Branding Yourself for the Next Great Generation

The Millennial Generation is changing the way businesses must present and market themselves. Raised entirely in the Age of the Internet, this generation will soon come to control much of the world’s economic and purchasing power. Brands who hope to stay in favor with Millennials must develop an understanding of how the generation thinks and behaves, as societal changes have created a group of like-minded individuals unlike any the world has seen before.

There are several key traits in Millennials which help to shape their mindset. In short, Millennials are entrepreneurial, individual, challengers, who seek access governed by an overall sense of realism and optimism. They are a generation who see problems and instantly begin seeking a solution, avoids stereotypes, thumbs their nose at authority, reaches out to leaders to support their own causes and have come to place a high value on social capital. They are, and already have, going to accomplish great things and shape the future of the world.

The Millennial segment of the marketplace is really very different from say, their parents or grandparents. Millennials are not buying items based only on name value. No longer, can a logo be counted on to drive sales.

• Successful brands like Toms present a positive impact on society at large, and are well loved by Millennials. Show that your business supports a cause besides the bottom line, and you can expect to gain traction with Millennials.
• Use social media to reach them, but do not abandon other channels of communication. Integrating traditional models with more user generated content is an excellent way to reach this generation.
• Get out there and interact with your Millennial customers. Millennials are very open to brands which show passion and value access to the creators of their products. This is a generation which loves to feel involved and social. Meeting and connecting beyond a simple ad campaign creates a sense of access that is valued by Millennials, and also allows them to feel their feedback is being valued.
• Most importantly, don’t be afraid to try new things! Get on Vine, Snapchat and other platforms and show an innovative, creative streak.

There have been a multitude of “think pieces” written over the past few months about the things that Millennials have “ruined.” A few examples include home mortgages, hard work, vacations, diamonds, political correctness, and the Olympics. Instead of bemoaning what the Millennials are doing wrong, entities must adjust to them. Every generation changes, and not always for the better. Perhaps we can blame the people of the 1950s for the rise of the suburb and further segregation of American cities?

The Olympics are a great example of refusal to adjust strategy for the younger generation. Millennials just weren’t watching Rio with baited breath, but the television presentation model has gone unchanged for years now. Everyone in the critical 18–34 age demographic consumes much of their live news and video with their smart phone, but the companies broadcasting the Olympics did very little to tap that little window in our pockets. There’s also the issue of attempting to broadcast tape-delayed athletic competitions.

Love her or hate her, Hillary Clinton has done her best to identify with Millennial voters. She has a Millennial strategist for crying out loud, and advertises on Snapchat. This level of open-minded thinking almost seems unfair considering her opponent in the US Presidential race is completely unable to come up with a strategy that does not involve thinly-veiled racism and xenophobia.

The times, they are a changin’, especially for brands and companies used to doing things one way for decades. Instead of blaming the Millennials and bemoaning their lack of interest in high-priced clothing or sporting events, find a way to connect with them. Better yet, employ them in positions typically reserved for senior leadership (there’s nothing worse than a 55-year old trying to come up with a “cool” way to approach 22-year olds). Millennials are smart, creative, and more importantly, familiar with the ways of social media and the Internet. Those companies who target them properly and respect them as the critical demographic they are will have the most success. Everyone else will be left to write one more long-winded editorial post telling the youngsters to get off their damn lawn.