One of the hottest topics for brands and marketers these days is how to connect with growing demographics that are, well, harder to connect with.
Millennials and now Generation Z are less and less brand-loyal, but in need of content and entertainment more than ever.
Part of it is that they (or we) want to have meaningful lives that contribute to higher purposes. Traditional 9-to-5 jobs are less and less appealing, and our personal brands are tied up into the products–and their stories–we buy and wear.
We believe in changing the world, in whatever big or small ways we can, but it looks different than our parents’ take on generosity.
Here are a few ways Millennials see money and giving differently today:
- We like to invest in ideas. In the past decade, many nonprofits have done a great job in awareness about poverty and various human rights atrocities. Now we care a lot more about building something that will help prevent these things (poverty, hunger and human trafficking) altogether. Have you noticed the term “social enterprise” is on the rise? As the discussion on international development and aid is advancing, so is our interest in innovative ideas to invest in.
- Our buying looks like giving. Many talented creatives and aspiring world-changers have captured hold of the opportunity to blend social impact with business. Many startup brands these days not only sell cool stuff, but also have a social component to them. Creating jobs for the poor or donating a portion of proceeds to a charity partner are examples of how you can have meaningful impact as a business. Check out Boll & Branch’s new fair trade and organic throw blankets, or these leather clutches and jewelry from fashionABLE.
- My donation should feel rewarding. It’s nice when we can participate in a cause we believe in. Benefit concerts, raffles for celebrity meet and greets, or online fundraising campaigns to give up our birthday make it feel like an experience, not a transaction. Stories go a long way, too. Kickstarter’s Founder recently started Dollar a Day, where you commit to donate a dollar each day, and they send you an email each morning with the story of the non-profit your dollar went to.
- The way we carry money has changed. If we are not carrying around cash, we’re certainly not carrying around checkbooks. But we have Venmo, and many churches now offer digital giving from the touch of your phone. eChurchGiving found that 85 percent of users give up trying to donate on their phone if process takes longer than 30 seconds. The average time it takes to donate online can take up to three or more minutes. We need frictionless engagement for when we want to pay or give.
- Yes, Instagram matters. Yes, “slacktivism” carries a bad reputation. But aside from our money, the next most valuable thing we have is our personal brand. Much of the way we share ideas and learn about new ones is through social media. From running creative fundraising and awareness campaigns to posting pictures of our hands, we believe that, yes, Instagram selfies do really matter.
- It’s cool to care. When I grew up, it was cool not to care, about anything. Saggy pants and poor posture (not to mention one-word answers), were the character traits of many popular figures. I’m glad that’s not the case anymore. The rise of technology has made intellect and conversation a valuable commodity. Combine that with the shared desire to leave the world a better place, it’s all of a sudden really really cool to care. And not just to care, but it’s cool to do something about it.
