By Neda Eneva
How can we ensure our industry and profession keep up with the demands of our time and remain relevant not only in generating insights for our clients, but also in effectively impacting the lives of consumers? Last week Amsterdam hosted the latest edition of the ESOMAR Best of series, bringing Congress presentations to the local data, insights and research audience in The Netherlands. And while there wasn’t an official theme umbrella accompanying the event, there was a clear underlying message – if we wish to stay relevant we need to be able to look beyond the conventional and be brave to experiment.
The event opened with a presentation by Till Winkler from SKOPOS, Germany with an inspiring talk on the need for agile research. Are we truly in sync with the way our clients work? Drawing from his experience in the sphere of UX research, Till showcased interesting parallels between the 4 step feedback loop UX teams work with and fundamentally some of the current core requirements in working with clients not only in UX research, but also beyond. He observed that in the sphere of UX and probably most of the tech-oriented industries, the initiation of change and the generation of fact-driven decision-making have actually shifted towards the UX and tech teams themselves leading to a dynamic change in the way clients overall operate. It is the UX teams that drive the change, Till argued, and as drivers of change how do they operate? In a very agile manner, for example, adopting the popular Eric Ries’ 4 step feedback loop, which places the generation of ideas and their execution prior to measuring and generating insights. Research takes too long and it is too complex, UX experts argue and so there appears to be a gap between the model of “build, test and build again” they execute and the insights-first weighty cycles the market research industry provides. And while the clients have an increased demand for speed and continuous support, as well as high demands for specific expertise because they have fundamentally changed the way they work, is the market research industry adapting itself to their needs? Can we prove them wrong in saying that #mrx is just not worth the time and effort? To answer that, we do not even need to reinvent the wheel, Till argued, instead we could perhaps learn from the way our clients operate. To achieve that, he suggested four key action points. First, utilize technology and more specifically – achieve automation. Make use of new solutions to make your processes faster, easier and even cheaper, which can go as far as change the way you interact with clients to meet their needs. Number two, take control, ‘stop the waterfall’. Have the nerve to pivot and try something new, do not be afraid to adjust along the way. Try and experiment with new tools, such as communities for example, to achieve responsive and adaptive testing and insights’ generation. And third, rethink. And this, Till argued is a key principle in achieving a more agile way of working. What about our own UX? Have WE ensured fluid user experience and full, cross-platform integration or have we forgotten that methodology, while crucial, is only one aspect of the journey of meeting clients’ needs. Agile thinking is not something that we can or should switch on and off, it has to become a core principle in the way we work. And so Till concluded, maybe we do not need to prove UX-ers wrong, bur rather try and think differently and most of all, be brave to experiment, try something new, ask for feedback and adapt going ahead.
Going beyond working with clients and moving on to consumers, the need for adaptive action was also highlighted by the team at SKIM, and more specifically Julia Goernandt, Nijat Mammadbayli and Patricia Domiguez who presented their case-study on millennials as key brand development disruptors. And while many still fail to see the relevance, the SKIM team highlighted in a clear way the importance of this key demographic among consumers. In the US, for example, the team highlighted, there are more millennials than baby boomers and while millennials are transforming the market, brands still fail to rethink how they communicate to this generation effectively. To showcase that, a modified research method is needed in understanding millennials and the way they are adopting new technologies and are adapting consumer behavior to their own models. Julia, Nijat and Patricia presented their global case study showcasing a new research approach and namely conducting a survey on smartphones, and more importantly, asking millennials to respond in a way which comes naturally to millennials. Focusing on the telecom industry, the research addressed what millennials look for when choosing a network provider, the best way to talk to millennials, and ultimately what influences their likelihood to switch or stay with a provider. They adapted the swiping technique using ‘unspoken’ technology, which takes into account both the emotional and rational element in decision-making. The research was conducted across 3 different locations (Atlanta, London and Rotterdam) and across a 24/7 timeframe. And so, the case study paid off as they discovered interesting findings confirming key behavioral features of millennials as consumers. Millennials wish to be connected at all time, thrive to be themselves while having fun, value disruptors and are highly perceptive to visuals. And what does that mean for brands? When addressing millennials, it is important not to forget that they are open to changes in decision-making, value the basics and can be rather volatile. And while this global case study focused and highlighted this one key consumer demographic, it showcased an even more important issue – market research needs to maintain an adaptive approach when addressing different consumer groups and thus needs to adjust its methodology in generating insights accordingly.
