Millennials now outnumber Boomers
In a new study by The Boston Consulting Group (BCG)1, Millennials, aged 16-34 and Non-Millennials were surveyed extensively, showing “negative or dismissive attitudes toward Millennials” by Non-Millennial (Baby Boomer) corporate decision makers.
According to the United Nations Department of Economic Social Affairs, the number of Millennials (79 million) already outnumber Baby Boomers (76 million) in America by 3.94 percent. This gap will widen in coming years as Boomers’ numbers decline, making the bias against Millennials risky for brands, as many enter their prime spending years.
Millennials and technology
Attitudes toward Millennials are very different between Millennials and Non-Millennials. Millennials have a positive perception of their generation, describing themselves as “tech-savvy, young, cool, hip, and innovative,” as Non-Millennials perceive the generation as “lazy, young, spoiled, entitled, and tech-savvy.”
Both agree that Millennials are young and tech-savvy, and the study indicates that while both spend equal amounts of time online, Millennials are consummate multi-taskers and much more likely to produce user-generated content.
- Own smartphones: 59 percent of Millennials, 33 percent of Non-Millennials
- Own desktop computers: 63 percent of Millennials, 80 percent of Non-Millennials
- Rate brands online: 60 percent of Millennials, 46 percent of Non-Millennials
- Upload pictures, videos, and blog: 60 percent of Millennials, 29 percent of Non-Millennials
- Watch 20+ hours of tv per week: 26 percent of Millennials, 49 percent of Non-Millennials
- Watch tv online: 42 percent of Millennials, 18 percent of Non-Millennials
The above data shows a major generational difference in that Millennials do much more online than Non-Millennials, and are more likely to do traditional activities from some form of a computer be it a smartphone or a tablet, like watching tv or making phone calls. Millennials are proven to be multi-taskers, typically engaging in various forms of social media, email, and web surfing simultaneously across various browser tabs and devices, and while many Non-Millennials engage in this behavior, brands must take note that while they have a Millennial’s attention, they may not have their complete attention, so messaging must be absorbed quickly before their eyes dart somewhere else.
Millennials’ behavior is impatient, yet optimistic
BCG asserts that Millennials exhibit four common themes in their evaluations of themselves as a generation, which is supported by their behaviors:
- “I want it fast, and I want it now.”
- “I trust my friends more than ‘corporate mouthpieces.'”
- “I’m a social creature – both online and offline.”
- “I can make the world a better place.”
Brands currently not engaging Millennials should note that the generation expects a different customer service model, and it may surprise some to know that the generation typically prefers efficient, expedient service over receiving a friendly response. Many Non-Millennials mistake the instant gratification need of Millennials as being self-entitled, but it is typically tied more to speed and BCG notes that Millennials are always in a hurry – they expect fast service just like they expect fast downloads and get annoyed and willing to purchase better devices when they slow down.
The challenge here for brands is how to get Millennials to spend time with your brand, when they barely sit still for long enough to read an entire news story, rather skim and get the highlights. As we previously asserted, brands will need to capture attention immediately and quit making consumers analyze data or messaging themselves – the era of a wall of 10 point font on a white paper won’t reach Millennials, but a large image depicting an economic indicator will perform much better, for example.
The crowd-sourcing generation
The report notes that Millennials trust their friends over corporate mouthpieces, but eMarketer data goes a step further and indicates that the generation actually values friends and family’s opinions as equally as they do strangers online evaluating products and brands. This supports BCG’s assertions that Millennials are the crowd-sourcing generation, and they constantly consult Google to verify what they’re told offline.
Half of all Millennials use their mobile device to check out reviews or research while they are shopping, yet only 21 percent of Non-Millennials do so. Brands will need to step up their mobile game in short order as the zoom-in/zoom-out game will become tiresome for Millennials who will move on to better resources (that you don’t control). Over half (53 percent) of Millennials will explore brands via social media, but only 37 percent of Non-Millennials will, further supporting the idea that Millennials highly value crowd-sourcing.
