The Truth About Millennials, From a Marketing Standpoint

The Millennials, who are also known as Generation Y or Gen Y, have had a negative stigma attached to them for quite some time now.  While many have taken to the internet and other forums to complain about the perceived lack of drive of-, and the greedy, self-serving, lazy attitude of millennials, the marketing researchers are telling an entirely different story.

Lazy and Undriven? The leaders in marketing say that millennials are anything but lazy and undriven.  Nearly two-thirds of the young workforce in this country has earned at least a bachelor’s degree and those surveyed regularly report career satisfaction as one of the things that they most want in life.

Greedy? This might be the one point upon which the naysayers and the marketers agree.  Millennials do tend to be greedy and thrifty when it comes to financial matters.  But, a deeper look at the reason for this mindset will unearth the fact that the majority of millennials have substantial student loan debt.  The total debt suffered by millennials of this country, as a result of higher education, is said to be $1.2 trillion.

Lazy? Again, marketers argue that millennials aren’t lazy or unmotivated.  While some attack their regular use of social media (93% of millennials do have active social media accounts), research has shown that these young adults are using social media differently than their older counterparts.  They are actively seeking professional connections, networking with customers and clients, and proactively promoting their employer’s brands.  Millennials are also more apt to use mobile devices to respond to work correspondences after hours.

Self-Serving? To a point, of course, millennials look out for themselves before others.  However, that isn’t always the case.  51% have demonstrated the fact that they will spend more for products that are sustainable or better alternatives for the planet.  Furthermore, they are holding companies accountable, essentially demanding that they give back to their communities.  Millennials appreciate campaigns that are centered around helping others and are more apt than other generations to invest in a company simply because it has demonstrated corporate responsibility.  In fact, millennials actively seek information about brand integrity before investing in an unfamiliar company.  They are much more likely to seek out BBB reviews than any other generation.

This isn’t to say that millennials are overly serious about everything in life.  Research has found that while they don’t respond well to the use of emojis and silly hashtags in marketing campaigns, they do like lighthearted humor and are happy to share content that makes them laugh.

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