The third speaker of the day, Nikki Lavoie, MindSpark Research International, continued the topic of connecting better with our target audiences. Where do we look for answers, she asked. Typically, market researchers adjust their methodologies through new tech or more data, but Nikki offered an exciting and rather revolutionary method – why not draw inspiration through a more cross-disciplinary method? She proposed the use of empathy, namely not only understanding and but also sharing the feelings of other people as a tool to gather insight that we understand and value. Market researchers, Nikki argued, both across the qual and quant, often don’t think twice about how they engage to get them into a focus group, for example. Are we motivating participants the best way possible and even more importantly, do we realize how detached from their experiences we are as researchers and how that potentially affects the insights and conclusions we generate from them. Nikki challenged the maxima of “if ain’t broke, don’t fix it”, urging market researchers to stop resting on their laurels, suggesting the need to go back to the foundations and shift the focus back to the recruitment process. She contested common motivation techniques, such as financial rewards, arguing that those always offer lower engagement rates and cause additional post factum issues. Using learnings from gamification theory, psychology and behavioral economics, Nikki underlined that understanding and connecting with human motivation is a lot more crucial than researchers often realize and there are a lot of limitations that can be found in un-empathetic techniques such as financial incentives. Trust, Nikki added, is another factor often getting lost in financial incentives. The moment you pay someone to answer a personal question, the relationship changes to an economic one, Nikki explained. To illustrate this, she presented a case study she conducted with a control group and a volunteer group who received different explanations as to why they were invited to participate. With the results showing that the completion rate of the task suggested was higher among the volunteer group, Nikki underlined that our ability to motivate and engage with consumers is limited at present. Are we ready to understand and share their experiences, she asked, to reach true understanding of both their shopping and participation behavior?
The final presentation by Anouar El Haji from Veylinx also focused on drawing inspiration from different fields and going beyond traditional methodologies to measure product value and perceptions. His argument was that we need to make the game as real as possible if we are to expect real insights. It is time for #mrx to go in the direction of introducing ‘skin in the game’ for true measurement of value. The problem with surveys, he argued, is that their hypothetical bias is a result of their fictitious nature. His answer to this – “Ask people to put their money where their mouth is” or, simply put, auctions. At Veylinx they have adopted a form of the Lonely but Lovely Vickrey Auction thus impacting the value by changing the positioning of the product. They set up a product valuation by setting an auction in which each participant has one anonymous vote, with the final price being the highest losing bid. By auctions, Anouar argued, the people that are willing to actually pay for a product are more clearly distinguished from the people that are not. A compelling approach, which certainly answers the call for unconventional approaches to commonly witnessed industry challenges.
And so, from auctions to empathy, from millennials to the need for being more agile, this edition of ESOMAR’s Best Of certainly didn’t disappoint in offering inspiration to the call for change from conventional research workflows. Biggest learning for me? Do not be afraid to experiment and look beyond your field when trying to push the boundaries for better insights.
P.S Did I mention that all the speakers are millennials themselves? How cool is that?!?
Neda Eneva is Marketing and Communications Manager at ESOMAR.
Meet 5 Millennials in Market Research who have helped shape the ESOMAR Congress 2016 Presentation Program.
They share your passion for Aha! Moments, consumer understanding and data discovery. And the way the Pokémon Go Craze simultaneously amazes and annoys you.
Caroline, Devika, Jason, Katia and Till are Explorers, Thought Leaders and Creators. They also all happen to be born after 1986.
I’ve had the opportunity to catch up with them on topics spanning their favorite apps and festivals, their ESOMAR submissions and their vision for the future of our industry. Enjoy the read and be sure to check out their ESOMAR Congress 2016 sessions (in NOLA or from the comfort of your screens – dates and times outlined below)!
