You can't ignore them.You're one of them,or they're your employees, your fellow entrepreneurs or your targetmarket.
HOW TO SPOT A MILLENNIAL
Millennials' habitats and personal styles vary, but they share some characteristics that will help you spot them in the wild:
MARKETING TO MILLENNIALS
With somanymillennials out there, theymake up one of the hottest potential markets for 2009 and beyond. Follow these tips to connect better with millennials: 1. Advertising is A-OK--if it's done right. "Millennials aren't opposed to advertising," says Nancy Robinson, vice president of Consumer Strategist and millennials expert at Iconoculture. "They actually quite like it. It's a game. You can be real or you can be real clever. Authenticity is a hallmark for them, but they're also engaged and amused when someone is clever enough to skirt the issue." 2. Earn their loyalty through good service and strong products. "They're loyal, but that loyalty needs to be earned and renewed," says Robinson. "They expect customer service, they expect the product to be good, and they expect the product to work." 3. When it comes to internet marketing, you don't necessarily need to be fancy. "I caution companies from using social aspects on their websites unlessthey really know what they're doing and can keep it up," says Robinson. "We've gone beyond bells and whistles with this group." Pay attention to basics like making sure your website is accessible on smartphone screens as well as regular computers.
RETAINING MILLENNIAL WORKERS
Millennial workers will be happy to be on board with your startup, but they may not always stay that way. They won't think twice about job hopping if they're not satisfied. As an entrepreneur, you should know how to reel in and retain this valuable force. Here's how:
• Know your audience. A survey released earlier this year by Robert Half International and Yahoo HotJobs shows that the top three career concerns for millennials are salary/benefits/ retirement, job stability and career satisfaction.
• Millennials won't settle for grunt work. They need to feel like they're making a difference in your business and are part of the decision-making process.
• Flexibility is key in the work environment. This includes flexible schedules and the accessibility of higher-ups.
• Millennials welcome feedback. Consider ditching the once-a-year review for more regular evaluations.