“If sex, drugs and rock and roll were the holy trinity of the Boomer era, health, happiness and well-being is becoming the trademark of the Millennial generation.” The mindset of millennials has shifted from the Baby Boomer generation. Their focus is primarily on living a healthy, purposeful lifestyle that supports themselves and sustains the planet. Millennials have become an increasingly important demographic for brands to reach out too. As of 2015, millennials became the largest living generation in the U.S., representing almost 76 million consumers.
According to Jeff Fromm, a contributor to Forbes, the millennial mindset consists of six over-arching ideas that brands need to stay in touch with when marketing to millennials:
- Social Circle
As a millennial, the ideas that resonate with me the most are purpose and accessibility. Purpose encompasses brands that are trying to make a difference in the world and not solely focused on turning a profit. Accessibility entails brands that fit into the millennial consumers lifestyle, successfully simplifying and fitting seamlessly into their consumer’s lives. As a brand, implementing strategies that integrate these ideas contribute to creating a more sustainable and eco-friendly perception from the public. Transparency from the company shows the public that they’re living up to their sustainable persona.
For example, let’s look at Nike and how they apply these ideas to their brand and marketing strategy in order to create a legitimately sustainable company that targets millennials.
Social Circle: Nike’s presence on social media is great. They utilize all four social media platforms: Instagram, Twitter, Facebook, Pinterest, and have even created their own social media platform: Nike+. In addition to a large social media presence, Nike uses influencers to spread information about their products and further their reach toward a larger audience.
Self: Millennials are focused on living a healthy lifestyle. As it’s a producer of workout clothing, shoes, and accessory, Nike’s products are inherently geared toward getting outside and living an active balanced life. Millennials connect with their product because it connects with their own personal values.
Innovative: Nike’s new Flyknit technology produces 60% less waste than traditional cut-and-sew methods. They use recycled plastic to produce many of their polyester workout clothing, and and their ColorDry technology uses zero water.
Trusted: Nike is well-known, respected, and widely popular company that has built trust with its consumer base. They also release an annual Sustainable Business Report proving to millennials (and consumers everywhere) the impact they’re having on the environment.
Purposeful: In addition to conserving resources through efficient manufacturing and the use of sustainable materials, Nike also tries to make a difference in their community. They partner with Lets Move! Active Schools campaign to help kids lead an active and healthy lifestyle. This provides the business with a greater purpose than turning a profit and continues to align with the values of millennials.
Accessible: Nike’s accessibility is a product that fits seamlessly into the lives of a variety of generations: working moms, college students trying to stay fit, grandparents who want to work out again. They use a good CSR strategy that works for wide demographic, but specifically exemplifies the millennial mindset.