For those of you who’ve heard the term ‘millennials’ for the first time, let me give you some easy and snappy clues. Some of you were born around that time, somewhere between early 1980s to early 2000s. Lately you must have observed a lot of young men sporting some really fancy beards and moustaches, that’s them.
Some facial hair work can be so fancy that it would’ve made your great grandfather jealous if he were alive. Additionally, you can tell them apart from their distinct attire comprised of a combination of skinny jeans, half sleeved shirts, tattoos, dark sunglasses and a pair of casual shoes. It’s called the hipster trend btw. Females dig the hipster trend too with a penchant for skinny jeans, selfies, hot pants, leggings (traditional attire included), crop tops, fedoras, nail art, flat casual shoes and everything vintage.
They like to follow the latest trends in fashion, music, art and literature. They also have a voracious appetite for all the nostalgic things they can lay their hands on, even if those items were not around when they were born. So items like mason jars and vinyl records have made a huge comeback all over the world.
So, what’s the big deal about them you may think? Well, it’s 600 million and rising ‘big’ if you consider India alone. There's plenty of them around the world and they seem to share the same values. They are liberal spenders whose preferences and demands are shaping the world around us. Self-expression rules every facet of their life, whether it’s the clothes they wear or the places they prefer to hang-out at.
Businesses have begun to take cues from this highly lucrative segment. Millennials don’t want daily chores to get in their way of life, they want technology to sort things out for them. Businesses of all sorts have started queuing up on their phone screens in the form of apps. They now get everything delivered at their door step right from groceries to chauffeur driven cars. Brands that can adapt to technology as fast as them can look forward to a shared bright future.
The best way for businesses to connect with Millennials is to find better ways to accommodate them. Simply hiring young professionals born between 1980 and early 2000 won’t cut it, businesses should accommodate their ethos too. They are fiercely independent and ambitious who will put their best forward for those who understand them.
It makes sense to give them the freedom to make critical decisions for everything from marketing communications to new product development. This is because nobody else understands their generation better than them. Money is not their only motivation, autonomy and a sense of achievement is what drives them to the edge of the universe. Plus, hiring them is the best marketing and PR exercise you can undertake given the fact that they are prolific social media users. They won’t stop talking about how great it is to work for you and why you are the best brand that is out there.
The biggest benefit millennials bring to businesses is their unique perspective that can spark innovation. Innovation is a highly sought after commodity in today’s incredibly dense business environment. Don’t miss out on it.