1/ Market Research in 2026
Giulia: Let’s talk about the Future of Market Research. Imagine it’s 2026. What does that landscape look like, compared to today?
Caroline: Tech startups will be using wearable technology to measure actual emotional response in real time. Plus the standard KPIs because they will never truly (and shouldn’t) die.
Jason: There will be a shift in how we measure attitudes towards certain key benefits of a brand or category: from long lists of statements tested quantitatively, to using images and short snappy wording. Deeper insight will be coming from qualitative work.
Katia: MRX will be about smart data integration – where the only thing that we will still end up asking consumers is the why.
Till: We’ll be fully immersed in an environment that allows us researchers to constantly draw the information most relevant to any given ad-hoc research question. Concepts will be evaluated by generating data in an experimental setting (behavior tracking). Data will be interpreted against a broader tracking ecosystem of other relevant data (KPIs). I hope the PowerPoint and Excel era will come to an end in order to give experiments and real work with data more room to flourish.
Did the future of MRX just get “Moore’s Lawyered”?
These visions portray an industry that is not only leaping, but leapfrogging forward, heavily driven by ever-accelerating technology capabilities. Concepts like full automation, virtual reality and symbiotic relationships between human senses and electronic circuits come to mind. Which triggers a spontaneous question: how will we make sense of so much immersive data? Will this make us even more “Data rich and Insight poor”?
From TMI to TMY
Not according to our Millennial Researchers. To temper the threat of drowning in too much information, their visions include additional solutions, like standard KPIs or qualitative work. In essence, we’re looking at a future where the WHATs will be automated, and our job will be to make sense of them and uncover the WHYs.
2/ ESOMAR: start, stop, continue
Giulia: What can ESOMAR start/stop/keep doing to remain/become future proof or consistently be future-generation friendly?
Caroline: Innovation has been a big buzz word for a while now, but I think it is especially important in research – to remain relevant to clients, leadership, and the people we are contacting for sample. A Shark Tank-esque competition for new and innovative research techniques could be a cool way to get innovative ideas flowing (and heard about).
Jason: I guess an easy answer is to continue supporting mobile research. I also agree with the view that attention spans are getting shorter, and therefore chunking of surveys is probably the future (i.e. get Person A to answer Section 1, get Person B to answer Section 2, etc., and then fill in the gaps based on answers from similar types of people).
“Stimulate the conversation on how to turn the industry away from becoming a dinosaur.”
Katia: ESOMAR should keep on giving the stage to Millennials with bold ideas – also from outside our industry. Bring young researchers together more, stimulate the conversation on how to turn the industry away from becoming a dinosaur. I also see an opportunity to stop using the traditional white paper formats – they are often lengthy and could benefit from a snappier, more visually engaging look and feel. This will help especially when presenting points of view and case studies.
Till: ESOMAR should start a crowd funding platform for good ideas and business opportunities by startups who might change the way we do market research. You know, ESOMAR as a VC (Venture Capitalist) or business angel. That’d be something that could help the organization stand out and above all others. And of course… that’s also the future.
Are blurring industry lines a threat to ESOMAR? Or an opportunity?
There seems to be tension between what was and what will be. Business model revolutions in other industries seem to be trickling into the Research reality. We’ve developed the habit of expecting new players to emerge from the most unexpected places.
Rather than considering this a threat to ESOMAR, our team of Millennial researchers sees it as an opportunity to learn, open up and respond to new kinds of stimuli. Just like our favorite brands learn from us and grow with us, so should our industry – and ESOMAR has full permission to helm it.
3/ Market Research across Generations
Giulia: A GenX-er, a Baby Boomer and a Millennial working at the same research agency walk into a bar… What are they ordering? Laughing about or looking forward to? Talking about that bothers them?
Caroline: The Millennial is too busy looking at their phone at first – then they get a craft beer on tap. The bartender overlooks the GenX-er, and the Boomer gets a glass of wine. They’re all looking forward to family moments (Millennial’s friend is getting married to Boomer’s daughter, Gen-Xer has third baby on the way). What bothers them? Pokémon Go across the board.
