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Much like Big Data, content marketing and programmatic buying, marketing to Millennials has become a hot topic. It makes sense: Millennials (people aged 13 to 28) are the largest age group in Latin America, according to a report from Tendencias Digitales released in March 2014. According to the report, called Conecta tu marca con los millennials, 30% of the population in Latin America are Millennials, while 27% are Generation X (people 29 to 48), 26% are Generation Z (under 12), 13% are baby boomers (49 to 68) and 4% are veterans (over 69).
Given that Latin America’s population is at around 588 million, this means there are 176 million Latin American Millennials, a pretty significant market. Based on some of the latest research we have reviewed, here are some suggestions for tailoring to your media strategy to Millennials in Latam.
#1 Online Trumps TV
When we look at ad spend in Latin America, clearly TV rules and in most countries free TV takes up the majority of ad spend. For example, free TV takes up 66% of ad spend in Brazil, 53% of the ad spend in Mexico and 49% of the ad spend in Peru, as summarized in our recent media report.
Yet only 68% of Latin American Millennials say they watch TV, compared to 75% of Generation X and 72% of Baby Boomers. A larger percentage (74%) of Millennials in Latin America go online than other age groups, such as generation X (69%) and Baby boomers (72%).*
Beyond overall usage, Millennials in Latin America spend an average of 7 hours a day online, the same amount as those in North America. When asked which form of media provides the credible coverage of news, 45% of Latin American Millennials picked Internet and social media, as opposed to 33% selecting TV news and 18% selecting print news. In addition, when asked to select their favorite entertainment medium, 69% of Latin American Millennials chose Internet, while only 28% chose TV.**
Sources: *Tendencias Digitales, **Telefónica
#2 Invest in Online Video
Research keeps pointing to the heavy consumption of online video in Latin America, and it all likelihood it’s probably driven by Millennials. This is because 59% of Millennials in Latin America watch movies online and 46% watch TV online, much higher percentages than other age groups: in comparison, 47% of Generation Xers watch movies online and 33% watch TV shows. The percentages are even lower for Baby Boomers in Latam: 36% watch movies online and 21% watch TV shows online.
Source: Tendencias Digitales
It’s clearly not a shock that 88% of Latin American Millennials have social media profiles, especially since social media is the #1 activity among Latam Internet users. Now, in terms of weighing these investments, of the 88% of Latam Millennials on social media, nearly all (93%) are on Facebook, while much smaller percentages report using Instagram (29%) and Foursquare (10%).*
Beyond use, social media are a stronger influencer on the purchase decisions of Millennials in Latam than they are with other age groups. And when structuring social media marketing, agencies and advertisers should keep in mind that Millennials tend to want specific benefits from brands: 69% want promotions and 45% want activities.**
Sources: *Tendencias Digitales,** Telefónica
As part of any brand’s online strategy to reach Latin American millennials, mobile has to play a huge role because it’s such a huge part of their online behavior and daily lives. Let’s take a look:
- 80% of Latin American millennials say they connect to social networks with their mobile phones*
- In general, they prefer using mobile devices to look for product info and prices*
- 68% of Latin American Millennials surveyed by Telefonica in 2013 said that they own a smartphone**
- In a Cisco survey, 60% of Latin American Millennial respondents said they check their smartphones compulsively for emails, texts or social media updates***
- When segmented by gender, 85% of female Millennial smartphone users check their phones compulsively, while 63% of males report this compulsive checking***
- Among Latam Millennials, smartphones were twice as popular as desktop PCs and three times more popular than tablets***
- 90% of Latin American Millennials say that checking their smartphones is an important part of their morning routines***
- 60% of Latin American Millennials use 1 to 9 apps regularly and 20% use 20-25 apps regularly***
- Nearly 70% say that smartphone apps are important to their daily lives***
Sources: *Tendencias Digitales, **Telefónica, ***Cisco
Contact us to find out more how we can help you reach Latin American Millennials with online media options that include social and mobile.