Insights to Create Videos that Live up to Millennial Spending Habits
As their generation is taking over the world now, their habits (and incomes) are also changing. Due to their constant search for thriving, inspiring brands, millennial shopping habits are clearly different from previous generations, so if you want a video strategy to succeed, here are a few insights to keep in mind.
Inspiring Video Content Sells
First and foremost, you need to create an inspiring video marketing strategy suitable for YouTube, Instagram, Twitter and/or Facebook. It must be simple yet effective to fit millennial shopping trends.
Think about your brand’s basics, its values and this generation’s relationship with your product. Use social media to tell a story about this relationship. Why? Millennials own first place in online purchases. They make 54% of purchases this way and 63% of them using their smartphones and most of them begin with social media ads.
Try different formats, such as:
- How-tos and tutorials
- Motion graphics
- Picture slideshows
- Expert reviews
Video Ads Influence Buying Decisions
Though this generation has its own financial challenges, such as student debts, joblessness, and low salaries, millennial shoppers spend $600 billion in the US each year.
On top of that, 90% of users say that product videos help them to decide whether or not to buy something; so here are a few quick-facts about millennial spending habits:
- They want to feel good about their purchases. 60% like purchases that express their personalities.
- They prefer to have great experiences (and pay more for them) than material things.
- They enjoy sharing their purchases on social media and buy what their peers recommend.
- They have no fear of trying new stuff and giving new brands a chance.
Video Has the Best ROI Compared to Other Content
According to Forbes, 2019 was expected to be the year when Internet video traffic from around the world would represent 80% of all consumer Internet traffic.
Furthermore, not only are millennials spending on themselves but they’re also calling the shots when it comes to shopping for their families. Recent statistics show that over 40% of American millennials are parents and they’re buying online.
This is the generation that works up to 18-hour days, uses hashtags like #ThankGodItsMonday and constantly blurs the line between their personal life and office hours.
Having said that, it’s no surprise that millennials are the generation that spends the most on travel.
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Positive Video Content Is Appealing for Millennials
Marketing for millennials has to focus on being different, witty, and, most of all, uplifting.
Based on a 2016 Nielsen report, ads with the best emotional response generated a 23% lift in sales volume compared with other ads for the same brand. Being that said, you should consider creating exciting videos for a millennial target.
Did you know they are, in fact, one of the most receptive generations to advertising, especially when using music, humor, and celebrities?
If you feel you’re not an expert in using professional video editing tools, try an online slideshow maker. There are plenty of options to quickly create and upload, many of them already supported by social media platforms like Facebook Creator Studio and YouTube Creators.
Focus on Being Real Enough
If you’re still hesitant about working on a brief but meaningful video strategy, let me point out another few reasons why you should be planning engaging video content.
- Millennials don’t like to wait, they’re practical and have little patience for inefficient services; therefore, they trust brands with an exceptional reputation that speaks the truth.
- How to achieve it? The best way is to create a 2-minute long video, shorter if possible. Try to mention what values that support your brand. Millennials are now looking for not only beautiful products but beautiful products that reflect values.
Stay Positive to Meet Their Mindset
- Millennials are probably the most positive and optimistic generation in America. According to a recent article by Bentley Research Findings, if a millennial thinks something will work in the end, the process doesn’t really matter and despite the ups and downs, remain inexplicably positive.
- How to be as optimistic as them? This generation is highly influenced by social media to the shocking point that one in four millennials admit they care more about their bodies than their careers.
There’s a link between body image and marketing, and brands have demonstrated that body positivity and real beauty campaigns work well when done right.
Millennials are aware of media manipulation and are confident about making decisions for themselves, so if it’s relevant for your product, talk about body positivity.
Are you still doubtful about how to create a video? Here’s a brief guide:
Make Your Brand Traceable for Millennials
You already know millennials like to be inspired by positive, relatable content; consequently, your branding strategy should also include a thoughtful logo design that matches your brand’s personality and communicates well to them. If you don’t know how to design a logo, use one of many templates available.
Need another reason to work on a great logo? According to a recent study, millennials are buying logo pieces to wear because they want instantly recognizable branded products for their social media feed.
Are you a millennial or work surrounded by millennials? Do you have any other useful insights for creating video content for this generation? Please share your success stories!
Alina Midori Hernandez
Content Marketer at Placeit, journalist at heart and haiku writer. If her life was a movie, it’ll probably be a horror movie/chick-flick called I Didn’t Have Coffee This Morning or a book called The Beast Who Hibernated Inside a Hungry Girl.