Mindset of the New Millennial
Another hot social issue among Millennials today is minimalism – how to live a full life on minimal resources, and with less stuff, less stress and space. Link your brand to responsibility and personal fulfillment beyond “stuff” associated with your products, and continue to prove your price:value ratio rocks your industry. From what research by PriceWaterhouseCoopers and other firms cited by FutureCast in its recent Millennial marketing report shows us, minimalism is likely to have more than a minimal impact on our economy in the near and not-so-distant future.
Knowing the values that get the attention of Millennial shoppers and many GenX shoppers, for that matter, puts us on the right path. But the journey doesn’t stop there. We need to know how linking to these values helps us became the kind of brand that Millennials want to associate with today and actually purchase from.
What we learn from BCG’s perspectives report on its Millennial consumer sentiment survey is Millennials have definite expectations from brands and their ongoing relationships with them. Here are just a few of them:
- Be available to help me and serve me 24/7
- Support causes and show me the impact you’ve had
- Provide me an experience not just something to buy
- Be smart and authentic
- Surprise me, entertain me with a brand personality I can relate to
Yep. I added another list of traits and attributes to try to blend in to your appeal to Millennials. Seems daunting, but clearly it's doable, as there are many brands today successfully appealing to and most importantly selling to Millennials who actually like them and talk about them in both the real and digital worlds. BCG’s survey also revealed that more Millennials than any other generation of consumers say the brands they chose say something about who they are; their values and where they fit in. They also admit more people ask them about their knowledge and opinion of brands and that they are likely to take positive actions on behalf of brands they like. When it comes to sharing brand preferences or experiences on social media and other online sites, they are substantially more likely than any other generation to do so – showing 57 percent are likely to share experiences online, compared to 43 percent for Gen X and 31 percent for Baby Boomers.
Jeanette McMurtry is a psychology-based marketing expert providing strategy, campaign development, and sales and marketing training to brands in all industries on how to achieve psychological relevance for all aspects of a customer's experience. She is the author of the recently released edition of “Marketing for Dummies” (Fifth Edition, Wiley) and “Big Business Marketing for Small Business Budgets” (McGraw Hill). She is a popular and engaging keynote speaker and workshop instructor on marketing psychology worldwide. Her blog will share insights and tactics for engaging B2B and B2C purchasers' unconscious minds which drive 90 percent of our thoughts, attitudes and behavior, and provide actionable and affordable tips for upping sales and ROI through emotional selling propositions. Her blog will share insights and tactics for engaging consumers' unconscious minds, which drive 90 percent of our thoughts and purchasing attitudes and behavior. She'll explore how color, images and social influences like scarcity, peer pressure and even religion affect consumers' interest in engaging with your brand, your message and buying from you. Reach her at Jeanette@e4marketingco.com.