Millennials are more eager to embrace brands that speak to who they are and serve up content that enhances their “status,” according to new research published by digital agency Moosylvania, which also revealed the top 100 brands for 18- to 34-year-olds.
The report highlighted an interesting trend emerging among young people, as 25 per cent of the millennials surveyed said that they now consider themselves to be a brand and use popular social media platforms to express themselves and strengthen their own identity. Moosylvania noted that marketers should look to tailor content to these wants and needs.
It is no surprise to see the biggest names in the tech and fashion industry head the list of millennials’ favourite brands, with Amazon, Nike, Apple, Sony, Google and Samsung all in the top ten, while Adidas, Starbucks and Pepsi also featured prominently. The study averaged thousands of responses across social media from the last four years to determine the most popular brands.
Moosylvania then looked at various case studies and asked further questions to find out why certain brands are resonating with millennials. The overall takeaway is that young people prefer to associate themselves with brands that make them look better. For example, they are likely to share content that makes them appear more socially responsible, funny, clever or stylish.
“We’re marketers marketing to marketers,” Moosylvania CEO Norty Cohen said about millennials, who are becoming more confident in their ability to post at the right time to drive more engagement with their own audiences. “They’re very aware of their social status. So, brands that can serve them, that can give them something they need to help them with their status, do well.”
He also warned big brands that they don’t have a divine right to high levels of engagement. “These people are not consuming advertising; they’re choosing to participate in brands,” Cohen added. “We saw a lot of people that were big advertisers ranking at the bottom or not ranking at all…It doesn’t matter how much you advertise; if you haven’t given them a way to participate and a way you can serve them, awareness is not going to get you there.”