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Hacking The Millennial Mind

The 2016 consumer is evolving by the minute, and the mindshare of the consumer is becoming an intriguing challenge to capture. Advertisers are shifting gears to find the best mode of communication and are aggressively using new media as their main advertising channel. The Millennial Generation (ages 18-34) has become the central target audience to engage because it makes up the young adult workforce and is the most diverse generation in the world. This unique group demands meaningful content on-the-go that is relevant, about personal preferences, priorities, and profiles. Millennials want to connect with a compelling message that strengthens their relationships with vendors and drives them to enjoy products and services.

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It was less than 100 years ago when Talkies put an end to the era of Silent films. Since then movies, television, and video advertisements have shared stories, persuaded us to buy products, and brought news from around the world through imagery and sound. Video advertising is dominating our lives with the help of global data and internet. Our mobile devices and computer screens have replaced our television screens, and even movie theater experiences. Yet, we shrill in unison and turn off the singing, talking, and messaging of a video ad that lasts less than 30 seconds. As a result, advertisers are moving away from traditional video marketing and returning to the old school silent ads, in hopes that they will help sell products in an innovative way using captioning to draw you in.

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It’s no secret that the amount of data available to us today is growing exponentially. Much has been written about the rapid growth of Big Data and the progress being made in artificial intelligence. Analytical research is enabling us to extract even more meaningful insights from this data. However, in order to truly exploit the full potential the growing investments in big data, we must also look at the last mile: the suite of technologies used in translating data-driven insights into consumer action.

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Long gone are the days of Lloyd’s Coffee House, where the risk was assessed and coverage granted based on the best available information, carried indirectly from the high seas. In those days, all available information was conveyed in a matter of minutes over a mug of rum. Relationships were built and maintained through face-to-face interactions and competition was non-existent. Customers were uninformed and without options, so they kept coming back.

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There is no inexpensive solution when making a video advertisement. It can cost you as much as $5 million (that is at the Super Bowl) or even thousands of dollars considering that 100,000 PPC pop-ups on YouTube can cost $.05, and will cost you minimally $5000.