How Millennial Video Habits Will Change the Future of Buying

How Millennial Video Habits Will Change the Future of Buying

What can marketers learn from our current behavior? A promising place to start is with our consumption of digital video content. According to a study by UPS and comScore, millennials now make 54 percent of their purchases online. Buyers (especially gadget-loving millennials) are using multiple devices to complete a purchasing decision. Another source says that universally, 90 percent of people use multiple devices for purchase-related activities. Omnichannel Video Marketing Is a Must The State of Inbound 2017 also noted that most marketers believe having a website and blog no longer is enough to attract buyer attention. Bravo, marketers! Sixty-two percent of millennials expect a brand to engage them on social media networks. The bottom line is this: You may not agree with my generation, but make no mistake—we have everything to do with the future of your brand. Video Is The Future of Content Marketing The Six Stages of the Consumer Buying Process... 3 Reasons Why Content Marketing Was Made for... 8 Things Millennials Fall For Engage Your Audience with Video Marketing...

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As perplexing as millennials might be to other generations, the fact remains that the world should criticize less and observe more. Millennials don’t just hold the key to the future. We are the future.

Fact: Millennials represent $2.45 trillion in spending power. By 2020, millennials will make up 50 percent of the global workforce. By 2030, millennials will outnumber non-millennials by a whopping 22 million people.

In other words, my generation is the generation to watch. We represent the majority of the workforce and consumerism. We command how products are bought and sold. What can marketers learn from our current behavior? A promising place to start is with our consumption of digital video content.

Millennials spend 48 percent more time watching video online than the average internet user, according to HubSpot.

Seventy-six percent of us follow a company or brand on YouTube. And 60 percent of us watch company videos over reading a newsletter. The State of Inbound 2017 agrees — video is shaking things up for sales and marketing. Here’s what your organization can glean about the future of buying based on current millennial video habits.

1. The Millennial Buyer’s Journey is Largely Online

eMarketer predicts that digital video advertising will grow at an annual double-digit pace that exceeds TV advertising growth through 2020. And Business Insider predicts that social video ad spend will double in 2017. Marketers are putting their budgets where the business is, and all stats point to online buying.

According to a study by UPS and comScore, millennials now make 54 percent of their purchases online. As a result of this move to online buying, we’re seeing a frenzy of storefront closings by major brands like JCPenney, Macy’s, The Limited, Gander Mountain and Sears.

2. Video Content Is Challenging Sales Reps

The State of Inbound 2017 acknowledges the seismic shift happening in the sales profession. As you might have guessed, this shift is a direct reaction to significant changes in buyer behavior. Consumers (namely millennials) are more independent and less apt to rely on a salesperson…

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