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What Do Millennials Want from a Business?

Jun 26, 2016 | Business Development, Business Startup, Content Marketing, Marketing, Online Marketing, Uncategorized

What Do Millennials Want from a Business?
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Numbering approximately 80 million, millennials are easily the largest consumer block since the baby boomers. As the boomers slow down on purchasing, the millennials are taking their place. But, they think differently, act differently, and place their value differently than any other consumer block in history.

Transparency

They don’t want to see long form sales pages that are full of hype. They do want to hear and see the truth for themselves. Testing products before buying them is something millennials value a great deal. If something doesn’t work as advertised, they will bring it back.

Fairness

This speaks to product returns in a big way. As mentioned, if something doesn’t work the way they believed it would, they have no problem taking it back. This sense of fairness goes beyond just returning merchandise. If you treat them right, they’ll give you a second chance if necessary. By the way; this includes treating your employees well and paying a fair living wage. If they find out you don’t, they’re less likely to want to buy from you.

They Want to Be the Star

Millennials love sharing images of themselves doing things in their daily life. They like feeling important and being the center of attention. This isn’t due to being spoiled; most millennials didn’t grow up spoiled due to the stock market crash and learning from their parents that things don’t always work out. But they love being part of something and it shows.

Sharing Is Caring

When they see a good deal, they are very likely to share it with their friends. Coupon sharing sites like Groupon and others have done so well because of this sharing attitude. They also are okay with sharing cars (Uber.com), rooms (Airbnb.com) and clothing (renttherunway.com).

Technology Is Not New

This consumer block has grown up with technology and due to that, the most they want out of it is for it to work. They don’t like it when things don’t work. They will return it in a heartbeat and don’t accept mediocracy. They expect it to work and work well and work every single time.

Socializing Is Important

Even when they’re home alone, they are socializing using social media. Millennials are really never alone. If you can make your business more social, freer, and more giving, you’ll win a customer for life from a millennials.

Collaborating and Cooperating Matters

They love for you to ask for their input. They’ll happily make YouTube videos showing the unpacking of the things they buy and they’ll give honest and excellent feedback. It’s up to you to listen to it and make the products the way they want them made.

Adventure

Most millennials are after fun, exciting and educational experiences more than they are after particular goods. They love to travel and try new food, and when they do shop they want it to be an experience in and of itself and not just a means to buy the thing they’re looking to buy. They’re okay with a little danger even, if it means having an experience of a lifetime.

Whatever you do, this buying block is going to become more and more important as time goes on. You cannot ignore them if you want to keep your business going long term. Study the audience and learn more about them. You’ll be glad you did because if you have a product that works and meets their criteria, they’ll buy it.

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