The internet is filled with think-pieces about the millennial generation. Often, these writings express previous generations’ confusion at the behaviors and values of millennials. However, marketing leaders who have spoken with Loyalty360 seem much less baffled. This is probably because they understand that consumers across the age spectrum have similar expectations (e.g., personalization, corporate social responsibility). It’s just that these changing expectations are amplified in younger audiences.
All the same, we do occasionally hear of a challenge from some marketers, particularly those employed by legacy brands, who’ve found that they need to re-tool approaches and strategies to reach millennial consumers. Given that challenge, any information on today’s young adult consumers could prove useful.
Gui Costin, CEO of the investment services company Dakota, has announced the publication of Millennials Are Not Aliens: ...but they are 80 Million Americans Who Are Changing How We Buy Sell, Vacation, Invest, and Just About Everything Else. The book is published through ForbesBooks, the business book publishing imprint of Forbes.
Millennials have adopted new habits that are likely to live on for generations to come. In his book, Costin provides examples of the sea change taking place and gives actionable advice for those hoping to evolve with the times. His book was designed to help various industries understand the habits of this next generation, and how to adapt to them.
“The buyers we once knew have morphed into millennials. This book is a shortcut for those hoping to make the buying process more efficient while at the same time appealing to this new buying behavior,” Costin said.
The book contends that many industries, especially those in the investment space, are not keeping pace with the manner in which millennial clients and consumers build relationships with companies.
It would be interesting to see if the book has any advice on demonstrating value to consumers in an authentic manner. Several brands in recent times have attempted to take up social causes in an effort to appeal to millennial consumers, only to find that their efforts did not resonate with consumers due to a perceived lack of authenticity. Many leaders believe this is a communication issue, while others believe choosing the right values to amplify is the real challenge.