Embracing Millennials’ Adventurous Side

Concert CrowdMillennials are adventure-seekers. They want to live in the moment, have fun with their friends, and make memories. They’re willing to spend their money on experiences such as concerts and trips to have a good time and document what they’re doing. As affordable adventures become increasingly important to Millennials, companies should take note and find ways to offer them experiences as well.

We often hear that Millennials want to be a part of epic activities whether that’s attending the coolest concert, partaking in a fun ski weekend with their friends, or making their own fun while thrift shopping. They want to have a story to share and pictures to prove how awesome it was. FOMO (fear of missing out) and YOLO (you only live once) became common catchphrases in the past year, highlighting this Millennial mindset that you should live your life to the fullest. Moreover, social media has amplified this sentiment. Millennials, now more than ever, have exposure to everything they are missing out on, making them more inclined to do and try everything. Where one checks in and what images they post help garner likes and social currency. That doesn’t mean material possessions don’t matter to Millennials, but they’re very interested in experiences that they can partake in with their friends and share with the rest of the network.

However, given the difficult economy, Millennials are practical in how they pay for these adventures. Many use sites such as Groupon or LivingSocial to achieve these cool experiences at a reduced cost. They’ll try a restaurant they may not ordinarily be able to afford, or plan a cool activity like whitewater rafting. They may do these things ordinarily without using deal sites, but regardless, they’re savvy in figuring out options that fit their budget and they’re…

 
 

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Millennial News Feed

Quote of the Day: “You want me to list every concert I’ve been to in the past year? Are you nuts? I've been to like 30 so far this year.”

—Male, 29, NY

Forget the ping pong tables and free food, Millennials really want a tech-smart workplace. A new study from Dell and Intel has revealed that 80% of 18-34-year-old workers prefer tech-forward perks like augmented/virtual reality than other low-tech perks at their workplace. They are so driven by digital capabilities that 42% say they wouldn’t hesitate to leave their jobs if the environment wasn’t up to par with what they consider “smart.” About three in five say they expect technology to become advanced enough to longer need face-to-face interactions in the future. (Parent Herald)

Branded content is not only a way to reach the ad-skipping generation, it’s also producing results. A recent Nielsen analysis found that branded content generates 21% more brand recall than a pre-roll ad, and is giving brands a boost in perception: affinity for branded content averages 28% in comparison to 18% for pre-roll, and purchase intent is 14% for branded content compared to 11% for pre-roll. The analysis also found that 40% of consumers say they “probably will” or “definitely will” view branded content on future TV/video episodes. (MediaPost

Victoria’s Secret is making a not-so-subtle play to attract Nike consumers to their brand with Victoria Sport, their new athleisure division. The brand has been slowly shifting its image from sexy to athletic to coincide with Millennials’ preference for “being fit [and] strong,” and buying clothes that reflect that. On the new line’s website, Victoria Secret calls out Nike with a quote from one of their Angels saying, “When I tried these, I threw out all my Nike bras." (Business Insider

“Brand love is alive and well with the Dew nation." After Mountain Dew asked fans to vote on which limited-edition flavor should become a permanent fixture in stores, Baja Blast or Pitch Black, a three-month long voting campaign inspired crazy stunts and drew in nearly 5.8 million votes. To encourage votes, the brand hosted an event inspired by ‘90s favorite GUTS Aggro Crag, and challenged fans on social media to bathe in or dye their hair the color of the beverage they wanted to win. Fans complied, and in the end Pitch Black was the ultimate winner with 50.5% of the votes. (Adweek

Millennial small business owners (SBOs) are “in it for the long haul.” A study from Wells Fargo revealed that 80% of 19-35-year-old SBOs plan to grow their business for many years and eventually pass them along to their children, and nearly 60% say that being passionate about their work is what drove them to start their business, compared to about half of older SBOs. Millennial SBOs are also more willing to put it all on the line: 67% are willing to take financial risks to get them there, while only 54% of older SBOs said the same. (Entrepreneur,The Street

“I like Beyoncé, because she's a force to be reckoned with in most aspects of her life. She shows how to be a strong female.”—Female, 26, CO

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