Why should I be interested in the youth, you ask? Unlike Bitcoin, fidget spinners, and self-driving cars (sorry guys, I love to drive) this is a trend that you just have to jump on if you want to be successful in business. The youth are the future, and companies are trying to find out more about how young people’s behavior and trends are like, in order to project the future and to either see how to work with them or benefit from their buying power, which is estimated at US$1.68 trillion annual addition to the economy in the US alone. Now that’s one gravy train I would like to jump on, wouldn’t you? Here are some reasons why more companies should be interested and care about the youth:
Young people, more than any other generations, are technologically advanced. Don’t get it twisted; they don’t only use technology to be on social media for fun and ‘clicks’ but they also get to use social media to network and market to their peers. Through the use of blog posts, projects, and connecting with other professionals, they are able to promote the business to the market. This gives them an added advantage in the organization as they know how to target and connect with potential customers and clients.
Most people and organizations fear to be unconventional (non-conforming) as they feel like it can disrupt how everything is going and the necessary processes within the organizations. However, being ‘unconventional’ has its own unseen advantages as well. Young people now learn in different ways. Physically attending workshops is not the only way to attain knowledge nowadays. They also make use of the internet to gain new skills and knowledge. This allows the company to train employees through different methods which are usually cost-effective.
Long-term brand loyalty
Unlike the stereotype that is normally associated with millennials always switching from brand to brand, they are most likely to be loyal to brands. 1 in 5 millennials says they will keep being loyal to their parents’ brands. This shows just how much they are more likely to keep purchasing from a particular brand. Companies have to use this to their advantage, as they are the future of the economy. With an increase in purchasing power as the years go by, the youth will be the purchasing power of the future. This means that in the near future millennials will be the biggest group with the most purchasing power. So companies which want to be relevant and have a customer base should invest more in gaining attention with millennials.
In conclusion, companies need to be more aware of how to engage young people in their organization and their cause. What better way to get in touch with them than from the young people themselves by visiting this link here?3