Millennials and social media
Millennials are validated by “likes” on Facebook, and they form tribes online, even with strangers. The BCG study reports the following:
- Use social media: 79 percent of Millennials, 59 percent of Non-Millennials
- Have over 200 friends on Facebook: 46 percent of Millennials, 19 percent of Non-Millennials
- Favor brands with Facebook pages, mobile sites: 33 percent of Millennials, 17 percent of Non-Millennials
- Lives feel richer when using social media: 47 percent of Millennials, 28 percent of Non-Millennials
What stood out to us is that the report indicates Millennials favor brands with “Facebook pages and mobile sites,” but those are two very, very different outlets, so we do not consider that quite a reliable metric, but the study’s assertion that mobile is critical in coming years remains.
Lastly, the study found Millennials to be more likely to encourage others to support their cause, participate in fundraising events, purchase items associated with a cause, and volunteer their time, but the study fails to report how much each generation actually donates in dollars, which we suspect would be dominated by Non-Millennials.
The reason generosity matters, however, is that Millennials who have been trained since they could walk that environmentalism and social justice issues are important, expect companies to publicly engage in corporate social responsibility programs and to support causes relevant to the companies, be it their employers, or brands they seek to purchase. It’s not just a stunt, and Millennials take charity quite seriously and expect brands they identify with to do the same.
The Millennial generation is quite misunderstood, and while there is a need for instant gratification, and yes, some self-righteousness, the generation is caring, smart, and fast. Brands with leaders that exhibit a bias against Millennials may be skewered by the growing number of purchasers as Millennials’ purchasing power quickly outgrows Boomers’.
The study surveyed 4,000 Millennials and 1,000 Non-Millennials, including “pivotal years” before and after each generation to get a true picture of behavior, but we find it interesting that the disparity between the volume of each generation surveyed is quite large, so we expect future studies to reflect similar results, but perhaps a little more favorable toward Non-Millennials. The point remains, however, that brands better adjust quickly, because this generation has money and they don’t blindly throw it away – they research, they are practical, they are mobile, they are in a hurry, they care about your corporate culture, and they want to tell their friends about their experience with your brand.
- Millennials are more difficult to reach, but respond well to creative ads
- Technology has made Millennials impatient yet more complex thinkers
- How Millennials are conditioned to be entrepreneurs
- Why Millennials rely on friends’ and online strangers’ advice equally
- Millennials learning from their Boomer parents’ mistakes
- Portrait of the new Millennial businesswoman
- The ultimate guide to reaching Millennials
Buffer’s four-day workweek experiment: Boost or bust?
(BUSINESS MARKETING) After trying out a four-day workweek last year, Buffer is moving forward with the format going into 2021, citing increase in productivity and work-life balance.
The typical five-day workweek is a thing of the past for Buffer, at least for now. The company has decided to implement a four-day workweek for the “foreseeable future.”
Last year, the company surveyed its employees to see how they are dealing with the ever-changing landscape of the pandemic and the anxiety and stress that came along with it. They soon learned employees didn’t always feel comfortable or like they could take time off.
Employees felt guilty for taking PTO while trying to meet deadlines. Juggling work and suddenly becoming a daycare worker and teacher for their children at the same time was stressful. So, Buffer looked for a solution to help give employees more time and flexibility to get adjusted to their new routines.
Four-Day Workweek Trials
In May, Buffer started the four-day workweek one-month trial to focus on teammates’ well-being. “This four-day workweek period is about well-being, mental health, and placing us as humans and our families first,” said Buffer CEO and co-founder Joel Gascoigne in a company blog post.
“It’s about being able to pick a good time to go and do the groceries, now that it’s a significantly larger task. It’s about parents having more time with kids now that they’re having to take on their education. This isn’t about us trying to get the same productivity in fewer days,” Gascoigne said.
Buffer’s one-month trial proved to be successful. Survey data from before and after the trial showed higher autonomy and lower stress levels. In addition, employee anecdotal stories showed an increase in worker happiness.
