It’s no secret that Generation Y loves media, and perhaps their favorite type of media is video. With the widespread success of video sharing platforms such as YouTube, and the growing popularity of video reviews online, video marketing is becoming an integral part of any marketing strategy.
Over the past two decades, technology has advanced farther than mankind may have ever expected it would. As a result, many companies are finding themselves in a position of advancement, with very little to guide them in the direction they need to go. This is mainly an issue when companies are trying to target the newest generation, as traditional advertising and marketing methods are largely ineffective in today’s modern times.
As a result, an increasing number of studies are showing that Generation Y is most interested in video marketing, and many business experts are saying that video marketing is becoming an absolute necessity to companies looking to appeal to the up-and-coming generation of adults.
One study showed that over 60% of millennials would prefer to watch a video from a company than read a newsletter advertising their newest products or changes. In addition, another study showed that half of millennials will read an email if it includes a video, however they will be less likely to read an email if it includes a link to the wall of text.
The statistics show that Generation Y is mostly interested in videos, rather than more traditional methods of marketing, such as featured posts in magazines or newsletters, or even older methods of email marketing.
Beyond these statistics, there has been a number of other studies which indicate that millennials are far more interested in video marketing than any other type of media:
- Experts say that millennials are three times as likely as baby boomers to watch videos on their smartphone or other mobile device, making them the target audience of video marketing.
- Experts also say that millennials are very likely to follow their favorite companies or brands on YouTube and other social media, showing that roughly three-quarters of millennials follow their favorite brands on YouTube, over 50% of millennials follow companies or brands on Twitter, and 84% of millennials follow their favorite brands on Facebook. Posting videos on the social media platforms can be one of the most effective ways to market to the up-and-coming generation of adults.
- Over 80% of millennials say that videos are helpful to them when doing initial research on purchasing a product, and three out of four millennials found that using video was helpful in comparison shopping between products. In addition, studies have shown that 70% of millennials are very likely to watch a company video when they are visiting that company’s website, which gives companies an excellent idea of how they can market their product on their own site.
With statistics like these, it’s very clear that video marketing is the way of the future, particularly for businesses looking to make their name in the Generation Y community. Companies can utilize video marketing by using demo videos, customer stories videos, and using fewer promotional tactics and more personal tactics in order to sell more products.