Edelman (@EdelmanPR) Millennial consultancy (@Edelman8095) (#Edel8095) is the driver of 8095, a global benchmark study on how Millennials connect with brands, make purchasing decisions and share their opinions on products and companies with family, friends, and extended networks. The study, first conducted in 2010 and updated this year, focuses on people born between 1980 and 1995.
(Above graph is from MarketingCharts, @marketingcharts)
· Over 3/4 of millennial consumers worldwide want to be "entertained" by brands, and a similar proportion are willing to provide feedback on goods and services.
· About 80% want brands to "entertain" them, with co-creating products the most popular option, mentioned by 40%, ahead of receiving real-time answers to social media enquiries (33%).
· 32% want sponsoring events
· 31% desure companies to deliver engaging online content
· 21% would like to connect with other fans. Forming tie-ups with admired celebrities or public figures score 19%.
· More broadly, a 74% majority of respondents say they influence the purchase choices of peers and older buyers
· 63% regularly go shopping with their friends, partner, or family.
· For 73%, sharing feedback with companies after a good or bad experience is a "responsibility," peaking at 90% in China and India, but falling to 59% in Germany and 57% in Canada.
· When making purchase decisions, 94% of participants use at least 1 external information source and 40% use 4 or more, with search engines and word-of-mouth from friends and family the most common.
· When asked what wider assistance brands could be in their lives, 77% want financial assistance, such as grants and scholarships for studying.
· 75% desire opportunities for more "life experiences" like trips and lessons in interesting subjects, and 65% want a mentor to help guide them.
· 60% want to tap a brand's "audience," like its Facebook page or ads, to connect with similarly-minded people, and 56% say the same for sharing their views with a wide group.
In 2013, the oldest of the Millennials will turn 33 – many of them are now parents, have careers, and wield spending power and influence in today's world.
Contact Somersault (@smrsault) to help you understand and reach the Millennial market.
Learn about online marketing with SomersaultSocial.
Add our Facebook page (http://facebook.com/SomersaultGroup) & Twitter stream (http://twitter.com/smrsault) to your Flipboard account on your iPad, iPhone, or Android.
Get our blogposts delivered into your email inbox.
And be sure to bookmark and use daily the SomersaultNOW online dashboard; especially the Research tab.