Millennial Marketing Insights
Millennials again. Now I know we had done an episode about this not too long ago, but it’s an all-important segment, demographic that is starting to take over, have a lot more buying power, and that a lot of people have misconceptions of—you know—they might be ruining the way things are bought or purchased. Today we have Devon.
And Devon is a graphic design intern here at Aftershock, and she is a Millennial, so I thought we’d talk a little bit together, and inform you about some misconceptions. So the first thing that is pretty apparent is, Millennials are obsessed with their phones. What do you think about that?
I think that we’re more digital natives. We’ve grown up on technology, and we know the importance of it and the resources that it can give us. So I think that sometimes we may seem oblivious to the world around us, but we’re really trying to take advantage of what we’ve been given.
That’s fair, okay. So, I’ve also heard people say Millennials are lazy and entitled. Lazy and entitled not only at work, but as consumers. What do you think?
I think that we do value having perks in the workplace. I think we think it’s silly to work forty plus hours in the workplace when we can do it—the same amount of hours somewhere else. I think that we like to get the most out of what we’re buying, so we’ll pay a little bit more to a company that will support the values that we believe in.
What about this: Millennials can be fickle, in my view anyway, they can be fickle. Meaning that they’re on one bandwagon one day, and on to another one the next day. They love a brand, and then ehh, I don’t like that brand, they’re old news. There’s no brand loyalty, it seems like. What are your thoughts on that?
I think that we love to get information. We’ve grown up obsessed with information, coming from the technology that our parents have given us, and I think that we get upset when we try to find information that we are looking for but we can’t find. So we get kind of mistrust in companies that we feel like are lying to us, soI think that’s why we go from company to company.
Okay, but if a company does a really great job of communicating with you, through Social Media, through their website, and you feel like they’re telling you the full story, you’re more likely to be loyal.
But it’s the ones that kind of stop that communication that usually get skipped on and go on to the next. Yeah. Okay, that’s fair. Growing up, my mom was always a big coupon shopper. She made sure that every dollar got stretched as far as it could be. And it seems to me that Millennials aren’t like that. They aren’t looking for a deal. They are not financially or fiscally responsible. Is this true? Or what are your thoughts?
Actually we really understand the global marketplace, I think we know it’s important to keep money in the local economy. We definitely prioritize local produce, buying locally, eating at restaurants that grow their own vegetables. We also care about the planet and sustainability, you know, reducing waste, and I think that we’re going to pay more money for those companies as opposed to others. We really like companies that value our values.
So in general, it seems like you guys are okay with paying a little bit more as long as it’s a local company that’s supporting a local environment, you know, the tax money is coming back to support a local city, and if those companies share in your values, being sustainable and trying to build a better Earth and planet for the future, those are things you guys identify with.
Awesome. So as you can see, Millennials are here to stay. They are going to be the biggest buying and purchasing power demographic for a long time, so it’s important for us as brands to know how to communicate with them, how to share with them and market to them so that they will support our businesses.
So let’s wrap up with a few bullet points.
One: companies are becoming more transparent.
They are better for consumers with particular needs.
Two: companies are changing their formulations and methods.
And better for consumers’ health.
Three: companies are shifting to sustainable practices.
They’re better for the planet.
And four: companies are taking a stand on social issues.
And better for society.
Well, with that, thanks for tuning in today to talk with Devon and I about Millennials. We hope you got some valuable information out of this. And with that, we’ll leave you with a quote.