Millennial Round-up: SEPTEMBER
Since SXSW, spot strat has taken a special interest in millennials due to their large role shaping our current and future culture, as well as, the interesting an unique ways they interact with each other and the world [and the fact that spot strat is made up of millennials].
Here are the top stories on millennials from September:
“Millennials grew up being advertised at, so of course they’ll be harder to reach if one’s definition of reach is conversion rate,” says Kurt Abrahamson, chief executive (CEO) of ShareThis. “As we’ve found, sharing and social conversations are better overall indicators of purchase intent than ad impressions.”
So what do Millennials share most? A large variety of subjects, but politics and government (47 percent) and family and parenting (38 percent) are the main focuses, according to the report.
Abrahamson believes this digital profile presents an opportunity for brands that are looking to deeply engage with Millennials.
Millennials have become one of the largest projection screens in our culture. They are consistently characterized as the group most affected by our society’s collectively shortened attention spans. The popularity of social media among millennials—and the comfort with which they use it—has conditioned many communicators to think that the best way to engage with them is through short, catchy, Web-based messages.
A new study from the Pew Research Center debunks this portrayal of millennials on two important counts.
According to the study, 67% of respondents ages 16 to 29 read a book at least once a week, considerably more than the 58% of adults ages 30 and older who do so. Likewise, 43% of the younger group reads a book daily or almost daily, compared with 40% of the older group.
As for the characterization of the Internet-obsessed millennial, the study finds that 62% of Americans under age 30 agree there is “a lot of useful, important information that is not available on the Internet.” Only 53% of older Americans agree with that statement. What’s more, library usage among millennials is similar to older generations, with 50% of those ages 16 to 29 saying that they’ve used a library in the past year.
84% of millennials — and this is consistent all around the world — would rather make a difference than achieve recognition in work.
Millennials want to work for purposeful organizations and companies, he added. But with 1.8 billion millennials in the world, it’s a difficult task to achieve scale in sustainability.
Much of the onus falls on big brands and technology companies, many of which are already incorporating sustainability into their business models (Dunne cites Unilever as an example). More businesses need to do this, and it makes sense economically, too, in order to cater to this demographic’s demand (and their money).
Of the older half of millennials (those aged 25 to 34) over 22 million already have kids. Each day roughly 10,000 millennial moms give birth. Our new research reveals that parenthood is driving a more pragmatic, conservative outlook—and it’s dramatically changing how millennials buy, behave and believe.
If we want to reinvent the American Dream for the 21st century and maintain prosperity in the broadest sense, we need to consider what smart investments are necessary. Will we continue to place our faith in corporations, or will we ensure cities, the places where Americans want to live, work, and play can provide citizens with necessary amenities?