Beyond Millennials: Meet the 38 Million People Who Are Really Changing the World
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For years, both publishers and marketers have targeted audiences based on demographics. A new research report, co-produced by Insider Inc. and Digitas, rethinks this traditional approach. Learn how Insider Inc. has refocused attention away from Millennials and uncovered a more action-minded segment who are truly driving engagement and disruption: The Transformists. PRESENTER Jennifer Tonti, Director of Research, Insider, Inc.
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Beyond Millennials: Meet the 38 Million People Who Are Really Changing the World
- 1. 1 Insert image Beyond Millennials: Meet the 38 Million People Who Are Really Changing the World Jennifer Tonti Director of Research
- 2. 2
- 3. 3 28M+ learn how to make smarter investment decisions 500K likes, comments, shares 4M+ get their arms around the iPhone X 37M+ indulge their cheese cravings We helped….
- 4. 4
- 5. 5 But…who is our audience, exactly?
- 6. 6 We are living in the most intelligent marketing era in history. Marketers continue to focus on an ambiguous, hard-to-pinpoint, overhyped group. And yet…
- 7. 7 “This is not a target – it’s a family reunion.” – David Cohen, CEO Magna
- 8. 8 Insert image It’s time to bust the Myth of the Millennial • 80 million + • Born between 1981 and 1996 (ages 22 to 37 in 2018) Too large and varied a cohort to effectively target
- 9. 9
- 10. 10 Avocado toast eaterSelf-absorbed Brand apathetic Ethically-minded Entrepreneurial Digital-forward Growing spending power Influential Social media expert Job-hopper Broke
- 11. 11 We set out on a journey… To locate and understand a more meaningful target—one based around mindset—and not a demographic
- 12. 12 Here’s how we did it: Qualitative phase • Mini-groups • In-Home ethnographies Quantitativ e survey • 1,600 US digital-forward news & information seekers, age 18-54 • Factor analysis segmentation
- 13. 13 Insert image 13 Meet the Transformists 38M people united by a mindset •Majority Millennial, but reach Gen Xers and even Boomers •Shaped by our rapidly-evolving digital world •Passionate, ambitious, and restless •See themselves as change agents
- 14. 14 Voracious Learners • Read 2-3X more info sources • 2X more likely to take a class • Consult a variety of sources before making up their mind “I try to gather as much information as possible. If I read other people’s reviews, I can formulate my own opinion.” (as compared to non-Transformists)
- 15. 15 Deliberate Doers • 2x more likely to act on the content they consume—sharing it, making decisions, applying it to their everyday life • 4X more likely to agree “I generally apply the information I learn to the way I live” “I figure out what it is I want to do, I research, and then I put those plans and steps into motion.”
- 16. 16 Unapologetically Ambitious and Adventurous• 60% strongly agree “I am always striving to advance my career” • 94% “I am more curious than most people” • 97% “I like trying new and different experiences” • 95% “I like trying new brands” “Travel is important to who I am as well – it’s shaped my experiences, it’s shaped who I am”
- 17. 17 Inspirational Idealists • 2X more likely to volunteer, donate recycle • 9 in 10 expect companies to conduct business in an ethical manner • 61% agree “I am more likely to buy a product if part of the proceeds goes to a cause I care about” “When I hear about a brand that does good in the community, I’m more likely to support them.”
- 18. 18 Brand Loyal – With an Asterisk • 1 in 2 strongly agree “When I find a brand I like, I stick to it” • 54% agree “If a product is made by a company I trust, I’ll buy it even if it is slightly more expensive” “For me, brand loyalty depends a lot on experience. If I've had good experiences with companies, I stay loyal to them.”
- 19. 19 As Influential as Influenced • More likely to buy a product if: o A friend recommends o Read an article or see an ad in a favorite info source • “People usually ask my opinion about new products/devices/services” “I have [travel] influencers that I like to follow, so if they post something, I'll do my own research to figure out if I want to pursue that.”