Devika: I think they’re all worried about different things – the Boomer about becoming insignificant, the Gen-Xer about not settling down and the Millennial about not finding greatness and their own calling.
Jason: I still think that what bothers them unites them: today, probably politics across the board.
Katia: They’d all drink Belgian beer of course – so that’s another thing that brings them together! When it comes to arguments, I’m sorry for feeding the stereotypes here, but I do think Boomers would focus on how rigorous analysis and traditional proven methods are not appreciated enough anymore, while Millennials would be talking about how recruitment and research methods are not in line with today’s reality. And that they’re causing our very own global warming of Panels. And that it’s time for disruptive thinking.
At ESOMAR NOLA, I’d love to put the two people with most and least research experience next to one another to hear their thoughts on our industry: evaluating the past and looking at the future.
“The Boomer is laughing at the Millennial: ‘You guys cannot have everything. Settle down a bit.”
Till: The Baby Boomer is ordering a Whiskey or Gin and Tonic. The GenX-er orders a Beck’s Beer. He’s retro like that. The Millennial doesn’t really know what to order at first so she takes a few minutes to study the menu. She’s torn between a craft beer, the Club-Mate and the new bio coke. She eventually asks the waiter to pick one, because it’s what Kahneman told us to do.
Next, the Boomer is laughing at the Millennial: “You guys cannot have everything. Settle down a bit”. The Millennial tries to convince the Baby Boomer that enough isn’t enough and people can change the world. The GenX-er kind of isn’t participating in the conversation. It seems as if he’s more interested in his second round of beer.
It bothers the others that the Millennial seems to lead the way with new progressive ideas and ways to live and think. And it bothers the Millennial that too many people from both generations are in positions where they decide and make changes based upon their personal beliefs, that are mostly NON-Millennial.
Giulia: Since we’re on the topic – tell me about the last time you heard someone talk/read something about Millennials. Like the first blog post in my Research X Millennials content series (wink wink).
Caroline: Literally every single day. And I don’t mean the figurative definition of literally! Earlier this week I went to a meeting hosted by Delta’s CMO and one of the topics was – you guessed it – Millennials. Someone posed a question asking if we are doing enough to target the Millennial generation.
The answer to that question is a whole different can of worms, but I found his response refreshing. Without getting into the details of what we are/are not doing, he acknowledged that the bulk of leadership at Delta are not Millennials – rather, their kids are. They can try to understand them, but will always be an outsider looking in. While I myself am a Millennial, the majority of people I work are not – including the ones fielding research and writing reports on Millennials. I think recognizing that there will be a disconnect between leadership and an audience segment is the first step to bridging that gap.
Devika: I’d love to share this article that had a great impact on me – it made me better understand myself and why I feel pressured. The article, I feel, accurately addresses the pressures of Millennials – the idea that we can achieve greatness and our need to find it (our calling). However, I don’t agree with the bit where it assumes all Millennials are lazy and looking for shortcuts. I have only seen otherwise.
Jason: I found this Instagram post struck close to home. Millennials like that people view them as different. They like the fact they aren’t expected to get married until 30, and how it’s become cool to be a hippy who travels for the sake of travel instead of buckling down into a career for 40 years straight.
However, they still think it’s edgy to do this and show it off – edgy to be breaking the old paradigm. Your research suggests that Millennials are less trusting of others, and search for authenticity. I would say this lends itself to their exaggerated propensity for travel: they want to ‘stick it to the man’ who they don’t trust and who wants them to work in a suit for a living.
Your research also says they acknowledge and engage in a more dynamic and changing workplace. What is more dynamic then dipping in and out of work, in different countries, and travelling in between? I’m getting tired of seeing travel posts on my newsfeed about ditching materialism and spending money on experiences, all from newly-philosophical 20 somethings who have quit their first office job.
It’s no longer original/authentic to be a travel bug and go to Europe and say you prefer to go off the beaten path. Every path you take will be beaten now.
