We’ve heard the stereotypes of young Millennials. But is there any truth to them?
According to CEB Iconoculture, this generation isn’t all YOLO, all the time. They’re not frivolous or irresponsible in their attempt to live for the moment. And when it comes to adulthood, they’re definitely not delayed.
In fact, values around the idea of letting loose, like freedom and fun, have actually lost ground with this group. Meanwhile, values like learning, responsibility and purpose have gained traction.
Who are young Millennials?
This generation is classified as people between the ages of 20 to 28.
What’s on their mind?
Believe it or not, young Millennials are thinking more about their money than the rest of the U.S. population. They’re determined to be thoughtful and strategic with their salaries, which is likely a need that stems from their overall anxieties.
Professional issues (everything from employment to retirement) keep this chronically-stressed cohort awake at night. Pressures like debt and instability caused 72 percent of them to say they’re always concerned about having enough money. And today, three quarters of this population say they would rather save it than spend it. But it’s not just talk… they’re putting thoughts into action. One in five are putting more than half of their income directly into savings.
What’s their mood?
Compared to older generations, a greater number of younger Millennials are dealing with negative moods in their daily decision-making. Of course, economic hardship and the fight for a stable future affect all consumers, but according to CEB Iconoculture, this group is the most worried. In fact, close to one third of this generation regularly experiences feelings of nervousness, guilt and fear.
How can brands connect?
When a brand can recognize who a young Millennial really is, and then support them in their unique life stage, they’ll win. Content that’s realistic and aspirational, rather than condescending, will always be more well received.
Try these three tips to market to young Millennials:
Acknowledge they are growing up.
This group coined the term “adulting.” And they’re proud of it. Whenever possible, your brand’s messaging should reward it. Consider Heineken’s “Moderate Drinkers Wanted.” It puts a spotlight on young adults who don’t overdo it.
Empathize through non-judgmental humor.
Life is tough, especially when you’re young. Putting your brand in a position to empathize with their reality can provide an emotional refuge. Translation? Laugh with them, not at them. For example, the American Express campaign, “Everyday Congrats,” pokes fun at overcoming real-life challenges, while still being respectful of the growing-up process.
Develop products and services that encourage and assist.
The best way to show you understand this audience? Try creating something that makes this chapter of their life easier. Apps or websites that can help people live a more productive life will make you a more favorable brand. Streaks, for example, branded their app as “the to-do list that helps you form good habits.” It’s gained popularity, thanks to the encouragement it offers.
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