- 20. 20 • Higher income, more diverse • Fly-over states as well as coastal • Represent political spectrum • Have more, diverse interests • Adventurous, yet deliberate planners • Opinionated • Live life intentionally • More mobile & social • Podcast subscribers • TV program streamers, but not cord-cutters Transformists stand out…
- 21. 21 Insert image Why do Transformists matter? • Read & Research • Go / Do / Buy • Influence 38M people who...
- 22. 22 • Hyper-digital (mobile, social) • Offer a quality content that will inform and inspire them Transformists are… Publishers should… • Relentlessly ambitious • Researchers & influencers • Curious and open to taking risks • As demanding of everyone as they are of themselves • Demonstrate that your values align with theirs • Be everywhere where they are • Find smart ways to help them achieve their goals • Indulge them in adventure, discovery and wonder
- 23. 23 Thank you 23 Jennifer Tonti Director of Research 917.494.2915 ● jtonti@insider-inc.com
- 24. 24 Methodology Deep-Dive FACTOR ANALYSIS among info seekers uncovered a natural clustering of attitudinals creating three factor groupings GEN POP (Approx 156 Million 18-54s) INFO-SEEKERS (seek out info 1+x/wk = 83% of 18-54 US Pop = 129 Million) Success-Driven Values Achievement oriented and determination for career advancement. Intellectual & Physical Adventurism Curious, up-to-date, outgoing, , risk-takers, active, adventurous go-to influence on others. Ethical Consideration Others-focused, expect the best from self and others, striving for self-improvement, loyal, informed. 3 KEY FACTORS A cluster analysis using the three Factors and our measure of information-action behaviors revealed the Transformists + TAKING ACTION ON INFORMATION Factor Analysis of a nationally representative quantitative sample of over 1,500 people, with a focus on information-seeking {seek out information/content across a detailed list of topics weekly +} consumers, revealed three naturally-occurring factors that – along with a measure of propensity to take action on content – defined a distinct audience 38 million strong.
- 25. 25 24% core change agents 18-54 Gen Pop Total 83% Info seekers 38M “Transformists”
Editor's Notes
- My name is Jennifer Tonti, Director of Research for Insider Inc.
- VO For those not familiar, Insider Inc. is a parent brand launched January 2018. Will act as an umbrella brand (think Vox, Discovery) for our current collection of media properties Some of which you know (BI) or new (INSIDER, 2 yo) Insider Inc. umbrella represents the consistent approach to storytelling that has become our hallmark Even though our brands may be distinct, they ALL share an editorial voice and an audience of smart people who are ambitious, curious, and energized by the rapidly transforming digital world around us
- VO We know this not only because content they’re reading and watching, but how they’re acting on the information they’re consuming Insider Inc. umbrella represents the consistent approach to storytelling that has become our hallmark We have content that fuels passions and inspires action among Transformists
- VO: We know how we capture this audience’s attention Our editors, producers, and writers know what our audience wants because we are them We cover topics that our readers love by telling stories that inform and inspire them in fast, fun, interesting ways We focus on understanding what matters most to our audience, then we chase down the most interesting and impactful information about those topics
- VO Even thought we have an enormously engaged readership, we still didn’t understand who they were at a deeper level I came on last October, and with any new position, job #1 understand our audience at a deeper level than what third or even first party research was telling us Which was: BI more male, a little older; INSIDER female, a little younger Basically, across all properties: Millennials, who are defined as A22-37
- VO Where an abundance of data can help us target audiences Where technology has allowed us to zero in on them
- VO http://bit.ly/2s7fExx (Magna CEO’s quote on A18-49) Insane to target just on an age and expect that to be effective At the same time, we’re hearing from marketers (Ad Perceptions) want to focus on Millennials -- an ambiguous, hard-to-pinpoint, overhyped group PROMPT: Who here is hearing this from their client and brand partners?
