It's no secret that Generation Y loves media; perhaps their favorite media type 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 humanity may have expected. As a result, many companies find themselves in a position of advancement, with very little to guide them in the direction they need. This is mainly an issue when companies are trying to target the newest generation, as traditional advertising and marketing methods are primarily ineffective today.
As a result, many studies show that Generation Y is most interested in video marketing. Many business experts are saying that video marketing is becoming an absolute necessity for 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 the millennials would read an email if it included a video. However, they will be less likely to read an email if it consists of a link to a wall of text.
The statistics show that Generation Y is primarily interested in videos rather than more traditional marketing methods, such as featured posts in magazines or newsletters or even older email marketing methods.
Beyond these statistics, there have been several other studies that indicate that millennials are far more interested in video marketing than any other type of media:
- Experts say millennials are three times as likely as baby boomers to watch videos on their smartphones or another 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 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 while visiting that company's website, which gives companies an excellent idea of how they can market their product on their site.
With statistics like these, it's evident 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 and customer stories videos and less promotional and personal tactics to sell more products.
