Millennials spend 48% more time watching videos than the average internet user, according to a study by Marketing Land. This fact has major implications when it comes to how marketers create strategies to reach the target audience and how companies try to promote and advertise their products using the internet and video production.
You cannot imagine the power that millennials have over the ability of marketers to promote a product these days. Every message and every blog content is optimized to make sure that millennials will react positively, that they will purchase the product. That’s the end goal—to make this generation support and consume your products and services.
Millennials do not only affect marketers. There’s a whole range of people whose jobs now depends on millennials and their many idiosyncrasies.
Sales representatives are one of the most affected people by this change in millennial behavior. The sales landscape has forever changed with the way millennials consume videos and how this behavior affects their decisions to purchase a product or subscribe to a service. It seems to us that sales representatives are having a difficult time tapping this generation because of the constantly changing behavior of consumption.
Though millennials have a purchasing power in billions of dollars, they are also picky with their choices and not all of them have the money to spend on things like food, clothes, mobile phones, etc.
Millennials like researching products and services using content like customer reviews, case studies, and videos. They want to know why they need the products and how these products can make their lives easier.
Studies have shown that 92% of millennials name visuals as the most important influencer in their purchasing decision and 67% of them believe they can find a YouTube video production about anything they need to know. Another study said that after watching a video production, millennials are 64% more likely to buy a product online.
These results suggest of a highly- intellectual and informed generation. You cannot hard sell to these millennials because even before delivering your pitch, they know what the product is about and what it can do.
They might even be able to make the pitch themselves. What your product needs to do is prove to this generation that they are a good value for money.
Marketers, sales representatives, advertisers, and business owners need to understand and embrace this power to tap into this very reach resource of consumers and make them into loyal customers.