The question asked most frequently of marketing professionals in the jewelry industry is where marketing dollars should be spent to reach millennials. The answer we give is, unfortunately, not one jewelers want to hear. There is no perfect media platform advertisers can concentrate all of their marketing dollars in order to reach these consumers.
Based on their weekly time spent (in hours) with media, this demographic is extremely fragmented:
20 hours on regular TV (live and time-shifted viewing)
16 hours on smartphone usage
25 hours on AM/FM radio
15 hours accessing the internet on a PC
1 hours gaming on a console
06 hours on multimedia devices
7 hours video on a PC
1 hour on DVD/Blu-ray devices
At first glance, targeting millennials looks easy. Marketing dollars should be spent on TV and the internet. Ok, but where? There are thousands of TV shows that are popular with consumers. One of the most popular is Game of Thrones. Guess what? HBO does not allow commercials, so you can’t reach consumers with a spot there. You can target consumers while they are watching the show, though. Most millennials are also using their mobile devices while watching regular TV. They tend not to change channels or fast forward through commercials because they are on these devices. You can serve digital ads based on Game of Thrones content online by targeting consumers who have an affinity for the show. Where would you advertise though? The possibilities are endless.
Obviously, there’s no clear winner. Millennials are spending increasingly more time with video and social, but they are not necessarily cutting back their time with other media. To communicate with these consumers, marketing professionals must make decisions on which media to use. What should receive more attention? What should receive less attention? These answers are ever-changing as consumer media habits change.
Do you want to know the best place to reach millennials? Everywhere.
