Millennials Are Not Aliens
By Gui Costin
*A Book Review*
by Michael C. Gray
© 2023 by Michael C. Gray
With continuous technology development, accelerated by the COVID-19 pandemic, we are witnessing an ongoing cultural shift of how people prefer and expect to communicate, work and do business. Businesses have to understand these changes and adapt to them in order to survive and prosper.
In Millennials Are Not Aliens, Gui Costin shares what his company, Dakota (an investment services company), learned about Millennial culture, how they buy products and services, and how to adapt to market to them.
Millennials (roughly born from 1977 - 1995) are the first generation to grow up with and adopt these technological developments into their lifestyle. This can make them seem strange to older generations, although the older generations are gradually adopting the same technologies (often with the help of their grandchildren).
It's important to understand how to communicate with and do business with Millennials because they will soon be the dominant generation. Millennials have passed Baby Boomers (born 1946 - 1964) as the largest segment of the U.S. population, 22% versus 21%. Although Millennial households currently have a much smaller net worth, $221,209, than Baby Boomers, $1,642,898, the Great Generation (born before 1946), $1,290,334, or Gen X (born 1965-1976), $1,106,975, Millennials are in position for a huge wealth shift from inheritances from their Baby Boomer parents.
Millennials have never used the Yellow Pages, an encyclopedia, a dial telephone, or a typewriter. They aren't accustomed to having in-person meetings with a salesperson. About half of their purchases are made online.
We can easily observe they prefer to do almost everything with a smart phone. Even email is passť and might not be read at all. Telephone calls are a rude interruption. They prefer texting.
Almost all of Millennial's research is done online, including comparative price shopping. A "sales pitch" is mostly not acceptable. Instead, they prefer to find information so they can make their own decisions.
Instead of reading, Millennials prefer to get their information as a video.
For members of older generations, Millennials Are Not Aliens is a worthwhile reference to better understand Millennials' lifestyle and how to communicate and market to them.
Buy it at Amazon: Millennials Are Not Aliens: ...but they are 80 Million Americans Who Are Changing How We Buy, Sell, Vacation, Invest, and Just About Everything Else.
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