Millennial Magic – The Untapped Potential of the Under-40 age groups
Millennials and Generation Z are transforming media consumption patterns in Trinidad & Tobago, leading the shift from traditional media platforms to digital, with an emphasis on social media; television, however, continues to be an important source of information, especially for news, a new survey from advertising and marketing communications agency cmb shows.
These groups, which range from 15-24 for Gen Z and 18-35 for millennials, make up the largest age demographic in Trinidad and Tobago, according to the latest census data, as well as the biggest chunk of the country’s labour force. The survey, commissioned by cmb and conducted by data analytics firms Lucent Research Ltd and Sacoda Serv Ltd, featured interviews with over 900 people from demographics that best reflected census data.
Facebook was the most popular medium for millennials, with 57.3 percent of respondents naming their most noticed media, but traditional media powerhouses, television (48.8 percent) and radio (39 percent), still managed to maintain a stronghold. As a preferred news source, however, television proved to be most trusted, with 53 percent of choosing the platform over Facebook (26.8 percent); newspapers had a surprisingly strong showing as a news source, with nearly a quarter of millennials (23.3 percent) naming it among their top news sources.
Generation Z also overwhelmingly chose television as their preferred news source, but that was the only traditional media format placing among the favourites of youngest set of consumers. Facebook dominated the field among Gen Z, scoring 61.4 percent as the most noticed media, followed by television, with online (excluding social media) came in at 34.1 percent.
While there are no exact parameters defining when a generation begins or ends, millennials are generally classified as those born between 1980 and 2000, and Generation Z as those born from the mid 1990s to now. Both these demographics, however, are unique to their predecessors because of the ubiquity of the internet for much if not all of their lives.
Understanding their media consumption trends can help advertising and marketing executives tap into a receptive market that is evolving right along with the technology that their world depends on, creating content that reaches them where they are—in primarily digital spaces.
Eighty-two percent of millennials have Facebook accounts, and 51 percent have Instagram; 80 percent of Gen Z have Facebook and nearly 57 percent have Instagram. Over 60 percent of people 18-34 said they went online daily, and over 95 percent said they went online in the last week. A social media presence is all but imperative for brands to reach potential customers, interacting with them in an organic way, with messages integrated within these platforms.
Interestingly, for all their time spent online—especially via smartphones— 24.3 percent of millennials and 26.8 percent of gen Z did not have mobile data plans, while 51 percent of both groups had pre-paid data plans. Internet surfing and social networking instead took place via home WI-FI connections, work or free mobile internet hotspots.
For traditional media, 38.4 percent of television watchers were between 20-34 years old; only 9.8 percent were between 15 and 19 years old. Following an almost identical trend, 38 percent of radio listeners were between 20-34 years, while 9.2 percent were 15-19 years old. Thirty-eight percent of newspaper readers were also between 20-34 years, but just 6.3 percent of 15-19 year olds.
It is, however, important to note that because of the population distribution, the millennial generation continues to remain the highest demographic of traditional media consumers— something any comprehensive media strategy needs to consider. Depending on a company’s strategic goals, brands can leverage the advantage of both traditional and digital media since each offers its own strength in the context of marketing objectives. The millennial/gen Z shift towards digital does not have to mean an abandonment of traditional platforms. Marketers and advertisers thus require accurate and up-to-date data and analysis that will help them fully process a strategy that synergises the best of both elements to interest and engage their target audiences.