Move over, Boomers. You may have more money (for now), but Millennials have more people. According to the U.S. Census Bureau, Millennials now represent more than one-quarter of the nation’s population with 83.1 million people, compared to 75.4 million Boomers. And in a short time, Millennials will be the generation with the most financial pull.
Source: Money Matters: How Affluent Millennials Are Living the Millennial Dream, The FutureCast
That being said, how do brands attract this ever-so-illusive generation? Easy. Understand their wants and needs, and make their lives easier by solving an everyday problem. Some people say Millennials feel entitled, but there’s definitely more than what meets the eye. For example, Millennials…
Here are a couple of brands that are doing it right:
Starbucks Mobile Order & Pay
Who doesn’t love a pumpkin spice latte on a cool fall day? Okay, maybe that’s just me. But what happens when you’re in a hurry to make it to work on time and can’t afford to sit in the drive-through for 20 minutes? You order ahead, obviously. And with Starbucks’ mobile app, you can have your favorite beverage or snack waiting for you. With no added cost, it’s a no-brainer.
Now that we’re living on our own, we’re faced with a new challenge. Cooking. We grew up loving mom’s home-cooked favorites, but we don't have the time (or, frankly, skills) to whip up pan-seared scallops with mushroom risotto from scratch. That’s where Blue Apron hit a home run. They deliver original recipes weekly, with pre-portioned fresh ingredients, straight to your door. So easy, my husband could do it.
If you’re hung up on where to start, there are three marketing objectives you should focus on right away to attract this demographic:
Let me know: What other consumer-facing brands do you engage with because of their ability to accomplish these three goals?