Millenials and Media Consumption

TM MARCH 2008 PRINT IS DEAD MILLENIALS & MEDIA CONSUMPTION S T R A T E G Y. D E S I G N .

PRINT IS DEAD | .01 PRINT IS DEAD. WELL, KIND OF. Millenials. Generation Y. Call them what you like. Depending on how you slice it, they’re seen to be the second largest demographic group after Baby Boomer’s. Today’s marketers are trying a lot of new approaches to build relationships with them. From traditional media to blogs, podcasts and Facebook Flyers, brands are experimenting with new approaches, new environments, new messaging, new products and new services. But, what’s really working? While there’s been a wide array of research, pundits, articles and conjectures, what conclusions can we really draw from what’s out there?

PRINT IS DEAD | .02 HOW ARE THEY USING MEDIA? IT’S THE INTERNET, MAN. On the whole, young people use the Internet more than their older counterparts. They use it for education, entertainment, staying in touch, and for news and information. In fact, 33% of young people use the Internet more than any other form of media—spending over 10 hours per week online.1 BUT, DON’T TOUCH THAT DIAL JUST YET. Traditional media is most certainly not dead. Numerous studies point to increased consumption of magazines plus higher levels of confidence and influence with traditional media sources. Adults aged 19-24 actually read more magazine titles than the population at-large.2 Teenagers and young adults aged 13-24 still pay more attention to TV and magazine advertising and rate them as the most influential forms of media. 58% of those aged 18-24 use magazines to keep pace of what’s cool and hip.3 1 Based on an online survey with 439 college students aged 18-24 conducted by Burst Media in July 2007. 2 Based on data from 8,400 respondents in a Readership.com study sponsored by McPheters & Co in summer 2006. Consumers aged 19-24 averaged 18.3 magazine titles read over a 6 month period, while the general population averaged 17.0. 3 Based on two research studies – a 3/07 research study funded by Viacom and conducted by Open Mind Research and OTX Research with 1,000+ kids aged 13-19 conducted online, via cell phone, and through focus groups; and the Deloitte & Touche, “State of the Media Democracy” conducted by Harris Group 2/23/07 – 3/6/07.

PRINT IS DEAD | .03 WOM STILL TRUMPS TXT AND IM THEY STILL TALK TO EACHOTHER. Word-of-mouth marketing (WOM) is still one of the most powerful ways to connect your brand to a large audience. And, despite what cell phone advertisers might have you think, young people do actually speak to one another. In fact, 63% of conversations teenagers have about products and services occur face-to- face while only 19% occur online (text messaging, IM, email, chatrooms, blogs).4 BUT, WHAT ABOUT THE MESSAGE? Regardless of where they’re getting information, young people are savvy users of media. They know when they’re being marketed to, and they know when a brand’s authentic or when it’s blowing smoke. More and more young people value creativity and style. They’re looking for brands that reflect this desire, and offer them the ability to customize a product to their lifestyle.5 3 By contrast, for the general population 73% of these conversations occur in-person and 7% occur online. Based on a survey of 2,046 teens aged 13-17 conducted by the Keller Fay Group January – May 2007. 4 Hein, Kenneth. “How to Reach Teens? It’s All About the Brand.” BrandWeek. June 18, 2007.

PRINT IS DEAD | .04 SO, WHAT DOES IT ALL MEAN? Integrated media is still the best approach for communicating with just about any audience. But, that doesn’t mean you shouldn’t adapt your strategy to fit your target. Most young people today are consuming media at some level in all its forms, and most can’t even comprehend a world without the Internet. Remember, a 16-year old today was only 5 when the Internet first penetrated almost every American household.6 It’s not new media or online media to them, it’s all just media. If you’re targeting young people don’t be afraid to try new things. Invest in blogs, podcasts, online sponsorship, paid search, Facebook Flyers. But, don’t think you have it all figured out. Today’s Facebook could be tomorrow’s Pets.com. Maintain an integrated mix of traditional media. Television and print are primary influencers of young people and will continue to be for at least 10-15 years to come. 6 Goodnow, Cecelia. “’Millenials’ thrive on choice, instant results.” Seattle Post-Intelligencer, March 12, 2007.

PRINT IS DEAD | .05 SOURCES: ARTICLES Delaney, Kevin; Robert A. Guth and Vauhini Vara. “Microsoft Best On Facebook Stake And Web Ad Boom.” The Wall Street Journal Online. October 25, 2007. Goodnow, Cecelia. “’Millenials’ thrive on choice, instant results.” Seattle Post- Intelligencer. March 12, 2007. Hein, Kenneth. “How To Reach Teens? It’s All About the Brand.” Brandweek. June 18, 2007. Lukovitz, Karlene. “WOM: Teens Speak Another Language, Face Time Is Crucial.” MediaPost Publications. August 15, 2007. Mandese, Joe. “Research Reveals Young Adults Read More Magazines, Not Less.” MediaPost Publications. May 18, 2007. ONLINE RESOURCES Burst Media Corporation. “Looking to Reach College Students – Look Online.” Online Insights. July 2007. eMarketer. “Print and Digital Need Not Compete.” August 27, 2007. MarketingCharts.com. “Millennials Like Traditional – Not Just New – Media.” July 30, 2007. MarketingCharts.com. “Marketers Plan to Increase Social Media Spending, ROI Not Yet a Concern.” October 16, 2007.

WE ARE A STRATEGIC DESIGN FIRM. No, not that kind. We don’t work with blueprints, floral arrangements, industrial machinery or red-carpet gowns. For over 35 years, we’ve helped create brands and the communications materials that grow them. We take a brand and give it a personality; a voice; a visual language. WE MAKE BRANDS STAND OUT. 614.486.0286 WWW.MLICKI.COM ©2008, Mlicki, Inc. All Rights Reserved.

http://www.slideshare.net	21
http://storify.com	12

Millenials and Media Consumption

by Mlicki on Mar 14, 2010

Accessibility

Categories

Tags

Upload Details

Usage Rights

2 Embeds 33

Statistics

Millenials and Media Consumption — Presentation Transcript