How Well Do You Know the Consumers of Tomorrow?

The sales world is changing and you should be aware of the impact of the changing tastes of consumers and how it can effect your business.

Do you know what makes a millennial tick?

The Millennials:

Other wise known as the Generation Y, the Echo Boomers and the Net Generation, they are born after 1982 and there are estimated to be around 75 million of them with a buying power of $1 trillion. They are tech savvy, social networkers who are diverse, ambitious and wireless savvy. Millennials are one of the hottest target markets for 2009 and beyond.

If you are selling to millennials then they are OK with advertising if done correctly. Go for authenticity and real or real clever. It might surprise you but they expect good customer service as standard. They expect the product to be fantastic and to does what it says. If you want to access this market then you must make sure your website is accessible via smartphones and do some research on facebook and iphone apps as they might be your best communication media.

If you employ millennials then you should think twice about asuming that financial reward is their only motivation. Research shows that they rank career satisfaction almost as highly. Importantly they like to be made to feel they are making a difference to your organisation and are not just there for the grunt work.

So if you are not a millennial but your business is reliant on them either as employees or customers, make sure you spend some valuable time understanding what makes them tick.