Calling all Millennials. I need to pick your brains.

[Khyber53]

Step 1: Actually have a good product. If not, they will know quickly (research is sooo quick) and their friends will know even faster.

Step 2: Forget trying to be cool about a product. If you've got to try, it's going to look lame.

Step 3: Realize that your aren't going to understand them. Your job is to get them to understand you.

Step 4: Quit trying to sell them a future while the rest of the world is telling them there isn't going to be much of a one. If it isn't for today, then what good is it?

[pstall]

Great stuff. 

[Panthro]

That will be $25k. Bill is in the mail. 

[Jeremy Igo]

On 12/19/2016 at 10:42 AM, pstall said:

It seems companies are borderline obsessed with reaching Millennials yet never seem to grasp how to do so. 

Tell me. If a company was trying to sell you something or meet you where you are in terms of values and what is most important to you, how would you like to be connected with?

How do you think you are misunderstood or what assumptions are there that you just shake your head at when a biz claims to know you.

All i can offer is pie and really strange analogies.  

I had a client recently that did this for a living. Explained millennials to companies and helped developed strategy. 

In an oversimplified nutshelll ... it is this... 

 

Experiences. 

 

Generally speaking, millennials value experiences over material things. Instead of buy a huge engagement ring, a huge vacation is preferred. Less emphasis on material goods and more emphasis on how the goods will make you feel and experience they provide. 

[Panthro]

Introduce these kids to ecstacy

[pstall]

Ahh X. Im sure philly wants to gather round a fire and hear my stories on that...

 

Yeah i think there's no silver bullet but focus on intrinsic value stuff.

[hepcat]

I'm 28 so I guess I'm a "millennial"

Since we basically are the first generation to grow up with the internet we're super informed about products and reviews. Our generation relies on Amazon and Yelp reviews for everything.

The best marketing techniques don't take gimmicks or catchy jingles, it takes a quality product that is essential. Or at least, make us think it's essential. We don't NEED that new Bluetooth speaker, but the fact that it's waterproof makes me want one so I can bring it to the pool. If it stands up to the test of peer review, the marketing is easy. Hope that makes sense?

[Ja Rhule]

On 12/22/2016 at 9:07 AM, Jeremy Igo said:

I had a client recently that did this for a living. Explained millennials to companies and helped developed strategy. 

In an oversimplified nutshelll ... it is this... 

 

Experiences. 

 

Generally speaking, millennials value experiences over material things. Instead of buy a huge engagement ring, a huge vacation is preferred. Less emphasis on material goods and more emphasis on how the goods will make you feel and experience they provide. 

I spent more on my honeymoon than wedding.  Wedding 5 hours < Honeymoon 2 weeks.

Weddings are overpriced.  What do people usually remember?  The busy ass wedding full of stress and crowds of people or relaxed honeymoon full of sex and alcoholic drinks?

[Towelboy]

On 12/25/2016 at 5:39 PM, hepcat said:

Our generation relies on Amazon and Yelp reviews for everything.

Agreed. Nearly everything I buy is online. Almost all of it is not advertised.

Let's say I need a new running headlamp. Rather than get hassled at <insert box store here> and overpaying, I'll ask my running buddies what they have. I'll then go on Amazon and sort by "Prime" and "Ratings" and "Price - low to high." 

Two days later, I am using it. For the next year I will tell everyone I know that is looking for a headlamp how awesome this one is and how much I paid for it on Amazon. If the product I bought turns out to be garbage, I expect the company I bought it from to stand behind their product and either refund my money or replace it.

In essence, I want a quality product, priced right, from a company that is willing to do what is right. When these attributes are met, I will be your biggest cheerleader and the free marketing will net you new sales. If any of these attributes are faulty, I will make it a mission to negatively affect your bottom line. 

[Towelboy]

On 12/19/2016 at 3:36 PM, pstall said:

Good stuff so far. What about financially speaking? What's top of mind?

I know if you are single chances are life insurance isn't on the radar. But what about credit or debt or investing?

 

Our generation watched our parents get hosed in the market due to corporate greed. So now we are jaded by the "big banks." I bank with a local credit union because I don't trust BoA, Wells, or the others on Tryon St.

I lock my investments in low risk/low reward buckets because I fear I too will get screwed when the market tanks again (which I feel will be in 2017). 

Regarding life insurance, I went with a company that has been around awhile and was willing to offer a 20 year term policy for under $600 a year. I wanted to make sure the company was sound and reasonably priced.

Regarding credit cards, I went with a card that has the best reward program (Citi Double Cash Rewards) because I expect to get something in return for using their services.

As far as auto insurance, I went with GEICO because I have watched how the Allstate has been screwing over my parents for years without offering them any discounts regardless of their loyalty. I had esurance but when Allstate bought them, I dropped them. 

I view banks and insurance companies as coniving outfits trying to take advantage of me. So, I counter that with going with highly rated, reasonably priced offerings in an attempt to lessen the chance of getting screwed over. 

[h0llywood]

If you live out here, the preference is a 2 bedroom loft/apartment in Downtown LA, Glendale, the West Side or some other gentrified area for $3,500 a month. 

The dream of buying a home and a white picket fence are long gone.

(Well atleast not for me, I am looking for one).