Selling to Millennials: Just Who are They Anyway?
Posted by: Linda Kay | October 27, 2014
Seems like everywhere you turn these days, you hear about the “Millennial” generation. Clearly their influence is being felt across our country. They are also possibly the most researched generation in our history.
The Pew Research Center, an American think tank organization, defined "adult Millennials" as those who are 18 to 33 years old, born 1981–1996. According to them, the youngest Millennials are still "in their teens" with "no chronological end point set for them yet". Another chart by the organization lists the Millennial birth range as 1981–1998. To see the full report, click here..
According to the Pew Social Trend report, millennials are the American teens and twenty-somethings who are making the passage into adulthood at the start of a new millennium — have begun to forge their generation: confident, self-expressive, liberal, upbeat and open to change.
They are more ethnically and racially diverse than older adults. They’re less religious, less likely to have served in the military, and are on track to become the most educated generation in American history. Their entry into careers and first jobs has been badly set back by the Great Recession, but they are more upbeat than their elders about their own economic futures as well as about the overall state of the nation
They embrace multiple modes of self-expression. Three-quarters have created a profile on a social networking site. One-in-five have posted a video of themselves online. Nearly four-in-ten have a tattoo (and for most who do, one is not enough: about half of those with tattoos have two to five and 18% have six or more). Nearly one-in-four have a piercing in some place other than an earlobe — about six times the share of older adults who’ve done this. But their look-at-me tendencies are not without limits. Most Millennials have placed privacy boundaries on their social media profiles. And 70% say their tattoos are hidden beneath clothing.
So, just how do the rest of us meet the millennial in the marketplace? Melissa Hillebrand offers some tips in a PropertyCasualy360 article, The 5 Rules for Winning Over Millennial Customers. To read more, click here.
Be a trusted advisor
Despite their reputation for living entirely online, many millennials respond well to in-person interactions, especially in the workplace. Be available in person and be available to help.
Engage millennials with technology
Offer multiple channels, including online, phone, and social media, to enhance your credibility and reach millennial customers where they are most comfortable.
Update your website
Increase conversion rates and capture more customers with a more prominent, better designed online presence. Remember, your site will likely be millennial customers' first contact with you -- make sure you give them a good impression.
Use a cloud-based agency management system
Allow your sales staff to service clients remotely and for clients to access their account information online. Not only is it a value-add for the client, but it makes account management easier for everyone.
Leverage tech solutions
Provide online self-service capabilities that make it easier for millennials to do business on their terms.
To see the complete article, The 5 Rules for Winning Over Millennial Customers, click here 2.
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