09 Dec Is the Next Generation Willing to Pay for Digital Content?
A recent Ad Age survey revealed that, contrary to popular belief, younger customers are more willing
to pay for digital content. Among customers younger than 26 in developed markets, 30% are already paying for some forms of digital video; 34% pay for digital music and 40% paid for games.
Success for media companies and ad agencies depends on understanding Generation #hashtag and its media preferences.
New age digital content should be both user-influenced and, in some aspects, user generated. A business must be successful at growing audiences and building businesses based on user engagement and contributions. Today’s hottest trend is native advertising; old-school banner ads may be on the decline.
Consumers do worry about privacy and how their data gets shared, however according to the survey they were much more willing to share data if the gatherer asked for permission. It actually doubled the number of consumers willing to share their data.
How should agencies use this data? Deep insight into consumer behavior is more critical than ever. Advertisers demand precise targeting and ROI measurement while online media stores depend on recommendations for the next purchase. Customer profiling and saved payment information at the ready is the best way to drive impulse purchases.
To read more about the Ad Age survey and the #hashtag generation, click here.
image courtesy of freedigitalphotos.net