This means that companies have to adapt in leaps and bounds to design new products and create services that adapt to 2.0 consumers.
Marketing strategies are also affected and even new departments are created to cover those needs that did not exist before. This is where Millennials come in, the trendy generation that everyone wants to target.
You've probably heard of them, but who are they? How do they behave? Where do they move?
The term " Millennial " first appeared in August 1993 in Advertising Age magazine, which used it to describe the teenagers who followed "Generation X." Unlike their parents, most members of Generation Y grew up in an era characterized by economic prosperity in Western societies.
Below, I'll give you some basic guidelines so you can speak with authority and distinguish between the different generations that exist in order to develop the perfect marketing strategy.
Baby Boomers (1946-1964)
They are between 50 and 68 years old approximately. They are the post-war generation that initiated what is known today as consumerism.
Work is very important to them and they are loyal to their professional life, since they spend most of their life working in the same company. They are considered to be the first television generation.
Their Internet behavior is increasing, although they continue to listen to the radio and read the written press.
Generation X (1965-1980)
They are between 38 and 50 years old approximately. They are likely to be employed and 2/3 are married with minor children.
They are the precursors of the Digital Age. They often use social media to be part of a community and share fun content.
The social network they use the most is Facebook. purchases or search for information.
Generation Y (1981-2000): Millennials
They are between 18 and 36 years old and have great academic aspirations. They adapt to changes and like to travel. They cannot imagine their world without technology. They are called Millennials because they are the generation that came with the turn of the millennium.
Their behavior on social networks is marked by the visual and they prioritize those that use the mexico mobile phone numbers database image as a priority channel to transmit, such as Instagram or Snapchat.
They prefer brands that are active on social networks and use them to make a decision in a purchasing process and for the purchase itself. A mobile phone with an Internet connection is a priority for them.
And since I started talking about them and their importance as consumers for companies at the beginning of the article, what are the work priorities of millennials ? In the workplace, they are a generation with university degrees, although with temporary or internship contracts. They are not afraid to change jobs and become part of the hierarchy in decision-making.
There are 3 factors that prevail when choosing where and how to work:
Money : They want to be fairly rewarded for their efforts. 53% of millennials would consider leaving their current job due to a lack of financial or personal recognition.
Job stability : they seek the security of a full-time job that guarantees they can maintain their lifestyle. Young people see jobs related to their studies as a springboard for personal growth, rather than a job for life.
Free time : flexibility to take breaks to recharge their batteries from time to time and to further their training. Millennials are willing to spend their time and money on acquiring new skills.
In the professional field, Generation Y is in favour of the "Gig economy" , which consists of hiring someone for specific projects in which the worker provides everything necessary for the activity.
An example of this trend is BlaBlaCar, a company that operates in the passenger transport sector without cars or drivers. It only deals with putting drivers and passengers in contact, ensuring that the service is carried out.
For now, few companies dare to take the risk of changing old working patterns, such as the idea of productivity subject to a fixed schedule and rewards that do not take creativity into account.
Companies are not taking advantage of the qualities of millennials, who are looking for innovative companies that will embrace them with new practices and ideologies.
Generation Z (2000-Present): Boomlets or Digital Natives
They are born in the digital age. They have computers, television and smartphones. They do not know the world without the Internet.
They have not yet entered the labour market and dream of having their own company and having fun. They want flexible jobs to combine professional and leisure time.
The percentage of social media use in this generation is high, although they prioritize those where they cannot meet the Baby Boomers and X generations; for this reason, they use Instagram more than Facebook.
Most of them use YouTube to complement their education, to entertain themselves or to share videos, and they do so on a weekly basis. They are more multi-platform users than millennials.