With positive results, Buffer turned the trial into a long-term pilot through the end of 2020. This time, the trial would focus on Buffer’s long-term success.
“In order to truly evaluate whether a four-day workweek can be a success long-term, we need to measure productivity as well as individual well-being,” wrote Director of People Courtney Seiter. “Teammate well-being was our end goal for May. Whether that continues, and equally importantly, whether it translates into customer and company results, will be an exciting hypothesis to test.”
Buffer’s shorter workweek trials showed employees felt they had a better work-life balance without compromising work productivity. According to the company’s survey data, almost 34% of employees felt more productive, about 60% felt equally as productive, and only less than 7% of employees felt less productive.
However, just saying productivity is higher isn’t proof. To make sure the numbers added up, managers were asked about their team’s productivity. Engineering managers reported that a decrease in total coding days didn’t show a decrease in output. Instead, there was a significant output increase for product teams, and Infrastructure and Mobile saw their output double.
The Customer Advocacy team, however, did see a decline in output. Customer service is dependent on customer unpredictability so this makes sense. Still, the survey showed about 85% to 90% of employees felt as productive as they would have been in a five-day workweek. Customers just had to wait slightly longer to receive replies to their inquiries.
With more time and control of their schedules, Buffer’s survey shows an increase in individual autonomy and decreased stress levels reported by employees. And, the general work happiness for the entire company has been consistent throughout 2020.
What’s in store for 2021?
Based on positive employee feedback and promising company results, Buffer decided it will continue the company-wide four-day workweek this year.
“The four-day work week resulted in sustained productivity levels and a better sense of work-life balance. These were the exact results we’d hoped to see, and they helped us challenge the notion that we need to work the typical ‘nine-to-five,’ five days a week,” wrote Team Engagement Manager Nicole Miller.
The four-day workweek will continue in 2021, but the company will also be implementing adjustments based on the pilot results.
For most teams, Fridays will be the default day off. For teams that aren’t project-based, their workweek will look slightly different. As an example, the Customer Advocacy team will follow a different schedule to avoid customer reply delays and ticket overflow. Each team member will still have a four-day workweek and need to meet their specific targets. They will just have a more flexible schedule.
Companies who follow this format understand that output expectations will be further defined by area and department level. Employees who aren’t meeting their performance objectives will have the option to choose a five-day workweek or might be asked to do so.
If needed, Fridays will also serve as an overflow workday to finish up a project. Of course, schedules will be evaluated quarterly to make sure productivity is continuing to thrive and employees are still satisfied.
But, Miller says Buffer is “establishing ambitious goals” that might “push the limits” of a four-day work week in 2021. With the world slowly starting to normalize, who knows when a four-day workweek might reach its conclusion.
“We aren’t sure that we’ll continue with the four-day workweeks forever, but for now, we’re going to stick with it as long as we are still able to hit our ambitious goals,” wrote Miller.
10 easy steps to get into Instagram marketing
(BUSINESS MARKETING) Want to up your social media marketing game? Start better with Instagram for your business using these easy tips to quickly get established.
When Instagram first came on the scene, it was simply a place to share pictures of your cat or a pie that you just baked. While it still is a place for that kind of content, it has also grown into a platform where one can influence others and build an empire.
So, if you’re looking to step up your social media marketing game through use of Instagram, look no further than using these 10 steps from Neil Patel.
- Switch to a business profile: This is super easy and can be done in just a few clicks. Switching from a personal to a business profile gives a better look at your followers through Insights, allowing you to see analytics and impressions. It also adds a contact feature that takes a visitor right to an email draft to you – just like it would on your website. All this and it makes it possible to publish ads.
- Use free marketing tools: Because Facebook owns Instagram, they operate kind of similarly. As mentioned in #1, Insights allows for a deep dive into personalized analytics to see what kind of posts are clicking with your audience and which aren’t. That way, you know what kind of content to continue with and what to do away with.
