Typically, millennials are highly individualistic and dissatisfied with vagueness of information, something that almost never concerned previous generations. The millennials want to experiment with new story formats, form factors and payments mechanisms. In short, they want to stir the hornet’s nest and make it work to their own advantage.
Millennials see technology as a window to the world; real and virtual isn’t much different, as for them the process of communication, for most part, is carried out through technology. Everything nowadays is shared and liked and commented upon, from their most private feelings to their day-to-day encounters. They have long established a sense of comfort and collectiveness when it comes to the digital world—especially social media. Millennials are extremely individualistic, tech savvy and quick to adopt new technology trends. They are the first generation to have grown up online, and mobile device has become their favorite channel for online viewing.
According to TNS Global, millennials in the APAC region are spending the equivalent of almost a day on social media. In Africa, as well as Latin America, millennials are cutting the cord to their TV, and using social media for all their information. Often screens overlap, as multi-screen behavior is in, with 57 per cent of millennials stating that they are consuming content on their smartphones while they are watching TV.
Social networking applications, gaming, instant messaging, banking/finance, education and health and fitness applications are very popular in Africa. In Latin America, millennials prefer Snapchat and Spotify in particular, with Facebook also high in popularity.
Their virtue as consumers makes them difficult to market to and hence, marketers have realized the importance of staying relevant to this segment. This is, simply put, as millennials count for majority of their consumers. This generation is highly aware and cautious when it comes to purchasing anything online, and why not? They know they can access a wide range of options and they are capable of grasping when someone’s just trying to sell them something. However, their presence on a variety of digital media provides marketers to get them engaged through innumerable ways, offering marketers a plethora of opportunities.
They want to be included, they want to participate and connect, be heard and responded to. They seek authenticity and an exchange of value, that too, on their terms. Millennials’ yearning for social connectedness is based on good storytelling. But, in today’s context, content has to be hyper local, delivered on the user’s mobile at the time and place of their choosing.
It is not enough to tell any story.