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A guide for businesses and brands looking to innovate for Millennials
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WHAT MILLENNIALS
WANT 7 CORE OPPORTUNITIES
FOR BRAND INNOVATION
WHAT MILLENNIALS WANT !
We have identified 7 innovation opportunities based on a
signature set of Millennial needs, desires and expectations as
defined by robust, peer reviewed research (not just our opinion). Born in the 1980s and 1990s,
‘Millennials’ (or Gen Y) are the generation of ‘digital natives’ who began to reach adulthood around
the turn of the new Millennium. Insight into their attitudes, values,
behaviours and lifestyles - as forged by digital connectivity and globalised mass media - can offer brands clear direction on how to maximise their Millennial appeal.
Now Generation. Black Eyed Peas. We are the now generation We are the generation now This is the now generation This is the generation now I want money I want it want it want it Fast internet Stay connected in a jet Wi-fi, podcast Blasting out an SMS Text me and I text you back Check me on the iChat I'm all about that h t t p You're a PC I'm a Mac I want it
Myspace in your space Facebook is a new place Dip divin' socializin' I'll be out in cyberspace Google is my professor Wikipedia checker Checkin my account Loggin in and loggin out Baby I want it.. Now! This is the now generation This is the generation now We are the now generation I want I want I want it now I want the cold hard cash I want I want I
want it now And I just can't wait I need it immediately And I just can't wait I want it immediately Cause time can't wait and I sure can't wait I ain't got no patience I sure can't
wait We are the now generation We are the generation now This is the now generation This is the generation now I want money I want cold hard cash I'll take your dollar and your euro And you'll have a blast So take your day and your credit And stick it up your ass And do it now! I want it now! Big money, give me mo' money Yeah I want it now! I need cash oh I
need it bad I want it now! Quick in a hurry Like your name is Flash I want it now! You make me wait? And I m'a whip your ass I want it now! I want it now baby! Now! I want it Now! I want it Now! Now Fast, rapido Really quick like torpedo Need for speed is my credo You need to feed this negrito Sender, buyer, brother boat Rapid like a thunder bolt Activated
rock the boat Just ask Barack who broght the hope to Now! It was a now generation And I just can't wait I need it immediately And I Just can't wait I want it immediately Cause if time
can't wait then I sure can’t wait I ain't got no patience No I just can't wait Not again Expedite No time for procrastination Expedite Improve my sensation
1. GIVE IT TO ME… NOW! !
Sometimes called the ‘Now Generation’, Millennials crave
instant gratification1. They want it fast and easy, and they want it now. Their expectations have
been set by immediate, intuitive and real-time digital technology,
and amplified by an uncertain world full of uncertain futures.
With their Millennial motto YOLO*, this generation lives for
today and wants it all, now !
Millennial Opportunity #1: deliver fast and easy instant
gratification
* You Only Live Once
BRAND ADULTERY
2. CHANGE IT UP !
Millennials are change-oriented. Scoring more highly on openness to change scales2, this generation looks forwards and not back. Less
loyal to brands, borders and traditions, the Millennial mindset is forged by choice and change.
Irreverent and easily bored, Millennials surf the Zeitgeist of fast
culture, fast fashion and fast technology seeking out new
sources of excitement, satisfaction and distraction
Millennial Opportunity #2:
champion the new and embody ongoing change
3. IT’S ALL ABOUT ME !
Also known as ‘Generation Me’, Millennial life is a game of ‘self-
enhancement’3. They want to get on and get ahead - and feel
entitled to do so. Empowered with technology and education, and with ambitious egos boosted by parental and social investment,
their self-belief and self-confidence can border on
narcissism4 !
Millennial Opportunity #3: support Millennials in their quest
for self-enhancement
4. MAKE ME FAMOUS !
The largest Millennial study yet conducted found ‘extrinsic values’
such as fame, image and appearance matter more to this
cohort than to past generations5. Bathed in reality television,
celebrity culture and social media, and born of an upbringing promoting self-expression,
Millennials are a ‘show and tell’ generation that expects attention
and craves recognition !
Millennial Opportunity #4: give image-conscious Millennials
bragging rights & a fame-fix
5. TAKE THE PRESSURE OFF !
Millennials feel pressured to succeed. Parents and society have
never invested so much on a generation, and a return on
investment is expected. With digital and mass media promising
Millennials that anything is possible, the pressure is on. As a
result, anxiety, stress and depression are on the rise for this
generation6 !
Millennial Opportunity #5: help Millennials deal with the
pressure to succeed and the need to please and achieve
6. CONNECT ME !
Sometimes called Gen C - the connected generation - this
cohort craves connectivity with people and purpose like no
other7. Whilst digital connectivity connects, it also atomises;
experiences and emotions are shared online rather than in real life, screens are touched more than skin, emotions become
emojis. A single node in a vast network, point and purpose is
diluted !
