Why Millennials don’t exist…
Plenty has been written about Millennials. Unrealistically ambitious, lacking work ethic, and a little self-absorbed say some. Confident, open-minded, and tech savvy say others… Whether accurate or not, it seems like a lot of generalisations are used to describe Millennials. Are they really all obsessed with smashed avocado? It got me thinking….
Of course, Millennials (or Gen Y as they were originally known) do actually exist – there are plenty of academics out there including Howe & Strauss who have contributed much to understanding this cohort born between 1981 and 1996 (although this definition is also subject to some debate!)
As the Millennial generation have now all reached adulthood (with the oldest being in their late 30s), they are the latest wave of consumers with disposable income to interest marketers, so understanding them has become something of a ‘holy grail’ for most brands.
So is it really as simple as targeting an age-based demographic that covers some in their late 30s with a young family, as well as some in their early 20s fresh out of university?
Would you promote your product to Usain Bolt in the same way you would to Seth Rogen?
Would Serena Williams be likely to engage with your offer just the same as Britney Spears?
Probably not. Yet each of these individuals are Millennials… In our rush to engage the latest generation have we focused a little too much on how we connect with them rather than on delivering to their specific needs?
Each generation has their nuances and this one is no different. Key moments in time such as the internet, dual-working parents, and depletion of the ozone layer (to name a few) have all significantly influenced and moulded the thinking and behaviour of Millennials. But do these societal trends impact the core needs of individuals when it comes to engaging with brands?
Understanding the general characteristics of the Millennial group is a useful starting point, but we need to drill deeper into the various segments that exist within this cohort if we are to connect effectively with them. Millennials are made up of a number of different segments, each with unique needs and expectations. What’s more is that at a strategic level, these segments are a lot like those of previous generations.
Think about certain Millennials consumed by social status… But weren’t some baby-boomers as well? Paris Hilton could easily have swapped birthdates with Ivana Trump (remember Donald’s first wife?)… Mark Zuckerberg is a great example of a Millennial driven by continuous innovation, but then so was Steve Jobs who was also a baby-boomer. And while Tim Brown of Allbirds (and All Whites) fame embodies a Millennial sense of purpose, Anita Roddick was forging a similar path much earlier through her Body Shop business. And all Beyonce’s ostentatious flaunting of success would be hard to match the original ‘material girl’ – Madonna…
Sure, Paris, Mark, Tim and Beyonce have been able to use newer technology to achieve their goals, but in reality, what makes them tick isn’t that different to those of earlier generations. It’s much the same with marketing a product or service. There are a range of enduring consumer needs that underpin any category, regardless of age. A 30 year-old motivated by ‘seeking adventure’ is probably more similar to a 50 year-old that shares the same motivation than another 30 year-old that is driven by ‘feeling secure’…. it’s just how we engage them that differs – where the 50 year-old may be more receptive to a guided tour, the 30 year old may be more interested in backpacking themselves. But they both book a trip to Vietnam…
Being a Millennial is just a quirk of the date you were born. Understanding core needs of the different segments within the cohort of Millennials is what will unlock the spending power of this generation. So let’s stop trying to sell smashed avocado to all Millennials, and try to understand who they really are.