- VO Attributing the success of our content to an audience defined purely by age didn’t add up In no way are 83M people all looking and acting the same Different life stages PROMPT: who’s a Millennial, then ask who just graduated from college, who just bought a house
- VO BTW: This is just a smattering of headlines just in the past month
- VO When marketers and publishers alike talk about this group, they’re conflating characteristics that are more appropriate for a mindset, and aren’t necessarily indicative of an entire demographic Positive misconceptions are just as dangerous as the negatives Because they grew up in digital era, assume they’re comfortable finding and engaging with brands anywhere; BUT not all Millennials engage with brands BIGGEST MISCONCEPTION that they are all Influential change agents of culture We want to focus in on the attributes that are most actionable, and find the target that embodies those
- VO Consensus in the market: My counterpart at Buzzfeed, Ed Wong, recently did a study on readers and adulthood—different subject, same takeaway: “we need to pivot away from demographics to understand current mindsets & behaviors” Our focus IS NOT on pursuing yet another demographically-led, Millennial-focused study that keeps us rooted in the status quo and not in alignment with making progress Our focus IS on pursuing our understanding of the most influential and action-oriented audience in generations – who are driving transformation through their work, purchases, behaviors, ideas, conversations and much more Had a hypothesis – academic exercise to prove the target exists
- VO In partnership with Digitas, because they wanted as much as we did to understand today’s consumer We conducted a robust research project talking to a nationally-representative sample of digital-forward information seekers Two phases give us a 360 degree view of the cohort (segmentation) + sizing Not completely self-serving, but with hope will describe a percentage of our readership [Why A18-54] Knew that they were potentially older than strict definition of Millennials but not likely to stretch much more into post-Boomer; and wanted digital-forward info seekers because will be investigating that behavior closely. Questions about methodology: factor analysis segmentation (send them to Jennifer Tonti)
- VO Lean into technology as a tool to help them transform information into action to make their lives better Constantly seeking for ways to improve their career, their personal lives and the world around them Their relentless self-motivation drives their behaviors And because their defining qualities are evergreen, these consumers have always existed and will continue to get bigger Technology has made it easier for us to find them; tech has made them more effective and efficient at reaching their goals
- VO HERE ARE SIX OVERARCHING CHARACTERISTICS Natural triangulators, verifier and fact-checkers, Transformists constantly seek out information on multiple sources across many topics to formulate their own point of view Everything from articles to the best places to eat when they’re traveling, or the most off-the-beaten-path locations
- VO There is an expectation that with all the media choices out there, consumers today are unfocused But Transformists are laser-focused. They set goals and look for people, brands, etc. that can help them achieve them Manage their finances, be a better parent
- VO They are constantly, restlessly seeking ways to improve their career and their understanding of the world And they’re always up for an adventure, and sometimes that includes trying new places, or even new brands That’s in part because they’re constantly innovating, iterating and improving on themselves and the world around them
- VO NOT THE ME GENERATION, but focused on betterment of the world around them Transformists are more likely to donate to causes and volunteer, ride a bike rather than drive, or bring reusable bags to the grocery store They’re optimists who believe that they can change the world for the better, and they also demand good citizenship from the brands they choose More likely to care about products and companies that are value-driven and have a strong mission
- VO They live by their values—and brands that speak to them can benefit strongly from their loyalty Transformists also require a lot of information from brands before they’re willing to risk an investment However, they expect that brands deliver on their promises
- VO Constant triangulation means they’re looking to every source for input; this includes people They’re also likely to be doling out recommendations to their friends & family because they are so in-the-know BEWARE: because of their influencer status they are extra selective about the brands they align themselves with
- VO We all know this person REMEMBER: age wasn’t the driver, it was their mindset PROMPT How many of you are Transformists?
- VO This is a group of people who don’t need their hands held They’re self-motivated information seekers who are using information to propel them forward in life and influence the world around them In broadly studying news and information consumers and their needs, rather than an age, found a cohort is ultimately more powerful This is how we’ll talk to brand partners, but understand how to create content that speaks to our readership And icing on the cake is that we have a lot of them