How does this impact you?
This isn’t new information. Millennials are not into material things. (Sorry Madonna.) Sure we still enjoy our Starbucks and Amazon products like anyone, but I proudly speak for Millennials everywhere when I say, we are not strictly material girls in this material world.
This may sound false but when you think about it, it makes total sense. We have already been labelled as spoiled because we have had multitudes of ‘things’ available to us. As we’ve grown up, we have learnt about the lack of purpose in our extravagant things.
Does this statement threaten your business?
We have found worth in our experiences! Don’t bother telling us we won a TV or a Michael Kors bag. Instead we want to win the trips to warm places, a weekend away in the mountains or a free meal at a unique restaurant. Pretty much anything that is worth being Instagrammed.
A trip overseas, concerts, charity events, parties, road trips, extravagant group dates, (or less extravagant like McDonald’s) are all experiences that we can do with friends. There are also dates like pumpkin carving, skating, picnics, a day at the river, bowling, mini golf, the list goes on. Sharing experiences with people we love is much more appealing especially when large amounts of money are not always needed!
Yes, sometimes our experiences do cost money… a lot of money. But with our lack of care about brand names we can get everything we want without breaking the bank. I for one, shop at the thrift shop whenever I can as I know I can find my needs and some wants without breaking the bank. And trust me, my wardrobe is still full of beautiful clothing pieces. Because I shop at thrift stores, I am able to save up for the things I value more than brands, like overseas trips.
My friends bought cheap toy guns that fire foam darts so we could have battles in their apartment rather than perhaps purchasing a brand new TV. (An example of adulting at it’s finest.) And what do we get out of our childishness? We have awesome stories to tell and memories that will last a lifetime. Yes their TV works less than great but they don’t need a new one so why would they buy one now?
The experience outweighs the material.
My examples of today’s biggest craze really does seem much less superficial than the picture painted of the roaring 20s or Madonna’s song, but is it? Well yes having less and appreciating more is beautiful. I am just not convinced that we as humans have changed so that we no longer wish to be better then the person next to us. I think this because of the nature of Instagram.
We still feel the need to post all of these experiences. Is it just because we want grandma to know we spent our birthday on an amazing road trip? Or to tell your mom you are being safe at the concert? Of course not. We post so that we make sure everyone knows where we are, what we are doing, and that we are #blessed.
Marketing to millennials requires a promised experience. Does your product have a cute label worth being Instagrammed? Is your office space welcoming and trendy? Is your shop current and appealing? What about your website, is it simple to use and engaging? Have you managed to market your product through word of mouth and social media? I hope that you can answer yes to these questions if millennials are your target market. If you can’t say that your business thrives in these necessary categories, I suggest making some upgrades that are sure to improve your company’s overall position.
I love that more of us are working to gain experiences over the material things. I hope that this trend will never die as it is fulfilling and fun!
What changes have you made to better market to millennials? What experiences have businesses offered you to make you appreciate their business?