTube reports having a 100 percent increase in video consumption, year over year.
Native video on Twitter drives 2.5x more replies, 2.8x more retweets and 1.9x more favorites.
Clearly, social media and video are working hand in had to deliver some powerful messages.
Recently, a video editing software company named Magisto conducted a survey of 565 businesses to find out just how important social video marketing is. They uncovered three interesting findings:
9 out of 10 millennials at SMBs lead off in their marketing strategies with social media.
Millennials use video for social media marketing 2x more than older marketers.
Millennials are not investing in TV ads.
What we can gather from these findings is that millennials are actually practicing what they preach. They not only push social media and video in their careers, they also prefer to be connected with in this way as consumers.
How To Use This Information to Better Engage Millennials
Use social media
Instagram, Facebook, Twitter…these are the most popular networks among millennials that also offer value to marketers (Snapchat just isn't there yet marketing wise). They also attract the next big generation to hit the scene — Generation Z. Use these networks to authentically connect with millennials and post job listings, recruiting videos, advice, etc.
Be Flexible
Millennials are non-conventional and refuse to settle for anything less than a career that also supports their lifestyle. According to a survey by FlexJobs, 85 percent of millennials would prefer to telecommute full time. According to Inc., this type of work arrangement improves work morale, productivity, recruiting capabilities, and mental health.
Create a Community Within Your Organization
Millennials prefer to feel like they belong to something greater than their individual lives. Create a community vibe by incorporating strong values and a powerful mission statement into your business. Don’t just tell new hires how fun and exciting it is to work for your brand, show them with the power of video. Mission statement videos are compelling and will also resonate with millennial customers who want to purchase products and services from respectable organizations with a greater purpose or vocation.
Help, Don’t Sell
Use product videos to catch their attention. After watching a video, viewers are 64 percent more likely to buy a product online. But keep in mind: when you’re pitching a product or service, the worst thing you can do is hard sell a millennial. Take a more consultative approach to your sales conversation and genuinely try to fit the right solution with their wants or needs. Win the affection of a millennial and they’ll convert into brand loyalists easier than any other generation. You also increase your odds of being reviewed online or shared across social medias, which means huge potential for increased brand awareness.
See? The millennials aren’t such a tough crowd.
Be social and humanistic. Connect with them where they spend the most time, and use video to tell a good story. You’ll engage this unique generation in no time and promote a healthier work environment and greater brand loyalty in the process.
For more ideas on the different types of video you can share with millennials, brainstorm with this article about video marketing ideas, or this one about internal video communications ideas.
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