Have you heard the Term.. Get Y Will take over the work force in about 5 years time..? No.. well your behind the times. Why you ask.. it is because the baby boomers are between 51-69 right now and some many be retiring.. Move on over! Gen Y is the digital age as we have grown up with computers, laptops ,smart phones, iPads.. iPods.. etc.
I guess you could say we aren’t perfect because some will argue that we are.. lazy, self absorbed, entitlement, and We the millennial’s want to be heard loud & Clear.
Fact: Just from video marketing alone Gen Y will spend about $200 Billion by 2017 , just from companies putting together videos to capture our short attention span and will sell us what ever they want.. And more than likely we will give in and buy it. Visuals Matter…
Companies are going to have to get used to honing in on a very specific target marketing and selling to them, the money is there and also big corporations will have to listen to what we want and say… after all we are the clients.
Goldfish have longer attention spans than we do…. so what do you have to do as a company… become a media company and you automatically have our attention as that is where our mind is 24/7 anyways. As a generation that was born from 1982-1995 we outnumber the baby boomers in the workforce as of now (2015).
70% of college grads leave their first job after graduation within two years
Nearly 60% of Generation Y has switched careers at least once already
60% of Millennial’s don’t feel they make enough money.
30% of Gen Y started a business in college
By 2020 there will be 5 generations in the U.S. workforce
Way back in the days of AOL email when people read every single word of the email and they would send it to their entire list, and now people may not even open the email if the headline doesn’t catch our attention.. Why .. because we don’t have time.. Everyone values time so we (Gen Y) will open that email at a time that is convenient for us only.
If you want to hit it big with the Gen Y customers then you need to 1) Be A media Company 2) Appeal to us on multiple platforms 3) Market your product or service in the current year
Billboards, print ads, newspaper ads won’t work because we are Glued to our smartphones 9 times out of 10, We don’t read books we may flip through a magazine because a friend recommended it. But if your hoping we see your add on page 89 of a magazine.. your wasting money.
Please for the love of marketing.. STOP Marketing to us in the 1980’s.. we won’t respond to it and nor will we pull out our wallets and give you our hard earned cash.
Proper audience segmentation can help you as a marketer narrow down your ideal client and target exactly who can and will spend their money on that product/service. If your content is irrelevant to us then forget spending any money on ads.. We have to want what your selling in the first place. Being specific in your headlines will more than likely catch our attention and we will open that email or pay attention to your blog post.
We as a huge group are the most educated out of them all given the era we grew up in, with over 63% of us having a degree. But in todays day and age degree’s can be useful or they can mean nothing.. you were just a sucker who spent a ton of money on education and there are NO jobs in your industry. Now your in debt… so how do you pay that off.. you use the skills you have and the talent that comes naturally to you and use it efficiently to start your own business.. Hello Entrepreneurship.
Even with education we hate sitting in classrooms and listening to old professors talk for hours.. we just don’t have that kind of time. We want more flexibility when it comes to educating us on old systems that are no longer valid.
The same goes for the workforce as to why we want classrooms to be virtual and we also want our workstations to be virtual as we like to travel..
Being stuck in a 9-5 is detrimental to our health these days or at least that’s how we think of it, as we are full of ideas and ready to move on once things get boring for us and we are always on the move.
We will choose flexibility over pay and before you say anything.. That money is king.. but its not because our time is more important to us. Most of us would rather work 8 hours than 12 hours and make more money.
If your company isn’t on the same page with social media and isn’t encouraging it than forget hiring Gen Y’s, because that is where our attention is.
“To keep Millennial talent, rethink your current company culture and find ways to infuse more flexibility, technology and social-ness…otherwise, be prepared to pay the price” .
Why not create your company to appeal to the millennial’s because that is where the job market is going and you will have some great employees who are social media savvy and can work remotely and you don’t need to have the office space for them to work and more than likely they will be more willing to work for you if you just give them a few things they want and are used to having in their lives daily.