Millennials are on the rise. What does this mean for business? Well, they like two things: being successful and knowing technology. So how can your business capitalize on this?
Think website builders. Many people are not as tech savvy as they would like to be. But, for example, products such as Squarespace and WordPress allow even the most basic of users the ability to create and manage their own website.
Information is everywhere, but a client chooses their vendor based on who they like the most. Remember, first the entertainment, second the information, and third the craft. Think of informational YouTube video on how to tie a tie. There are many videos out there, but the videos that are the most entertaining and exert “expert in the field” are watched the most.
Millennials are known to work differently than Baby Boomers. Baby Boomers have literally paved the way with brick and mortar businesses. Millennials are now paving the way by finding creative ways to do their/a job better. Along with the increase in technology, Millennials are reinventing how marketing, sales and business practices.
Health. Well, it’s always been important. Millennials are paying more attention to their health than ever. With systems like Fitbits and other fitness and nutrition tracking devices and programs, fitness apps and software are also on the rise.
This may not come as a surprise to you, but e-commerce is still on the rise. Mix online shopping with increase online advertisements and social media is continuing to drive up sales.
Millennials like connecting. So instead of selling a product or service to a customer, connect with them. Monopolies are hard to come by in many industries, so it’s easy for consumers to shop almost anything they want around. If they don’t like a company, they’ll explore the next one. Think Postmates or Lyft. Neither company actually has any end product or service, but they connect consumers to what they need instantly.
Millennials are informed about how they spend their money. They also are more conscious about which companies are environmentally and socially conscious. So, “go green!”
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