In a study identifying major celebrities popular among the youngsters (aged between 18 and 30) YouTube superstars topped the list. Millennials have been found flocking mostly to videos recently. These video sites are reaching more than any other networking media across people within the age group 18-35 (Source: Sprinklr.com). Every year the time spent on watching videos is growing by 60%, average video watching on mobile being higher than 40 minutes.
This provides a huge opportunity for advertisers to specifically design ads for videos targeting millennials. The advertisers on video channels like YouTube have grown higher than 40% and the big companies are trying to capture millennials on other video sites as well (Defy-sponsored survey in 2014). It is the time spent by millennials on YouTube and Google Video that has resulted on top brands (rankings by Interbrand) spending almost 60% more on these channels than they did a decade ago (around 2005).
Although site owners are not explicitly coming out with revenue figures, the available data indicates there is an explosion of demand for video advertisements. Advertisers have found millennials spending substantial time on these sites. Also, Google has said there is a huge growth in revenue from YouTube recently. The influx of advertisements has made many video sites turn their platforms more appealing for advertisers. They created a computing systems and dashboards where marketers can compare effectiveness of video ads with television advertising.
A recent survey on millennial women found the main influencing factors for their shopping decisions to be websites, social media and word of mouth. See figure below.
Source: AdWeek
Guided by the huge popularity of video networks, many renowned brands on television and the internet are coming up with new video channels. They are trying to cover topics that interest the age group of 18-49 mainly, some specifically catering to the audience looking for answers to questions continuously.
For brands trying to capture this vibrant and media-proactive group of millennials, video advertisements offer immense potential. Using a comprehensive campaign management solution, you can design your content and run it across the video networks to find maximum conversions happening within a short time. Make sure your products and your ads match the intellectual and emotional worlds of these millennials, and your job is almost accomplished.