- Post product teasers: There are a variety of ways to do this, including posting about flash sales or linking business platforms that sell your product to make it easier for your customer to shop. The trick here is to not be pushy, but instead be enticing and make the post convenient for your consumer.
- Create a sponsored ad: Like Facebook, you can post ads and include a specific budget of what you want to spend. You can showcase one ad or multiple with the carousel feature. You can also target the exact demographic you’re looking to hit.
- Instagram stories: These last 24 hours and don’t have to be as “fancy” as a regular post. Give followers a glimpse into your brand with behind-the-scenes shots, polls, fun questions, etc. Make them feel like they’re part of the experience and use this as a way to tell your brand’s story.
- Partner with influencers: Work out a deal with influencers who have a decent following. Send them one of your items in exchange for them posting a photo of the item and tagging your brand. This will reach their whole followership and build your credibility.
- Collect user-submitted photos: Share photos posted by customers loving on your brand or product. Either share them to your story, or use a regram app to repost customer photos to your feed. It’s basically free advertising for your product.
- Hashtags: Come up with an interactive hashtag solely for your brand. Think in terms of verbs (a la Nike’s “Just Do It”). It can be punny or practical, but something that people attribute to your brand and your brand only.
- Timing and over-posting: Look into the best times to post – this is when your users are most active. It will be helpful to use Insights to understand when your time to shine may be. According to SimplyMeasured, the worst days to post on Instagram are Wednesdays and Sundays, while Mondays and Thursdays are the best days to post. Also, don’t over post. It’s annoying and it’s always best to err on the side of quality over quantity.
- Track the right metrics: Insights do no good if you aren’t looking at the right data. You need to keep tabs on whether or not what you’re doing is increasing your follower growth as well as growth for your interaction. With research, use of Insights and a little trial and error, you’ll get yourself to where you need to be.
Unpopular opinion: Coworkers are not your ‘family’
(MARKETING) “I just want you to think of us as family,” they say. If this were true, I could fire my uncle for always bringing up “that” topic on Thanksgiving…
The season 10 opener of “Undercover Boss” featured Walk-On’s Bistreaux & Bar. Brandon Landry, owner, went to the Lafayette location where he worked undercover with Jessica Comeaux, an assistant manager. Comeaux came across as a dedicated employee of the company, and she was given a well-deserved reward for her work. But I rolled my eyes as the show described the team as a “family.” I take offense at combining business and family, unless you’re really family. Why shouldn’t this work dynamic be used?
Employers don’t have loyalty to employees.
One of the biggest reasons work isn’t family is that loyalty doesn’t go both ways. Employers who act as though employees are family wouldn’t hesitate to fire someone if it came down to it. In most families, you support each other during tough times, but that wouldn’t be the case in a business. If you’ve ever thought that you can’t ask for a raise or vacation, you’ve probably bought into the theory that “work is a family.” No, work is a contract.
Would the roles be okay if the genders were reversed?
At Walks-Ons, Comeaux is referred to as “Mama Jess,” by “some of the girls.” I have to wonder how that would come across if Comeaux were a man being called “Daddy Jess” by younger team members? See any problem with that? What happens when the boss is a 30-year-old and the employee is senior? Using family terminology to describe work relationships is just wrong.
Families’ roles are complex.
You’ll spend over 2,000 hours with your co-workers every year. It’s human nature to want to belong. But when you think of your job like a family, you may bring dysfunction into the workplace.
What if you never had a mom, or if your dad was abusive? Professional relationships don’t need the added complexity of “family” norms. Seeing your boss as “mom” or “dad” completely skews the roles of boss/employee. When your mom asks you to do more, it’s hard to say no. If your “work mom or dad” wants you to stay late, it’s going to be hard to set boundaries when you buy into the bogus theory that work is family. Stop thinking of work this way.
Check your business culture to make sure that your team has healthy boundaries and teamwork. Having a great work culture doesn’t have to mean you think of your team as family. It means that you appreciate your team, let them have good work-life balance and understand professionalism.
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