Note that this article has been updated to also include some of the private discussions with thought leaders in the past. You can read my final overview of my research into the Millennial generation along with what I predicted and what happened as they matured at this link. While I still speak about Echo Boomers and iGenZ privately, I seldom add new articles to this specific blogspot site. If you're reaching out about a speaking engagement, you can contact me at the research firm SqlinSix.
Millennial Trends From A Study
Some fascinating selections [Update: dead link removed] about Echo Boomer's taste in products and services (especially with technology):
9 out of 10 Echo Boomers above 18 use the internet.
3 out of 4 Echo Boomers use social networking, like MySpace, Facebook, et cetera.
3 out of 5 have wireless access to the internet.
Over 4 out of 5 keep their cell phones with them at all time.
40% have no landline.
2 out of 5 Echo Boomers have at least one tattoo.
25% of Echo Boomers have a non-lobe piercing.
Echo Boomers value services and products that do not harm the environment.
Echo Boomers value real estate that is close to their work and their social outlets.
Echo Boomers are less willing to own cars than previous generations.
Echo Boomers value stable investments such as cash, bonds and money markets.
Notice the Themes
Digital. Your business digital presence matters. I know this seems obvious, but I still meet business leaders with no digital presence. This may make sense for selling to Baby Boomers and Xers, but outside of very niche geographical businesses (local coffee), your digital presence will carry power with Echo Boomers.
Social. Whether it's living near friends, commuting with friends, or copying their friends, Echo Boomers value their friends because their perception of value is determined by others. Thus, if an Echo Boomer shares a story and that story doesn't get any Facebook likes, they feel bad about that story. They need others to validate their life and decisions, so this means that they need to live by others, constantly get feedback from others, and identify what others are doing, so they do it too (this helps explain why they love tattoos).
The recession is fresh in their mind. Their focus on stability originates from what they saw during the financial crisis. This event is still fresh in their mind and it drives a lot of their financial behavior from investing in perceived stability to keeping expenses low if they can.
