Millennials represent the next hot target for marketers according to new research from Octagon Access.
For years, many brands have been looking to influence this generation of 80 million with its buying power of $200 billion dollars and its unprecedented sway in a DSM (digital, social, mobile) – connected world where word of mouth reigns supreme. The default millennials’ marketing platform has traditionally been music. However, Octagon Access’ research reveals that this generation does not just want to be influenced anymore, they want to be inspired.
Furthermore, the research findings show the sport of basketball is becoming both a game millennials want to experience as well as part of an inspiring lifestyle they want to emulate, thus, creating a dynamic new territory for brands.
“With that opportunity in mind, Octagon Access set out to help brands better understand why this shift toward basketball is occurring and how they can leverage it to inspire this generation of consumers in more meaningful and memorable ways,” said Bobby Jones, Octagon Access vice president.
Jones added, “The NBA has more avid millennial fans than any other major sports league and 16 percent of millennials watch NCAA basketball. While the quantitative connection is evident, the deeper connection is revealed through our Passion Drivers® research — that quantifies why fans are fans — which shows millennials over-index in player affinity and player excitement, fan characteristics that can help sponsoring brands determine effective sponsorship activation tactics.”
André Pinard, who leads qualitative insights for Octagon Access, and who co-authored the marketing to millennials report, explained the significance of the findings. “Our new thinking defines millennials with a set of characteristics we call The New 3. Within this framework, millennials have a unique outlook on success. They are more likely than older generations to define achievement ‘on their own terms,’ vs. older societal norms,” Pinard said. “The player affinity within basketball culture allows participants to discover and engage with accessible examples of success re-defined and see, through these players’ lifestyles, new paths toward their generation’s iteration of the American Dream.”
For more information at http://www.octagon.com>