Cracking the Millennial Code
The millennial generation is certainly making a name for itself. Millennials have grown up not knowing what life would be like without a cell phone. Social networking is the norm to keep in touch with friends. They expect positive reinforcement—no matter what (think purple ribbon for “participating” in the swim meet race).
A lot of companies are trying to crack the code to market to this elusive generation. How to stand out? How to build loyalty? What closes the sale? I’ve been digging into existing research on the millennial generation and taking some mental notes. There are a few key takeaways, in no particular order, to keep in mind when developing your marketing strategy.
- Millennials can never get enough advice. The average millennial will consult four sources before making a decision. It starts with friends and family, and it doesn’t stop at Google searches and a shout out to their social network for recommendations. Why? Millennials aren’t super confident in their knowledge to make big decisions. The input and research done ahead of time validates the choice, something Millennials thrive on.
- Experience is the Holy Grail. Millennials expect to engage with brands, toss around ideas, share feedback and develop a relationship. If not, the brand value diminishes.
- Technology isn’t a nice-to-have; it’s a must-have. If you want to break through to this market you must have the latest and greatest to offer. It’s about all access, all the time. I can’t sum it up better than this stat: More than 80% SLEEP with their cell phone on or near their bed.
- Millennials are harder to please than previous generations. Top-notch customer service goes a long way. If ignored, you may be facing a crisis when that unhappy, mistreated millennial spreads a negative review to their online network of thousands.
- Traditional push advertising makes Millennials queasy. They like to present their problem or need, then have a brand offer them customized options based on that. Millennials really don’t like to be told to do things.
- Millennials love the environment and they’re very socially minded. Whatever you can do to prove you’re also in the fight for a better world will play well in their book.
How is your company currently reaching Millennials? Please share successful (or unsuccessful) stories on how to reach this generation, predicted to be the wealthiest yet.
Comments
Claire, you're comment about good customer service is top of mind for me over the past two weeks when both my husband and I have experienced terrible customer service. The customer service bar has definitely been raised and not all organizations are taking it to heart - for millenials, specifically or in general.
I've also noticed more people not owning their mistakes. Is this a characteristic of millenials, do you think? The "not my fault," mentality? It drives me nuts. We all make mistakes. Own it. Learn from it. And, move on.
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