Millennials Consume Content and Shop Differently

 Millennials consume content and shop in different ways from other generations and these Gen Y consumers are having a profound influence on the shopping behaviors of Gen X and Boomer buyers. Today’s post offers a few more excerpts about these younger consumers from panelists and presenters at the October J.D. Power Automotive Marketing Roundtable (AMR) in Las Vegas, NV.

What Does the Car Mean to Millennials?

“About 25% of millennials said they would buy a car sight unseen. They’d go online, find it, buy it and have it delivered. This is going to become a lot more important as we go along.”—Clayton Stanfield, senior manager, Dealer Outreach, eBay Motors

“For most of us, the car was the thing we wanted. The reality with millennials is that it’s probably a device they want first and foremost. A car is kind of a secondary consideration. Maybe it’s due to economics. Maybe it’s just due to how powerfully products have been marketed to them—like Xboxes and PlayStations. . . for auto manufacturers, a way to accrue loyalty and affinity to their brands is to get deeply immersed in offering the consumer some free content.”—Randy Shaffer, director, Xbox West Sales, Microsoft Continue reading ›

Experts Discuss how Millennials Consume Content, Shop Differently

AMR 2013 audienceReaching millennial consumers is a key focus for marketers in the auto industry, and was a key topic during presentations and panel discussions at the October J.D. Power Automotive Marketing Roundtable in Las Vegas, NV. A few highlights from a few sessions with panelists and presenters that addressed millennial consumers are presented.

“Let’s talk about millennials. . . They won’t get cable. They don’t have any money. They’re entitled. They want to do their own thing. They’re a completely digital first generation.”—Mike Shields, digital editor of AdWeek

How Different are their Media Consumption Habits?

“My team at Microsoft—80% of them are millennials—it’s an on-demand environment. They want to consume a lot of content at the same time. They can do it better than any other group. Some 83% are using a second screen and multi-tasking. . .You have to make sure you have something there to complement what they are consuming on TV.”—Randy Shaffer, director, Xbox West Sales, Microsoft

“We see ‘fanboys’ consuming media voraciously across all platforms. They go to five movies a month. They’re watching two more hours of television—on demand—than their own peer set. They’re consuming a ton of web video. In the case of gamers, they are willing to pay for content. They’ve been paying for $60 games for a very long time. . . You need to figure out how to present it to them. They will steal it first if they have to. But, if it’s good, they are willing to pay for it—that’s proven in gaming, premium video and web video content as well.”—Jay Sampson, executive vice president, sales and operations, Machinima Continue reading ›

Western Auto Conference Panel Talks about How New Media Meets Consumers

“The future is now” is not a cliché in automotive marketing. During the recent NADA/J.D. Power Western Automotive Conference in Los Angeles, three automotive marketers from Facebook, Google and Microsoft’s Xbox joined a California auto dealer with 11 stores and multiple franchises to talk about the rapid changes they have observed and encountered in reaching consumers and marketing autos across platforms. Several upcoming posts will feature excerpts from their discussion at the event about channels, processes, best practices and connecting with consumers—especially new-vehicle shoppers and buyers.

Moderator:

John Lisko, Executive Communications Director, Saatchi & Saatchi

Panel members:

Doug Frisbie, head of automotive for Facebook

Michelle Morris, Automotive Industry Director, Google, Inc.

Randy Shaffer, Western Regional Sales Manager, Xbox, Microsoft Corp.

Mike Sullivan, Dealer/owner of LAcarGUY Family Group in California*

Heading in the Right Direction and Picking Up Momentum

“The economy struggles a bit, but is heading in the right direction,” said John Lisko, moderator of the panel discussion on the intersection of new media and new-vehicle buyers. Summing up the current retail setting, Lisko added, “We’re seeing consumer confidence pick up. We’re seeing the right momentum. We’re coming off of Black Friday and Cyber Monday with record-breaking sales—a 100% increase in mobile platform purchases.” In first remarks, Lisko first asked panelists to describe their businesses today in relation to the auto buyer and also what they see ahead. A few highlights:

John: How are your businesses? How are they looking today?

Mike: We came off of record years—six years in a row. This is our first flat year, but it’s a very good flat year. I think the 14.5 million-unit sales forecast this year was very predictable. And I think we are going to have nice, arithmetic growth from here on out. I just don’t see the big pop and bubble that some are seeing. One of the biggest concerns for me is: there are a lot of cars out there and the market is coming back nicely. Production is coming back on a rail.

Doug: It’s been an interesting year for Facebook. There has been a massive shift to mobile, which was much faster than anticipated. There are three factors driving that—the first is usage. Last year, we had about 376 million users. This year, it’s over 600 million. The second is engagement. The time that people are spending on Facebook on a mobile device is actually greater—about 8 hours a month vs. 7 hours on desktop. The third part is the monetization aspect. In our fourth quarter, about 14% of our advertising revenue came from mobile. That’s notable because we didn’t have an advertising revenue stream at the beginning of 2012. Those three factors combined are having an exponential effect in making mobile such a significant part of our business. Continue reading ›