The Old Millennial: Oxymoron or Opportunity?

5-15_blog146We have all been hearing it for years now—Millennials have changed everything. The way they shop, work, do business, behave online. It has disrupted B2C and B2B industries alike. And who are these disrupters?

Google and Getty implies they are jeans- and beanie-wearing, iPhone-addicted narcissists. Thousands of infographics expand further to illustrate the picture of Millennials as digital-savvy stewards of social and philanthropic causes. And while these may be two sides of the same coin, the idea that a generation that spans a 20-year-period starting in the early 1980s could be boiled down into such simplification is a missed opportunity.

Full disclosure: I am a Millennial.

I didn’t realize it right away, despite my appreciation of social media and good causes (and yes, beanies too). The idea that I am in the same segment as several twenty-somethings I know to be hipper than myself and so much of that “early career” audience we so often target didn’t click.

I recently stumbled on an article by NY Mag of this feeling that nailed it for me—

“Old Millennials, as I’ll call them, who were born around 1988 or earlier (meaning they’re 29 and older today), really have lived substantively different lives than Young Millennials, who were born around 1989 or later, as a result of two epochal events that occurred around the time when members of the older group were mostly young adults and when members of the younger were mostly early adolescents: the financial crisis and smartphones’ profound takeover of society.”

So what does this mean for business?

It means targeting “old millennials” separately is worth considering in many instances. Take financial services, for example, an individual in her mid-thirties is very likely a much different banking consumer than one just starting her career. The financial crisis and our relationship with technologies, as well as life stage, are all huge factors in decision-making and motivations in financial decisions. While both may be very interested in seamless mobile transactions, the types of products, and why they choose a bank, and consideration on further products such as investments is all very likely swayed by your marketing strategy a great deal.

Thinking about your customers for how to make the most of these differences, and the similarities, is what CustomerThink is all about. Want to talk more about how it can work for you?

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *

The Old Millennial: Oxymoron or Opportunity?

5-15_blog146We have all been hearing it for years now—Millennials have changed everything. The way they shop, work, do business, behave online. It has disrupted B2C and B2B industries alike. And who are these disrupters?

Google and Getty implies they are jeans- and beanie-wearing, iPhone-addicted narcissists. Thousands of infographics expand further to illustrate the picture of Millennials as digital-savvy stewards of social and philanthropic causes. And while these may be two sides of the same coin, the idea that a generation that spans a 20-year-period starting in the early 1980s could be boiled down into such simplification is a missed opportunity.

Full disclosure: I am a Millennial.

I didn’t realize it right away, despite my appreciation of social media and good causes (and yes, beanies too). The idea that I am in the same segment as several twenty-somethings I know to be hipper than myself and so much of that “early career” audience we so often target didn’t click.

I recently stumbled on an article by NY Mag of this feeling that nailed it for me—

“Old Millennials, as I’ll call them, who were born around 1988 or earlier (meaning they’re 29 and older today), really have lived substantively different lives than Young Millennials, who were born around 1989 or later, as a result of two epochal events that occurred around the time when members of the older group were mostly young adults and when members of the younger were mostly early adolescents: the financial crisis and smartphones’ profound takeover of society.”

So what does this mean for business?

It means targeting “old millennials” separately is worth considering in many instances. Take financial services, for example, an individual in her mid-thirties is very likely a much different banking consumer than one just starting her career. The financial crisis and our relationship with technologies, as well as life stage, are all huge factors in decision-making and motivations in financial decisions. While both may be very interested in seamless mobile transactions, the types of products, and why they choose a bank, and consideration on further products such as investments is all very likely swayed by your marketing strategy a great deal.

Thinking about your customers for how to make the most of these differences, and the similarities, is what CustomerThink is all about. Want to talk more about how it can work for you?

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *

The Old Millennial: Oxymoron or Opportunity?

5-15_blog146We have all been hearing it for years now—Millennials have changed everything. The way they shop, work, do business, behave online. It has disrupted B2C and B2B industries alike. And who are these disrupters?

Google and Getty implies they are jeans- and beanie-wearing, iPhone-addicted narcissists. Thousands of infographics expand further to illustrate the picture of Millennials as digital-savvy stewards of social and philanthropic causes. And while these may be two sides of the same coin, the idea that a generation that spans a 20-year-period starting in the early 1980s could be boiled down into such simplification is a missed opportunity.

Full disclosure: I am a Millennial.

I didn’t realize it right away, despite my appreciation of social media and good causes (and yes, beanies too). The idea that I am in the same segment as several twenty-somethings I know to be hipper than myself and so much of that “early career” audience we so often target didn’t click.

I recently stumbled on an article by NY Mag of this feeling that nailed it for me—

“Old Millennials, as I’ll call them, who were born around 1988 or earlier (meaning they’re 29 and older today), really have lived substantively different lives than Young Millennials, who were born around 1989 or later, as a result of two epochal events that occurred around the time when members of the older group were mostly young adults and when members of the younger were mostly early adolescents: the financial crisis and smartphones’ profound takeover of society.”

So what does this mean for business?

It means targeting “old millennials” separately is worth considering in many instances. Take financial services, for example, an individual in her mid-thirties is very likely a much different banking consumer than one just starting her career. The financial crisis and our relationship with technologies, as well as life stage, are all huge factors in decision-making and motivations in financial decisions. While both may be very interested in seamless mobile transactions, the types of products, and why they choose a bank, and consideration on further products such as investments is all very likely swayed by your marketing strategy a great deal.

Thinking about your customers for how to make the most of these differences, and the similarities, is what CustomerThink is all about. Want to talk more about how it can work for you?

How can we help you make change?

There are no comments yet. Be the first and leave a response!

Leave a Reply

Your email address will not be published. Required fields are marked *