The 75.3 Mn millennials in US account for a quarter of the entire US population, and they are responsible for the spend to have reached $1.3 Tn annually. They are constantly online, literally glued to their mobile screens. According to a survey, millennials spend about 18 hours a day online, on various devices at a time. This segment, also known as early adopters, influences a whole segment of the population; what they adopt today will become a trend in the coming times. This is probably why marketers are in for grabs to receive data for this segment.
Based on the way millennials are consuming internet, and their command & influence on the society, most advertisers are closely following their movements to understand their behavior. This is truly helpful to the digital advertisers, who are looking to attract the millennials.
Here, based on few annual Internet reports, we have listed out a few digital advertising trends that will help marketers pull in the millennials and influence a whole society.
Mobile Revenue is Exploding
Mobile revenue seems to have paced right ahead of desktop ad-revenue, which is currently very flat. While Internet ad revenue made a 20% increase from 2014 in 2015 with $60 Bn, mobile revenue saw a 66% growth and desktop revenue saw a mere 5% growth.
This segment is spending approximately 25% of their time on mobile, thus engaging 12% of the ad budgets. There is a whole $21 Bn of untapped potential that marketers seem to be overseeing. A lot of marketers are incorporating desktop campaigns, which accounts for 22% of the total internet time. It’s time for marketers to rethink advertising strategies.
Google & Facebook Control Digital Advertising
Facebook & Google are together influencing the digital advertising potential. There has been a 59% growth in Facebook ad revenue in 2015 over 2014. For the same period, the Google ad revenue grew by 18%. These two social networks seem to be ruling the roost for digital advertisers, and it’s time marketers take the two pretty seriously. Combined, Facebook and Google control 76% of digital advertising market.
Changing Ad Blocking Rules
92% of 3000 odd Internet Users who were surveyed to track the millennial data said they used ad blocker, while 62% said they were unhappy with the preroll ads. Many even went through the video ads on mute. It can be said that ads result in unhappy consumers.
Digital advertisers should look into the changed rules for ad blocking on mobile. Around 400Mn users globally tend to block ads on mobile, as compared to the 200 Mn users on desktop. You need to take a look at this figure and the way advertisers are moving around the ad blockers, to gain some rational from them.
Millennials Use Facebook
Many claim that Facebook is not that cool anymore. But, this is the only platform accessed most often by the millennials. Facebook seems to be granting maximum reach to the millennial consumers. Tumblr accounts for only 20% reach while Twitter reaches about 50% millennials on an average. But, the time spent by millennials on Twitter is pretty less. So, you can say Facebook still rules as far as your millennial consumer is concerned.
Future is Chat
Chat is the future for digital advertising. Android and iOS are coming up with their chatbots that will definitely attract the millennials, and boost the brand’s business further. You will need to incorporate the different messengers and chatbots in your strategy in order to win more consumers.
As a digital advertiser, you are definitely looking at millennials to help influence your target audience. Semaphore Software has years of expertise in offer digital marketing solutions that will build your brand in the Internet age. We are known to develop ideal strategies to boost your business, and gain more ROI. Connect with us at firstname.lastname@example.org for intelligent and strategic digital solutions.