As social media becomes the defining element of the 21st century “millennials” are finding their own unique ways to break into industries. Many businesses are being forced to market their products to Instagram “influencers” for promotion instead of traditional ads and opportunities for personal branding are becoming increasingly apparent.
“Just like bloggers, YouTubers, and anyone who’s amassed an audience around the content they produce, Instagrammers have reach and influence figured out — two things many companies struggle with,” according to Shopify. With this being said, more and more corporations are realizing the value of reaching out to Instagram models, influencers and fitness entrepreneurs as a method more effective than commercials.
Why? Who are the people that pay attention to these outlets?
The answer is simple — the youth.
American youth are amongst the most powerful social groups in the world based on their abilities to create change for themselves by the creative means provided through technological advancement. Don’t like doing stand-up comedy because it takes too long to “make it?” Make some Instagram videos. Proud of your body and want to show off the hours you put into the gym? Advertise FitTea. Tired of manufacturing companies making antiquated designs, cuts and patterns on clothes? Start your own clothing brand. Want to be a model? Instagram. A photographer? You guessed it- Instagram.
With the access in this generation, it is theoretically almost too easy to become exactly what you want to become in life. And the younger you are, the more in-tune you are with the very social platforms that can help you do so.
With the expansive opportunities for monetization on Instagram, a photography platform, it is intuitive to adopt similar strategies to the future (and present) of video with YouTube. YouTube vlogging is extremely lucrative. And who is cashing out on these opportunities? Millennials. The YouTube Partners program has created millionaires out of top content providers such as PewDiePie and FouseyTube (Techwiser). Advertisements are the main vehicles for monetization, as well as sponsorships for products such as SeatGeek and EduBirdie. And, again, the main consumers are — you guessed it — the youth.
Why does it matter?
The growth of social media will only become more and more apparent with time. Already in the 21st century, the world had a completely different experience in communication than in world history. In 17 years, we have redefined the scopes of social interaction, friendships, financial transactions, television and media, and effectively business. Millennials no longer need to move to access a corporation across the world — it is easily accessible with the click of a button.
To older generations, it may seem easy for the youth today to rise up and achieve their dreams. And on paper, it is — there are a wealth of opportunities for monetization, promotion, sales, and expansion online for any brand — including your own. However, with a change in industry comes an increase in competition.
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