Millennial Opportunity #6: help Millennials re-connect with
real people and purpose
7. RE-ENCHANT ME !
Growing up in an accelerated culture, Millennials experience things earlier and faster than
previous generations. Unlimited information and technology have stripped magic and mystery from the world, whilst relentless mass
media coverage of disaster, conflict and corruption has led to generational disenchantment with
politics, institutions and corporations8
!Millennial Opportunity #7:
re-enchant the lives of Millennials with magic, mystery or hope
WHAT MILLENNIALS WANT
1. Give it to me, Now… Fast and easy instant gratification
2. Change it up… Embody change, stand for change
3. It’s all about me… Promise self-enhancement
4. Make me famous… Offer me fame, make me look good
5. Take the pressure off… Deal with need to please and achieve
6. Connect me… Re-connect with people and purpose
7. Re-enchant me… Add magic and mystery
WHY MILLENNIALS MATTER !
Generations, like people, have personalities. While there are many differences within generations, not
least across cultures and regions, our connected world means global cohorts increasingly share key influences; from a common life-stage, to global media stories, to their experience of major events and trends. The result is a generational mindset that is more
global than ever before: Millennials - the first ‘digital natives’ - are at the
cutting edge of this shift.
We believe that by collaborating with lead Millennial (& Gen Z) thinkers and influencers, future-focused brands can identify exciting new opportunities that are internationally relevant & scalable.
REFERENCES Alsop, Ron. The trophy kids grow up. How the millennial generation is shaking up the workplace, 2008. Bergman, Shawn M., et al. "Millennials, narcissism, and social networking: What narcissists do on social networking sites and why." Personality and Individual Differences 50.5 (2011): 706-711. Burstein, David D. Fast future: How the millennial generation is shaping our world. Beacon Press, 2013. Carr, Nicholas. The shallows: What the Internet is doing to our brains. WW Norton & Company, 2011. Doherty, Jacqueline On the rise: Here come the Millennials, Barron’s magazine, Dow Jones Financial, 2013 Geraci, John C., and Judit Nagy. "Millennials-the new media generation." Young Consumers: Insight and Ideas for Responsible Marketers 5.2 (2004): 17-24. Heath, Ryan. Please Just F* Off: It's Our Turn Now: Holding Baby Boomers to Account. Pluto Press Australia, 2006. Howe, Neil, and William Strauss. Millennials rising: The next great generation. Random House LLC, 2009. Lyons, Sean T., Linda Duxbury, and Christopher Higgins. "An empirical assessment of generational differences in basic human values 1, 2." Psychological reports 101.2 (2007): 339-352. (Refs. 2, 3) Pew Research Center Millennials: a portrait of generation next: Confident, connected, open to change. Pew Research Center, 2010. Pew Research Center Millennials in adulthood Detached from Institutions, Networked with Friends 2014 Patota, Nancy, Deborah Schwartz, and Theodore Schwartz. "Leveraging generational differences for productivity gains." Journal of American Academy of Business 11.2 (2007): 1-10. Prensky, Marc. "H. sapiens digital: From digital immigrants and digital natives to digital wisdom." Innovate: journal of online education 5.3 (2009). Stein, Joel. "Millennials: The me me me generation." TIME! Magazine 20 (2013). Sweeney, Richard. "Millennial behaviors and demographics." NJ Institute of Technology. (2006): 10. (Ref. 1) Twenge, Jean M. Generation me: Why today's young Americans are more confident, assertive, entitled--and more miserable than ever before. Simon and Schuster, 2006. (Refs. 6, 7, 8) Twenge, Jean M., W. Keith Campbell, and Elise C. Freeman. "Generational differences in young adults' life goals, concern for others, and civic orientation, 1966–2009." Journal of personality and social psychology 102.5 (2012): 1045 (ref. 5) Twenge, Jean M., et al. "Egos Inflating Over Time: A Cross-Temporal Meta-Analysis of the Narcissistic Personality Inventory." Journal of personality 76.4 (2008): 875-902. (Ref. 4) Yarrow, Kit, and Jayne O'Donnell. Gen buy: How tweens, teens and twenty-somethings are revolutionizing retail. John Wiley and Sons, 2009.
If you're interested in how we can help you understand how Millennial consumers are changing markets & what this means
for your brands, we'd be delighted to talk further !
Tom Ellis [email protected]
+44 (0) 7815 896 098 !
Andrew Christophers [email protected]
+44 (0) 7967 175 623