MARKETING MATTERS
phase of their lives. The future of businesses
depends on our ability to adjust our process-
es to meet the needs and expectations of the
millennial generation.
Notice I said processes. I didn’t say values.
You don’t have to change the core of your
business. Don’t have to change who you are.
Millennials value the same thing that you
value.
They value family, honesty, transparency
and a job well done. At the root Millennial
values mirror Boomers’.
Remember Boomers initiated the Wom-
en’s Rights, and the Civil Rights move-
ments. They were purveyors of change.
Change that needed to happen. Millennials
are the next purveyors of change. Change
that needs to happen now.
So if a 21 year old millennial and a 21
year old Boomer had the opportunity to
hang out they would be stealing street
signs together. But as it happens one’s
learning life’s lessons while the other is
bailing them out of jail.
Adjust Processes to Meet
Millennial Demands
You don’t have to change the core of your
business to satisfy Millennials. You may
however need to adjust your processes to
meet their expectations.
The biggest difference between
millennials and boomers are two things:
1. The way they intake information
is different.
2. Their expectations are different.
The way they intake information
is different.
Millennials use technology to communi-
cate. We all know that. And they have little
patience. They were raised in an age of im-
mediate gratification amplified by the Inter-
net, and cell phones.
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“I honestly believe if
Boomers and Millennials
were the same age
they’d be best friends.”
Their expectations are different.
They have expectations of themselves, their
lifestyles, the people that they work for and
with. As they move into the heavy spend-
ing phase of life they are also moving into
managerial roles within companies magni-
fying the impact they have on the way we
do business.
Millennials just don’t have the patience to
deal with crap that could be better, or just
isn’t right. Lack of patience can feel like a
lack of loyalty. While that makes us cringe
it can also translate into a business opportu-
nity. They won’t stick with a company that
does a terrible or even a mediocre job. Forc-
ing a survival of the fittest.
Embracing Technology to
Improve Processes
As the 90’s technology boom set in all people
could talk about was technology overtaking
everything. I’m sure people felt the same
way in the industrial revolution. I remember
sitting through Rotary talks and listening to
the old timers say that technology was going
to kill the honest business.
I didn’t think so then and I don’t think
so now. Companies that meet Millennial
expectations are the honest businesses who
have embraced technology in their processes
[22]
but remained true to their values as a com-
pany. Millennials want more than any other
generation to make the world a better place.
Strong core values draw them to a company
and the experience of working with a com-
pany is what makes them stay.
Be open to change, don’t change what
makes you great.
I want to clarify, I’m not saying that you
should just go out and change just for the
sake of change. I’m saying be open to change.
Look for the squeaky spots in your process.
The ones that aren’t running the way that
they used to run and aren’t nearly as success-
ful. Then turn to technology for a solution.
Allow the things that aren’t working well to
act as opportunities to push you to deliver
on the expectations of the Millennials.
Evolving Your Marketing Process
Now as for the inner workings of your com-
pany and all of the processes that make it
tick...I am not qualified to advise on all of
them. But one that I can advise on is mar-
keting.
Marketing is a process within your com-
pany that is evolving rapidly and needs to
meet the expectations of millennials, both
from a hiring perspective and from a sales
perspective. It may be a process you’re strug-
gling with evolving or it might have tabled
for a squeaker wheel.
Even if you don’t feel it at this very minute
the tides are changing. You may not need
to reach out to this younger demographic
and have a conversation with them right
now. But at some point you will. And just
like your retirement, you can’t wait until
you’re 65 and taking money out of your in-
vestments if you didn’t put anything into the
account to begin with.
Building your brand and your marketing
audience works exactly the same way. You
have to invest in them. Even if it’s just a
small amount right now, so you can cash it
in when you need it.
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