Whether you criticize millennials for being entitled, fickle and high-maintenance or praise them for their ability to think outside-the-box and make big ideas happen, the fact is that all business owners need them as either employees or customers.
Don’t want your business to die with the boomers? Then, get to know Generation Y, a generation of spenders and change-makers!
5 Important Characteristics of Generation Y, the “Millennials”
Understanding the characteristics and the consumer DNA that make Generation Y unique will help you identify ways that your business can provide value to them through products, services and of course, CONTENT! After all, providing value is the first step to gaining customers.
TIP: Use this information to help you get to know your target audience!
1. Tech Savvy
Millennials grew up with easy access to computers, constant connection to the internet, and smart phones in-hand. They’re accustomed to using technology in every part of their lives and fully believe in its power to make their lives easier. You could even say that they’re intolerant of companies and individuals that aren’t equally as savvy.
What’s this mean for you as a company looking to engage and serve this demographic? Make sure your company’s website and mobile site offer a simple, efficient experience. Look through your sales workflows and product offerings, asking “how can I make working with my company easier to do online?”
IDEA: Ask yourself, is there an app for that? Is there an app that your company could create to help your customers manage their accounts?
This generation dreams without limits. They’re in search of two things – money and happiness.
What’s this mean for you as a company looking to engage and serve this demographic? Win these lofty dreamers over by helping them reach their goals with practical resources and real product solutions.
IDEA: Create a content marketing strategy that connects millennials to products, philosophies and services that help them reach their dreams. Specifically, show them how your products will help them.
Wonder why you receive resumes with five employers in less than five years? This is why! Members of Generation Y are constantly searching for the next best thing and when they find it (or think they find it) they’ll jump on it!
What’s this mean for you as a company looking to engage and serve this demographic? Don’t stay stagnate! Consistent improvement will continually demonstrate that you ARE the next best thing.
IDEA: Rework your website landing pages to not only outline the benefits of your products and services, but also to highlight how they have impacted your customers’ lives.
Instead of passing notes and calling a friends’ house, millennials grew up trading text messages and chatting online. They’re used to communicating quickly without ever saying a word. This is why they’ll rapidly respond to text and email but stare at the phone for days giving themselves a pep talk before returning a call.
What’s this mean for you as a company looking to engage and serve this demographic? Make it convenient, easy and even fun to connect and communicate with your company online.
IDEA: Offer live-chat on your website to answer any questions.
A life of instant gratification has created an extremely impatient generation of people. They’re quick to spend and intolerant of wait times.
What’s this mean for you as a company looking to engage and serve this demographic? Make it extremely easy to purchase now and receive a response or product fast. An example of a corporate solution that caters to Generation Y’s impatience is “1-click ordering” by Amazon.
IDEA: Host your support questions and answers in an easily searchable knowledge hub on your website.
Get to know the “Millennials” even further by reading these articles by two of my favorite publications:
- The Blessing and Curse of Being a Millennial by Fast Company
- Are You M Ready? by Fast Company
- The Change Generation by Fast Company
- Are You Mining Untapped Gen Y Treasure for Business and Social Success? by Fast Company
- Why Bashing Millennials is Wrong by Fast Company
- Marketers, Meet Your Future Customers by Entrepreneur
- Know Your Target Market by Entrepreneur
About the Author:
Elizabeth Ippolito is co-founder and Chief Strategy Officer of MatchStick Strategies. Find more musings from Elizabeth on Twitter, Facebook and Pinterest.