Millennials have tried so hard to break out of the traditional life-cycle mold that they have created a new mold they all fall into. One where being an interesting individual means to travel a lot, if only for the sake of it. I am one of these people.
“I feel like there is a direct correlation between technology advances and society’s ability to wait patiently.”
Caroline: I thought the impact in the workplace section of your “Research about Millennials” blog post was especially interesting, and was with the majority who voted that they (we) have had a significant impact.
While I agree with the concept of ‘experience hopping’ and the need for more leadership development, I think there is another factor shaping the Millennial workforce – patience (or a lack thereof). I feel like there is a direct correlation between technology advances and society’s ability to wait patiently.
In a world where we’re accustomed to immediate responses and lightning speed internet, it is no wonder that the desire to switch jobs is growing. We see people like Mark Zuckerberg reaching billionaire status by 30 and tech startups earning millions in their 20’s. A drive for success is a common thread across all generations – however it seems that the time expected to achieve success has been reduced – we want to be successful ASAP – and that means moving up in our careers at unprecedented levels.
A promotion a year seems completely reasonable, but that would mean that 5 years out of college we’d all be at the leadership level, and companies are pretty top-heavy already. The best way to move up in many cases is to switch jobs – even if the preferred track is at your current company. The desire to succeed (i.e. promotions & raises) wins out over the patience typically required to move up within a single organization. I don’t think it is driven by entitlement but rather a need to prove self-worth in a world where other people’s success stories are widely broadcast via social media for us to compare ourselves to.
The world is moving faster than ever, and it seems the need to keep up is a powerful driver of Millennial decisions in the workplace.
Till: Here’s an Instagram from my past to make a point. It’s about telling everybody that I’m so international, working in London for 2 days. Taking a picture of a coffee place (which is cool), a hand-written notebook (which shows my deep thoughts) and a smartphone which shows that I’m connected. All of that is topped off by using the perfect filter (color of the cup and the table top) which shows that I’m artsy and know design.
And that is my opinion about my own peers: Making a lot out of little. Giving meaning to everything. Trying to present myself as individualistically as possible.
4/ YOU in Market Research
Giulia: What is your biggest achievement or proudest moment when it comes to your team’s submission for the ESOMAR Congress?
Caroline: My first experience with ESOMAR was as an MMR (Master of Marketing Research) grad student at UGA (University of Georgia) – I remember being so impressed by the vendor booths and speakers so to actually be presenting is a big accomplishment in itself!
Devika: My big moment was having pulled off the study on which we based our paper – it was something new, completely absorbing and difficult to pull off – and completing it and getting the amazing results that we did was a big big high!
But reading the acceptance mail from Congress and finding out that our paper had been selected was an even bigger achievement! And then, to top that, our paper got shortlisted as a finalist for the Best Paper Award – which was the biggest, most exciting and celebrated moment of this entire journey so far!
Jason: Simply being involved. I was the lead analyst in the research our submission is based on, and ‘unearthed’ the key findings. I was proud that I was asked by my very experienced colleagues to read over and tighten the analysis section of our submission.
Till: I’m presenting with my best friend. And we’ve been trying to improve the industry for years and now we get to present our ideas in New Orleans, in the USA. Get to share our thoughts. WOW.
|Caroline Smiley||Devika Johar||Jason Morris||Katia Pallini||Till Winkler|
|Delta Airlines||The Third Eye||Millward Brown||InSites Consulting||SKOPOS|
|The Power of Reflective Content –
A study of spare time and how
we spend it
|Respondent Engagement –
Investing in “sticky-ness”
|The Power is in the Mix –
How smart data integration
will reinvent the (survey) research industry
|User Experience –
Testing in the Digital Age – How agile research
enables our industry not only to
stay relevant but to increase
our business impact
Empire C & D
11:20 – 11:35
17:20 – 17:40
17:00 – 17:20
09:35 – 09:55
Empire C & D
|Curious to learn more? Check out the presentations at the 69th ESOMAR Congress in New Orleans!|
So WHAT: Are we all just afflicted by a serious case of #keepingup?
