Besides the difference of the letters “a” and “e,” there’s a lot that sets the two apart. A perennial is defined as a plant that lives more than two years. A parennial, on the other hand, is a new word coined by social content company FULLSCREEN, to refer to a particular segment of millennials between the ages of 25 and 37 and who have at least one child still living at home. Parennials obviously intend to be around a lot longer than two years.
FULLSCREEN, which manages social and creative strategy for both talent and brands, felt the need to dig even deeper in gaining a better understanding of this segment of millennials. This is the demographic that embraces a good work/life balance, along with a healthy diet of social media. As a result, they partnered with Talk Shoppe and conducted research late last year that revealed some interesting results.
Parennials comprise 55% of all millennials and wield collective purchasing power of $1.4 trillion, according to FULLSCREEN. A remarkable 56% admit to shopping every time they open their feeds on social media. On average, the study found that parennials spend 14 more hours on social media than two years ago.
This particular demographic depends heavily on social media. An amazing 96% say they rely on technology to assist them in parenting. Nearly three-fourths (74%) bond with their kids by viewing content at least half the time the young ones are also watching.
How to Market to Parennials
Parennials rely a lot on voice, according to FULLSCREEN. Marketers who can utilize voice for that target audience will have a distinct advantage. FULLSCREEN also reported that the reliance on tech runs so deep within this demographic that 90% of perennial parents let their kids use tech regularly.
Marketers also need to be aware that Perennial parents have a serious concern about safety. According to FULLSCREEN, safe content is a bigger concern than content overload. 62% cited inappropriate themes as their top content concern, followed by online predators (59%). Other content concerns voiced were manipulative content and online bullying (38%) and developing an addiction to tech (33%).
Marketers need to be sure to allay these fears and communicate what they’re doing as a measure of assurance. FULLSCREEN said parennials like to ensure that their kids are viewing content from sources they trust.
Entertainment that engages the entire family can be extremely popular. Parennials say influencer-made videos are helpful in opening up discussion while discovering what their kids like. They also cited digital video games as favorites.
With the exception of individual needs, marketing campaigns that would likely have greater chances of success with parennials are those geared to the entire family rather than each individual family member. According to FULLSCREEN, parennials are also aware that their kids will pick up other aspects of digital behavior from others within their circle, so marketers who can identify and connect with these groups would also see greater success.