We know two things about Millennials, they will soon have record-breaking purchasing power and they spend TONS of time with content created by their peers, otherwise known as UGC (user-generated content).
What we didn't know was how much time they spend with UGC and how they feel about it. That is, until now.
In January 2014, Ipsos MediaCT, Crowdtap and the Social Media Advertising Consortium partnered to survey 839 millennial (18-36yrs old) men and women. The study explored millennials’ media consumption habits, how they perceive information from various sources and how these same media sources impact purchasing decisions.
Here are 5 Key Data Points that Might Surprise You:
1) They spend mind-blowing amounts of time with media. In aggregate, millennials spend roughly 18 hours (not mutually exclusive) with different types of media per day. This often includes viewing multiple devices at once. If this surprises you, you’re not alone, but their media adds up when they’re simultaneously checking their phones, letting their computer screen glow, listening to radio and glancing up at the TV.
2) 30% of this media time is with UGC. As marketers we know UGC is a time-suck for millennials, but just how much time? They report spending 5.4 hours a day with content created by their peers (UGC). This represents 30% of their total media time and is rivaled only by all traditional media types combined (print, radio and television at 33%).
3) They HEART their UGC. On a daily basis millennials prioritize social media (home to loads of UGC) above all other media types, with 71% saying they engage in social media daily, above even TV at 60%.
4) They trust and remember UGC above all other media. I mean who wouldn’t trust a peer’s firsthand testimonial over a brand trying to make a sale? Millennials report that information received through UGC is trusted 50% more than information from other media sources, including TV, newspapers and magazines. The study results show that peer reviews are slightly more trustworthy than professional reviews. Additionally, millennials reported finding UGC content 35% more memorable than other sources, rivaled only by TV video ads, the previously undefeated champions of memorability.
5) UGC helps them buy, buy, buy. Millennials reported that UGC is 20% more influential on their purchase decisions than other media. According to a recent Crowdtap insights poll, over 50% of the 900 millennials surveyed reported tapping UGC before making big purchases like cars, major electronics (TV, computer, tablets, etc.) or major appliances (fridge, washing machine).
There’s so much more. Download the entire research report at corp.crowdtap.com/socialinfluence