Market Research is #keepingup with making sense of technology in a way that makes the race of our industry look like an obstacle course sprinkled with Data Rich/Insight Poor traps.
ESOMAR is #keepingup with the fast-moving reality of a changing business landscape, where research/start up worlds/crowdsourcing/big ideas that get big funding could be what propels all of us into the future – if we let it and learn from it.
Others are #keepingup with the Millennial generation. And Millennials? They are #keepingup with the hyped stereotypes (stereohypes?) of their own generation. Or with proving that they are not like the stereotypes. On a deeper level, Millennials are #keepingup with the many success stories surrounding them and appearing on their news feeds every day.
#keepingup might be tiresome and stressful – but it seems like a good way to overcome the inevitable Dunning-Kruger effect that drives generations away from one another.
To be a Millennial Researcher in this world means to live in a kind of hyper-reality, where we find ourselves under the research lens as much as behind it. This creates not only more (self-) consciousness, but also a vision of the future that is coming at us faster, in more colors and less pixelated than ever before.
Bonus: one app and two festivals
Till: I discovered Number26, which is really a banking company that offers a great app that allows me to control my spending, my savings and my overall money transfer process through an app. The app is so easy and with touch ID it makes transferring money to friends (e.g. for a shared dinner) so easy and it happens within seconds. Also it’s free and it’s a really big difference to the classic, old fashioned banks.
Jason: Went to Wireless in London mid-June. Was very fun experiencing how hyped up the crowd got for BBK (most popular Grime group in UK/London) as I am from New Zealand and listen to American hip hop mainly. I have been to a lot of festivals but their set was the craziest I’ve been too. Nearly got enveloped by ~10 mosh pits, thought I was going to pass out from heat at a few points, and was literally too dangerous to record any footage on my phone. Great times.
Katia: every year there is a big festival in Ghent, my hometown, where for 10 days there is music and concerts on the streets of the historic center. It is a yearly tradition for the locals and a must attend for those that are visiting!
Giulia Gasperi is known mostly for her faith in unicorns and love for fun facts. She speaks 5 languages and has resided in 9 countries across 4 continents. Today, as Research Director at InSites Consulting, she inspires top-tier brands all over the world and helps them unlock extraordinary insights from everyday consumer realities. Tomorrow, she hopes to become a ballerinastronaut.
A Millennial’s Attempt At Understanding Research About Her Own Generation – #ResearchAboutMillennials
By Giulia Gasperi
Ever attended a conference presentation feeling like you were in a Discovery Channel documentary about yourself? If so, you’re probably a Millennial.
Millennials have been placed in the world’s biggest petri dish, by a landslide. The Google search query “Research about Millennials” unleashes roughly 21,300,000 results – that’s 100 times more sources than what lurks behind the search term “Research about GenX”.
Unable to resist the idea of exploring a virtual landscape almost as vast as habitable Planet Earth, I wrote this blog post to start a conversation with you on the broader topic of Research By/About/For/Through/[insert preposition of your choice] Millennials.
I invite you, my fellow researchers, thinkers and Discovery Channel Docu-stars of the Millennial Generation, to help me untangle some of the seemingly contradicting insights related to Millennials. You can do so by casting your vote for different sides of my story in polls sprinkled throughout this post, and by sharing your thoughts in the comment box at the bottom. I look forward to collecting your opinions to tie them into upcoming stuff in my Research X Millennials content series.
Out of hundreds of stats, this one is probably my favorite. As contradictory as it may sound, it perfectly summarizes what happens when you stuff billions of consumers into the same, enormous petri dish. And it begs the question: if they don’t consider themselves a Millennial, then what do they identify with, exactly? Curious to hear your thoughts on this.
1/ Millennials vs older generations
On the fence? Let’s review a few arguments in favor of either schools of thought.
So what? A solve to this divide in opinion proposes that Millennials follow the same life trajectory as previous generations, but with more stops along the way. Their path in life is a snakes and ladders game: less linear than before, a jumble of milestones that result in a more complex journey into adulthood. The differences between “Say” and “Do” are dictated by external factors, such as the economic climate they live in.
