Here are my collected statistics and facts which helped me develop and back my idea.
I will here be giving evidence towards:
- To choose videos as my main out source of content
- My choice on my target audience
- Why millenials are becoming entrepreneurs
- People using social media to shop and online shopping
- Millenials are more likely to donate towards my project
I am focusing a lot of my attention on video content for my business as through research I have discovered that as a collective we learn more efficiently from watching how to do something instead of reading how to do it.
Not only this but “the average consumer with an Internet connection watches roughly 206 videos per month, and Nielsen claims 64 percent of marketers expect video to dominate their strategies in the near future.” (https://www.psychologytoday.com/blog/behind-online-behavior/201505/video-vs-text-the-brain-perspective)
Also I did a survey to see how people learnt and the majority of people said they learnt better through watching videos with being taught face to face coming second:
Youtube will be the main host for my videos as :
There are other benefits to using Youtube to host your videos such as:
- Server bandwidth: “Video files can be quite large in size. Unlike images—which are typically measured in kilobytes; a HD video file can easily weigh in at more than 100 MB”
- File size limits and storage space: “Most web hosting providers limit the maximum size of uploaded files to 50 MB or less, prohibiting you from uploading video files that are longer than a few minutes or so in duration.”
- Slow loading or freezing videos: “If your video file resides on a single server with a limited amount of bandwidth, folks who attempt to watch your video may experience unexpected pauses during playback while their computer waits for the file to download or stream to their computer”
- Loss of visibility and traffic: “When you host your video on a third-party site like YouTube or Vimeo, you also benefit from their popularity, and folks could find your video—and subsequently, your own site—who otherwise wouldn’t have known your site existed.”
- Piracy: “If you’re running a membership site with protected video content (like this site), you’ll want to ensure your video files can’t be downloaded by some nefarious individual and then redistributed illegally on file sharing sites.”
Why I chose my target audience and the facts behind that can be found here:
Here is the ‘BNP Paribas Global entrepreneurs Report 2016’.
This report really helped build evidence towards this growth within millenial entrepreneurs. It does show the growth compared to the boomers. Despite boomers being still more likely to own and start up a business millenials are quickly catching up and have the advantage of being born within the birth of social media and are natives to this new digital world.
Online shopping through social media
Here is a graph from the “scotteblog” which displays some statitical evidence for consumers buying influence with social media recomendations. We no longer book a hotel or eat out without checking trip advisor and shopping for products is the same. Social media allows people across the world to easily quickly rate a page or comment about services. This in return can really boost the trust within social media businesses over high street stores or websites alone.
Infact “the shopper now made 51% of their purchases on the web compared with 48% in 2015 and 47% in 2014, according to the survey by UPS and analytics firm comScore Inc.”
“This year, 44% of smartphone users said they made a purchase from their device, up from 41% a year ago.”; and “more than 51% of people on Facebook and 64% of people using Twitter said that they “are more likely to buy the brands they follow or are a fan of”
Millenials are more likely to donate
Why crowdfunding is millennials’ charitable channel
“Crowdfunding fits when and why Millennials want to give, and is appealing to entrepreneurs who know how to do it right. First, it suits their lifestyle. Eight out of 10 crowdfunding donations are made via mobile—most of them through social networks—combining two technologies that Millennials take to as naturally as breathing. In contrast, a majority of older generations say they still aren’t comfortable donating through a smartphone or social network.”