Oh, Millennials. Sweet millennials. Those darling cupcakes. Those fragile snowflakes…..the butt of all the good jokes. You’ve heard all the unflattering adjectives used to describe them…lazy…entitled…self-absorbed.
But here at Miller Public Relations, we don’t embrace that mindset. And we coach our clients not to embrace it either. Let’s talk about why.
If you do a Google search for “millennial” or “millennial generation”, you will find over 12 million results! Don’t miss that. That’s a lot of attention concerning this generation. And for good reason. There are a LOT of them.
Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates released by the U.S. Census Bureau. Millennials now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69).
At almost 80 million strong, they are the biggest age group in American history.
According to Dictionary.com, a Millennial is a term used to refer to the generation, born from 1980 to 2000. They have been brought up using digital technology and mass media; the children of Baby Boomers and Gen Xers.
According to wide market research, Millennials have a love of technology AND they are less affected by traditional marketing methods than previous generations. So that means, we have to think differently about this unique group when developing marketing strategies.
The question becomes, “How can you get Millennials in the door of your practice as a new patient?” And more importantly, “How can you keep them as a patient for a lifetime?”
To answer those important questions, we will have to attempt to get inside the heads of our Millennials. Ready?
How Millennials Value and Spend Their Money
Research shows that millennials, in some parts of the country, (even those who are 30-35 years old) rarely buy houses, and even more rarely – cars. In fact, they tend not to make super expensive purchases at all.
Sociologists tend to agree that the millennial generation have different values than those of their parents. The American Dream to a Millennial may not be home ownership, two cars and three kids.
They think…“Why own a car if you can take a cab or an Uber?” “It’s almost a personal car but with a driver.” And it’s not more expensive than having your own car when you consider car payments, gas, maintenance, etc.
They think…”Why strap yourself down to a 30-year mortgage on one house in one location when you’ll probably change jobs in a few years?” “If I rent, nothing prevents me from moving closer to my work.”
More and more, research has shown that Millennials are RECONSIDERING THE CONCEPT OF SUCCESS. Here is how they think:
- Successful people don’t get strapped down by buying a home; they rent.
- Successful people invest, not in things, but in experiences (travel, extreme sports, building start ups)
- According to the Huffington Post, travel has become a top priority for this generation.
The point is MILLENNIALS DON’T WANT PROSPERITY AND STABILITY. THEY WANT EXPERIENCES, FLEXIBILITY AND INDEPENDENCE.
This Millennial mindset might be discouraging news for those who sell mortgages or cars…
But for those who sell EXPERIENCES, or in our case, tools to help individuals ENJOY their EXPERIENCES to the fullest, the Millennial Mindset is GREAT news.
LASIK and other elective procedures allow people to more fully enjoy their EXPERIENCES, their LIVES, without being encumbered – it’s all about freedom.
If you are interested in creative, intelligent marketing designed to increase your millennial population, we would be delighted to consult with you, design for you, create a campaign for you…however we can help!
-The Miller Public Relations Team