In 2016, marketers remain as focused as ever on millennials, spending four times more to reach them compared to any other demographic. But how can marketers maximize engagement and ensure ad spending is effective? Once you fully understand the characteristics of your audience, you can leverage that information into a better ad spend and a more effective overall marketing strategy.
We have identified four unique subgroups of millennials that marketers need to know about: Comfortable TV Watchers, Successful Home Owners, Active Affluents, and Struggling Aspirationals (the largest group by more than half) through a cluster analysis methodology. Looking at those groups and how marketers reach and target them, clear opportunities for better engagement emerge. Let’s take a look at the travel vertical, for example.
Millennials love to travel – and the travel industry has a clear opportunity to better engage them. This vertical spends a lot on Comfortable TV Watchers but not on those with a similar income and profile, the Active Affluents. Often new parents or couples looking for new travel or outdoor adventures, the Active Affluents can be targeted with ads for everything from family-friendly destinations, affordable vacation rentals, package tours, wilderness excursions, and luxury getaways to new culinary experiences. This group is especially under-targeted by mobile advertising, so a focused campaign to reach this on-the-go group could translate into more travel dollars spent.
No matter what the industry, using data to identify and engage with subsets of your main audience means a smarter and more effective campaign overall – which means more opportunity to reach the millennials as a whole.
To learn more about Turn’s millennial cluster analysis research – characteristics of the four groups of millennials, marketers’ spending habits, and more – check out the infographic and video here.
Founded in 2005, Amobee is an advertising platform that understands how people consume content. Our goal is to optimize outcomes for advertisers and media companies, while providing a better consumer experience. Through our platform, we help customers further their audience development, optimize their cross channel performance across all TV, connected TV, and digital media, and drive new customer growth through detailed analytics and reporting. Amobee is a wholly owned subsidiary of Singtel, one of the largest communications technology companies in the world.
If you’re curious to learn more, watch the on-demand demo or take a deep dive into our Research & Insights section where you can find recent webinars on-demand, media plan insights & activation templates, and more data-driven content. If you’re ready to take the next step into a sustainable, consumer-first advertising future, contact us today.
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