The entrepreneurial nature of the Millennial generation (those born between 1980 and 2000) is stunning! Millennials have disregarded the life and career flowchart that was so formally laid out by the Baby Boomers. But Millennials aren’t keen on waiting. It isn’t in their DNA. They don’t wait for taxis, they take Uber. They don’t wait for emails, they text. They don’t wait to work up the corporate ladder, they start their own business.
Everything is about today. The moment. The instant. The Millennials are an on-demand instant-gratification generation that has become emboldened by technology and molded by world events. A study released in summer 2014 found that 94 percent of Millennials are interested in putting their skills to work to benefit a cause. More than half wished their employer had more programs engineered for giving back! Some say they’ve become the most prized (and perhaps feared) consumer group of all time, and their habits are surprisingly different from past generations.
Consider the findings from the 2015 Millennial Impact Project:
-84 percent of Millennials made a charitable donation in the past year, and 70 percent volunteered for a cause.
-48 percent of Millennials have donated to a giving campaign promoted by their employer at some point.
-Millennials are 27 percent more likely to donate to a cause if their manager does, but 46 percent more likely to donate if a coworker asks them to.
Millennial employees find value in using their pro bono skills for good. Most Millennial employees volunteer between one and ten hours a year.
-77 percent of Millennial employees are more likely to volunteer if they can leverage their skills
The question is how to get them to spend on your brand? Businesses should be aware of the importance of making digital media their first line of attack when targeting this generation of entrepreneurs. You have to meet them where they are! And thanks to shrinking attention spans and DVR, they aren’t at TV commercials or radio ads. They’re on their phones, computers, and various social media platforms. Furthermore, the marketing message for Millennials is more important than ever. Everything needs to be relevant, interesting and, most importantly, shareable.
Because of Millennials, companies are changing the way they produce content, reach potential buyers and market their business. Have you adapted to their trends?