With the successive retiring of the baby boomer generation, a new type of customer is going to dominate marketing in the future.
The buyers of the millennial generation spent $27 billion in 2014 on furniture and bedding, which is 142% more compared to 2012, according to Furniture Today’s Director of Research, Dana French, in a recently published analysis about the shift of generational buying power in the last years. http://www.furnituretoday.com/article/518483-consumer-buying-trends-boomers-buying-power-decreases-17
There is common agreement that this generation will be a driving force in sales and marketing in the next decades, but it seem like there are blank spots and uncertainties regarding the way to work with this new kind of customer.
One goal of the Jazzy Jobber is to provide a platform for the millennial buyers. In this post I will discuss main characteristics of this generation and how to engage them.
- Connections and being connected
The most obvious attribute of the people born between 1980 and 1997 is that they are connected like no one else ever before. They are connected with modern online technology most of the day and also connect with everyone around them. They are called the “Connected Generation”.
Besides close relationships to family, friends and colleagues, there are a large number of loose connections. These are relationships to people that are pretty unknown, at different locations, or with different backgrounds , who share a common interest online like a hobby, a sport or a craft.
“Succeeding in business is all about being connected”
Richard Branson
Companies will benefit when they are building ongoing relationships with their millennial customers and their activities, passions and interests. People are not just buying products of brands. They are interacting with them more deeply, and join them in a new form of community.
Especially female customers and their dominance of social media can support brands in building a network of peers around the brand. Referrals are the key for the expansion of brands.
The Jazzy Jobber is offering a platform for communication and exchange of information.
It is important to stay in touch with our friends and listen to them.
- Moments of truth
People are searching for new ways to define and express themselves. People are actively seeking the moments of truth, where they can be in the spotlight, where they can get recognition, when they can face their personal limits.
Millennials try to escape daily life by learning and doing new things or seeking the middle of an arena and telling the whole world about it. Think of casting shows, talent shows, reality TV, YouTube videos, blogs and online forums.
“Nothing is impossible – The word itself says I’m possible”
Audrey Hepburn
Access to information in form of online courses, webinars, e- books and so on, has never been so accessible and inexpensive. And it has never been offered in this amount.
Today it is possible to be an active part of a design development, a manufacturing process, or a distribution channel instead of just being a passive customer.
The Jazzy Jobber wants to encourage this movement. Through intensive communication I want to promote personalization, customization and participation.
Moments of truth are also the need to support charitable purposes. There’s a new form of volunteering and community contribution. The millennial generation is donating more of its time to charity than any other generation before.
- Emotional experience
Consumers today have abundant choices. So the buying experience often becomes more important than price or service. The customers want to feel that the brand has anticipated their needs, solved their problems, and provided excellent service.
“Life is a very emotional experience”
Tony Goldwyn
The relation between customer and brand becomes personal. The values and personalities of the brand are part of the product or service. The customer wants to find brands in which he can believe in and make him feel good about himself.
The Jazzy Jobber wants to find out what moves the community and how products can relate to emotions.
What is it, that moves a product forward?
- Integrity
The customer today is fed up with marketing, advertising and endless offers. Product referrals become more valuable. The classic “Push Marketing” (Buy now! Buy cheap!) has lost its appeal.
Large organizations increasingly have to fight for their credibility. Small, hands-on organizations gain support and sympathy.
“Integrity is choosing your thoughts and actions based on values rather than personal gain” Found on Pinterest Board Integrity
The customers are asking more questions not only about the product itself, but where its from, who made it, is it healthy and is it ethicaly acceptable. Everything matters- No secrets- No hiding behind curtains.
Consumers can easily sniff out fake blogs and products that don’t stand up to claims. Products and advertising get a new standard. Everyone is accountable!
The Jazzy Jobber does everything to ensure the credibility of the companies it works with. These companies enjoy my personal trust and I feel responsible for every promotion on this website.
The Jazzy Jobber wants to create a community that trusts and supports itself.
Sources:
Lisa Johnson (2006):
Mind your X’s and Y’s : Satisfying the 10 Cravings of a New Generation of Consumers (2006)
Prosumer report: Millenials
http://www.prosumer-report.com/blog/wp-content/uploads/2011/04/MGv16no%20crops.pdf
