ADA, the data and artificial intelligence company that designs and executes integrated digital, analytics, and marketing solutions, has produced a special report on a very important, and yet often misunderstood target audience – Millennials.
Many brands are fixated with targeting the Millennial crowd, but few see them beyond the stereotype of a young twenty-something who is carefree and single – a staggering 71% majority who are between 30-39 years old are actually parents with kids below seven. Here are some other fun facts about Millennials:
- There is a perception that many Millennials are university or college students, however, our data shows that 95% of them are actually working professionals.
- Naturally, Millennials use social apps frequently – but the ones between the ages of 20-29 have a much higher propensity to use social apps in comparison to those between the ages of 30-39.
- Millennials between the ages of 30 to 39 are 89% more likely to visit malls in comparison to the rest of the population – this is contrary to the popular assumption that it is the “younger” Millennials who spend their time shopping rather than working.
The truth is, Millennials were born between the years 1980-2000. So, those who are on the older spectrum of the cohort may have well-established careers, often are parents, and probably have a different set of interests and values than those at the younger end of the spectrum. That’s a simple example, and yet the possibilities are so much more.
Priorities and interests vary greatly for those between the ages of 20-29 and 30-39 years old, so how can brands learn more about their customers? Using the newly unveiled Consumer Insights Explorer (CIE), a groundbreaking machine learning engine, the CIE gives businesses the ability to make sense and draw insight from all the data points consumers create.
Built on XACT, our Data Management Platform (DMP), the audience-building tool combines online and offline data of over 375 million unique devices. CIE allows businesses to reflect on and learn from the minute digital footprints left behind and make sense of all that data.
How does this benefit businesses? Imagine you are an automotive brand looking to target millennials with your new model. You are about to run a YOLO campaign for gamers targeting those below 30. It’s a brilliant campaign urging millennials to seize the day and follow their dreams with the car of their dreams.
However, the data tells us that 44% of millennials under 30 have kids and their responsibilities are different than you may have thought. They are also more interested in video streaming so your tie up with that large mobile gaming company may not be as relevant as you had hoped. Now, imagine you’re able to extract these consumer insights before you have set up your campaign, to make your communication more effective.
Vittorio Furlan, Head of Business Insights, ADA says, “The way we used to draw out customer profiles or personas has changed dramatically. Because every person is different in their own unique way, there is much to learn about what they like, as well as their intent. To understand consumers, we use data to paint a better picture of them – that way, we can start shaping the creative expression that speaks directly to them, and win them over.”
The Millennials report is part of a series of hyper-targeted, audience-specific insights that deep dives into digital behaviours by extracting consumer insights, learning from actual customer digital footprint, and distilling the perfect creative expression – all through the power of data. Next up in the series are reports on Mothers, High Networth Individuals, Gamers, and Fitness Fans.
Read the full scoop on Millennials here.