A more complicated life journey has repercussions on many aspects of life. Because “Millennials in the workplace” was one of the biggest themes in my 10-Google-page crusade. I decided to take a closer look at this aspect.
2/ Millennials in the workplace
Here are some more stats for both sides of this argument:
|They have not significantly impacted dynamics in the workplace||They have significantly impacted dynamics in the workplace|
They make their own career decisions: they are less influenced by parents or friends than generally expected.
They rely on others for career decisions: Top 1 approach to seeking employment is to be referred by a friend, relative or other connection
So what? This was my Aha! moment:
- While the Economist and CEB Global agree that 51% of Millennials look for jobs elsewhere, compared to 37% of GenX, CEB adds that 53% of Millennials find internal opportunities desirable, suggesting that Millennials are not Job hopping – they’re Experience hopping.
- Why is that? My speculation leads me to think that companies are still looking for the right loyalty triggers to help Millennials stick around. For example:
- 63% believe their leadership skills are not being developed
- Hiring managers today choose to hire more and more freelancers because of their fit with current workplace realities – e.g. the ability to put a supplier to work immediately, scaling employment in a way that mirrors business priorities and accessing specific skills.
In a way, Millennials are thus left with no other choice than to adapt to a more dynamic workplace:
- 79% consider quitting their regular job to work for themselves
- 82% believe starting a business today is easier than it has ever been before.
What looks like a chicken vs. egg argument essentially implies that businesses could do a better job at bridging the gap to ensure a new generation of business leaders is created.
Unleashing loyalty and answering the question “what’s in it for me” is just as important in the Millennial workplace as in other aspects of their lives.
To unleash their loyalty, we need to look at what drives it and better understand Millennial Values and Attitudes.
This shifts the conversation into my third and last monologue/debate.
3/ Millennial Values & Attitudes
Hail The Stats!
|Individualistic & Me-Minded||Inclusive & We-Minded|
They are comfortable in their home nest: 60% eat with their family 4-5 nights per week, 85% mention parents are their best friends
A few thoughts as to why we are so divided on this. The easiest approach is to fall back on the good old “we can’t bundle billions of people together” argument. This article looks at how Millennials choose where to live, and states that while 42% want to stay near their families, 41% decide where to live based on their job and career decisions – that’s an equal share on both sides of the value spectrum. Different people have different priorities, and being a Millennial doesn’t change that.
I’d be ok with that, was it not for the stat about trust, which caught me off guard. How can Millennials be socially minded and distrusting at the same time?
- Less than 1 in 2 Millennials trust experts (e.g. doctors, financial advisors) to convince them of the merit of a brand (vs. 61% non-Millennials)
- 53% say they don’t trust anyone with financial guidance
On the opposite side of the spectrum,
- More than 1 in 2 Millennials trust websites and digital/social media advertising (vs. 33% non-Millennials)
- 60% want their banks to be a partner or friend
Next to this, Forbes argues that Millennials integrate their beliefs in causes of their choice, for companies they choose to support.
They are on the constant search for authenticity, for political and ethical truth.
Millennials are trying to shape their own way of navigating a reality sprinkled with corporate scandals, the fall of many long-standing financial institutions and the dot-com bubble burst. Disillusionment turns into learning experiences, and learning experiences turn one-track minds into multi-faceted chameleons.
Sometimes, the explanation lies on both sides of the spectrum.
Embracing their complexity can help us move closer to Millennial audiences and find new sweet spots to engage with them.
I mean us. 🙂
Enough from my end for now – curious to hear what you think, and specifically, what you believe this means for other big Millennial Labels, like “Shareconomy” or “The Wired Generation”.
Share your comments below!
Giulia Gasperi is known mostly for her faith in unicorns and love for fun facts, she speaks 5 languages and has resided in 9 countries across 4 continents. Today, as Research Director at InSites Consulting, she inspires top-tier brands all over the world and helps them unlock extraordinary insights from everyday consumer realities. Tomorrow, she hopes to become a ballerinastronaut.