Millennials want innovation, community and values. The brands that get all those things right will have customers for life.
Let’s start with innovation. There is an expectation that the next cool thing is right around the bend. Millennials want to discover it, explore it and share it. They especially love things that make their lives easier and more convenient.
And finally there are the values. Values remain a major consideration among Millennials. They will ally themselves with companies that share their beliefs and cultural relevancies.
So who is doing it right? Each day new and exciting brands hit the marketplace. Here are three that embrace all the important aspects of the Millennial marketing mix:
Venmo – Venmo is a mobile service that allows you to exchange payments with your friends via your smartphone. It’s free to download and use, and all you have to do is link your account to your banking account or debit card. The app also links your Facebook friends and email contacts to your bank account, and voilà! You’re ready to go. It’s an exemplary app for urban professional twenty-somethings by fulfilling their love for social media and convenience. It’s like Facebook and PayPal combined (without the fees). And the best part? You receive $5 for getting your friends to sign up.
Zipcar – Zipcar is a car-sharing company providing automobile reservations to its members, billable by the hour or day. Why is it so successful? It’s simply the future of transportation. It’s easy to use (you can unlock the car with your smartphone), and it relies on the sense of community. Running late? There’s someone relying on you (so don’t be late!) Insurance and gas are included, and the broadening appeal is that there’s an ecological payoff, and it’s environmentally friendly, too. Besides, car-sharing sure beats the hell out of car ownership any day.
Duolingo – Duolingo is a free language-learning website and crowdsourced text-translation platform. There are no fees, no ads and no gimmicks. It’s just a way for people to learn a language for free while at the same time helping to translate text from the Web, enabling a wealth of information to be liberated for all of humanity. And because you’re creating valuable translations while you learn, Duolingo returns the favor by offering the service free of charge.
Millennials were raised as a digital generation, a generation defined by sharing, collaboration and community. Gen Y takes pride in creating and being part of something really cool. It’s become a fine blend of individual expression combined with the collaborative whole.
While great brands are continually evolving, it’s the ones who put aside traditional appeals for an entirely different cultural structure that will speak to and attract Millennials for years to come.
Alyse Lorber is the Global Marketing Assistant at gyro.
Follow Alyse @alyse_michelle