First, know this: global information and measurement company Nielsen Holdings N.V. is a great go-to place if you need to better understand Millennials. Their report Millennials – Breaking the Myths, though a few years old, is well worth skimming. They break out the group into two categories – ages 18-26, and ages 27-34, and point out the difference in median income ($25,000 and $48,000, respectively). The well-designed report (of course I would notice that) talks about who they are, their mindset, and all kinds of interesting data. You’ll even find stats about who they endorse and the numbers that have chosen to make their bodies their canvas (think tattoos and piercings).
Another good source for wrapping your thinking around this audience is USPS Delivers. It’s full of business knowledge and insights. This article unpacks the demographics in an inviting way. If you aren’t up for the read, here are a few salient points:
- Millennials crave authenticity, transparency and personalization from the businesses they patronize.
- Millennials view commerce as opportunity, not obligation.
- Millennials swear loyalty to brands based on the experiences the brand provides and the principles they value. · It takes more than a good sale to bring a Millennial to your door. When they buy something, they want their purchases to contribute to the greater good.
My takeaway on all this reading? Let’s celebrate Millennials. And based on what I heard after last month’s email, you’re with me on this.
If you’re not a Millennial yourself, think about the ones you know. A Millennial neighbor offered to shovel my driveway while I was recently out of town. Another was elected as a local state representative. Yet another founded a regional community support group. So yes, they may know how to tweet, they use their phones a lot, and they hold the secret to changing the settings on your iPad. But don’t assume these Millennials aren’t paying attention to the world around them – because they really are.
This generation is all about activism, sharing and self-expression. How can we work together to tap into what they bring to the table?