With the sophistication of technology and media outlets, our want for control, demand, diversity and simply, our ability to do what we like when we like has clearly increased exponentially. It’s amongst the many reasons that have made the internet and online world such an alluring destination. It has become a growingly powerful untraditional location for all traditional media. An environment that the Millennials can most certainly resonate with.
The internet has undoubtedly provided something that can’t be compared to anything else available. It’s use can resemble the same sentiment. And once you consider the fact that 93% of those aged 12-29 go online, you begin to unfold the abundant potential the online world has to offer. A potential no advertiser or marketer can afford to avoid or not understand.
As the years have gone by, I don’t think there’s a doubt in anyone’s mind that advertising would have increased online. Not only is it poised to grow immensely within the coming years, between social media, online video, live streaming, sharing, tweeting and connecting, the ability to reach anybody has become absolutely priceless. But it’s hardly as straightforward and unproblematic as it appears to be.
Online advertising has taken on the very mediocre role that we’ve always understood traditional advertising to be. It really hasn’t changed from what we’ve seen on TV or in print. And other than a few success stories, there really isn’t that much glamour in what we currently see. Not only is this a lacklustre attempt to advertise, it’s the reason why online advertising dollars don’t nearly bring the dollar ratio traditional outlets do.
The reality is traditional advertising can’t function in the same manner online. With numbers increasing dramatically in the online video space for Millennials, there is a clear indication that their toleration and threshold levels are cause for concern for advertisers. Of those aged 18-24, 6 minutes of advertising seems to be the appropriate threshold level for an hour of online TV video. Interestingly, this is 50% more than all audiences currently view in online advertising per one hour of online TV video.
For all you wide-eyed opportunists, although these numbers seem inviting, they should be taken conservatively. Ad sensitivity varies drastically within this group. On one hand, 20% of 18-24 year-olds believe 10 minutes of online advertising is still “minimal” however on the other hand over 80% believe 10 minutes is “long enough”.
Though those numbers represent the online TV viewing demographic, something the Millennials highly represent, the thought process can be applied to ad sensitivity across all online mediums. The reality is Millennials have varying toleration and diverse threshold levels when it comes to online advertising.
Equally, there are few who are reinventing advertising with everything that is available. You have to advertise through social media in the spirit of social media not in the spirit of advertising. And the same can be said for many other areas.
Interruptive and intrusive are closed immediately. If I’ve gone to your website, I came there for the content not for the advertising. And if I have to choice but to view it, I’ll do something else in the meantime. Online ads are so easily circumvented. You have to understand that the Millennial are never simply doing one thing at a time. So why do you continue to advertise to us as if we do one thing at a time?
The reality is that although there is room for online ad growth, which will continue to grow, the Millennials don’t easily mix with it. There are so many online alternatives and so much happening at the same moment that Millennials can simply disregard everything you throw at them. This is not TV. We don’t have to wait to see what happens after the commercial. This isn’t a magazine where we have to flip through the pages to get to the story we want to read.
Is blanket advertising easier? Of course it is. Unfortunately understanding the online world isn’t as simple to dissect and comprehend. Traditional advertising revolves around the premise that most of us do and act in a particular manner, something of which is not the case in the online world. There are so many more factors involved than merely staring at the screen, since we’re probably staring at our smart phone screen just as often.
Simply ask any Millennial what they do online. After they tell you, you’ll see why it’s easier to simply advertise to “everyone”. Anything more specific will take extra effort. You’re all already spending more on online advertising than you really should be. And you all know those same advertising dollars don’t bring in the same returns from years past. So forget about traditional. Think Millennial. You won’t be able to afford to do it otherwise.
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Nice one Josip.
It is refreshing to see a GenY guy with such an understanding of the fundamental differences between behavioural patterns of different generations, and I like the amount of research you have done to validate your point.
One of the major differences I see, especially on Twitter, is the difference in the use of language. I have been in many #chats, some dealing with manners and etiquette and entitlement, and we seem to get caught up in what's 'politically correct' and what's 'appropriate' amongst our peers.
Yet there are huge swathes of tweeters who are not phased by language or appropriate etiquette, and they don't care whether you approve or not, - hey, if you don't like what you read unfollow me already!
Just as your post points out, everyone can now choose to connect or disconnect at the click of a mouse button.
My question is this.
If I want to connect with GenYs, the ones that are irreverant, the 'bad boyz' the ones using Social Media in a very different way than I do, but are a very powerful and large market for one of my products, how do I connect with them? How do I market to them without shocking the rest of my followers and clients? Should I be creating a separate brand image with separate new media accounts?
I look forward to your thoughts, and thanks again for the article.
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