I stole this magazine from the doctor's office while waiting for blood work. I had already waited an hour for the doctor after they had called me two days prior to ask me if I could move my appointment up an hour. I figured they wouldn't miss the magazine. Since I sell to more and more Millennials these days, I need to know what will attract them to buy health insurance. Just as I had guessed, nothing.
John Bonini at Impact Branding & Design wrote an interesting blog entitled "What you need to know about marketing to Millennials" as a result of the Time article. He interviewed other Millennials (Born 1980-2000) to
get their take on the topic. Here are their thoughts compared to my Baby Boomer (Born 1943-1960) perspective:
1)
They do everything online. OK, have you seen my Facebook, Twitter, LinkedIn, Google+ and Blogspot? We invented online; of course, we love it, too. The big difference is we go online either for work or play. We do not "live" online. I am not even sure that is possible unless you are an avatar. Most Baby Boomers are still trying to work at important jobs earning real money so they can retire someday. That means we have to "live" in the real world not the digital one.
2)
They don't read mail, newspapers or watch ads on TV. Who does anymore? Next.
3)
They won't buy something unless they need it and it is recommended by someone they know. Like you really, reaaaalllly needed that iPhone 5 because 800 of your 1000 Facebook friends had one. So, your mom bought you one and put it on her plan. Right, got it. So, in reality I need to be marketing to your mom who is probably a Gen Xer (Born 1961-80). It is odd to me when an adult employee tells me they need to check with their mom before they can buy $3 of life insurance. Do you check with your mom or your Facebook friends every time you feel a need to buy a Starbucks? Maybe it is because we have delayed the maturation of Millennials to the point where they can't think of why they would need life or health insurance. I got married when I was 19. Had a mortgage at 22 and a baby at 23. We had to delay purchasing things we wanted in order to have the things we needed. The idea of asking for recommendations from friends and family is a good idea but not a new one. Relationship selling is an old concept. I agree with Millennials that people buy from people they know and like.
4)
They get angry if they are not marketed to how and when they want. One Millennial said, "Make it relevant to
me and
my needs and interests." I can sometimes get annoyed by advertising but angry? Haven't you heard, "The only one that can make you angry is you?" See, it is all about YOU. If the Internet is so central to your life that an ad can make you angry, perhaps it is time you stop "living" on the Internet. My advice to Millennials is the same as I would give to a depressed Baby Boomer, stop focusing on yourself and start giving back to others. Get out and get your hands dirty planting an urban vegetable garden or building a home for the needy.
5)
They want marketing by companies that make a difference. This
me and
my focus is interesting because Millennials also want products they buy to "make a difference." Have you noticed how many products have a "charity" ingredient? Perhaps this is how Millennials can have their cake and eat it, too. Our local chamber of commerce has an annual race to support, uh, the chamber which receives no public funds. The race took off in popularity only after a small portion of the race fee was donated to a charity. As a Baby Boomer, I will freely give hundreds of dollars a year to several charities that I select. I don't need or want a corporation deciding who will receive donations based on me buying a pink spoon.
In summary, human beings are not that different when it comes to buying stuff. We all want to know and be known. This is probably why everyone enjoys shopping on Amazon and never admits to shopping at Wal-Mart. Amazon calls us by name and knows what we have bought and what we want to buy. They will even gift wrap it for us and send it to our dad's address. We want to feel like we are smart and capable of making good buying decisions. We want to feel important and do something important. It made my day to see that Google had changed their search logo to celebrate MY birthday. The market never changes just the methods. We are not so different, you and I.