You've heard of millennials - everyone’s favorite age demographic, right? Well, whether they are your favorite or not, they are everywhere. Millennials are the driving force behind a lot of changes across our society. Haven’t you heard? They killed mayonnaise and Applebee’s!
The truth is millennials didn’t kill either of those things: they still use mayonnaise, they just call it aioli; and Applebee’s isn’t dead yet, but just like any company it has to adjust to market.
But even if millennials didn’t kill mayonnaise or Applebees, they are an important demographic. Brands or industries that ignore their distinct characteristics do so at their peril. As millennials start making up a larger and larger percentage of a company’s customer base, one thing to consider is whether the client gifts you have been sending for years need an update to be more compatible with the millennial consumer.
We’ve got some tips on how to adjust your client gifts to better respond to millennial preferences and needs. But first a little primer on who exactly these millennials are and why they are so important.
Who Are Millennials?
There’s a bit of disagreement about who exactly counts as a millennial, but generally speaking, anyone born between 1981 and 1996 is considered part of the generation. Millennials came of age in the early years of the new millennium. Most of them are digital natives and either used the internet as young children or have never known a world without it.
Millennials are more diverse as a group than previous generations. There’s more racial diversity, more sexual orientation diversity, and more diversity in gender identity, among other things. This means that one-size-fits all solutions are less likely to work for millennials as a group.
Why Do Millennials Matter?
There are over 75 million millennials in the U.S., projected to overtake the Baby Boomers this year as the largest generation. They are quickly gaining purchasing power. Right now, millennials make up about a quarter of the population and about thirty percent of all adults. They are loyal consumers and rely heavily on personal recommendations. They like to shop locally and prioritize businesses that are value-driven more than previous generations.
Millennials and Gifting
Learning how to cater to millennials as customers isn’t just a good business strategy; it’s a necessity. And this isn’t only important in your services and branding; it’s important in every aspect of your professional relationships with millennials. Imagine spending thousands of dollars on consultants to get your services and branding perfectly attuned to your target millennial customer, and then sending them a gift card to, let’s just say, Applebee’s as a thank you gift. They may not complain, but it sends a signal to your millennial clients that you don’t really understand them.
To make sure your gifts send the message that you get millennials, here are some things we know about millennials and gifts:
1. Millennials Prefer Personal Gifts: Millennials do not want gift cards. They want something personal or unique. Something that is in line with their personal interests or tastes. They are less interested in the absolute monetary value, but are more interested in how valuable it is to them personally. Of course, this can be difficult in a client relationship, but read on, because we’ve got a solution for you.
2. Millennials are Comfortable Sharing Their Preferences: Millennials have no problem telling people exactly what they want. They create wish lists and Pinterest boards highlighting things they like. This can make things easier, but some light social media stalking is still a pretty big no-no in a professional context. However, there may be other ways to leverage the fact that millennials are more likely to ask for exactly what they want.
3. Millennials are Comfortable Using Technology: Not only are millennials pretty tech savvy generally, they are also open to using technology in new ways when it comes to gifting. They make purchases through social media, they tie gift cards to digital wallets, they even use digital points to purchase gifts for others. Plus, as mentioned above, they use social media and digital wish lists to indicate things they would like.
So, let's review: (1) millennials want gifts that are personal, (2) they are willing to share their preferences, and (3) they are comfortable using technology.
EvaBot addresses each of these characteristics. EvaBot uses a friendly AI chatbot (technology), to ask recipients about their preferences (which they are happy to share), and send them a perfectly personalized gift (which is exactly what they want). It's a win-win-win.
If you want to wow your millennial customers with personalized client gifts, EvaBot is the perfect option.