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Millennials’ ‘Live Now’ Mentality: Short-Term Thinking & Spending Habits

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Millennials’ entrance into the workforce during a time of high financial insecurity resulted in a “Live Now” mentality centered around living in the moment and prioritizing quality of life over financial savings.

In a recent MediaPost article, our Associate Strategist Celinne Da Costa outlines how marketers can tap into Millennials’ “Live Now” mentality, becoming trusted partners in helping this group satisfy their short-term goals and establishing a valuable relationship for when Millennials start thinking about their futures.

In the post below, we’ve outlined Celinne’s three tips for marketers who want to connect with Millennials’ “Live Now” mentality.

Three Marketer Takeaways:

Millennials Value Experience. Three in four Millennials would much rather break the bank for an in-the-moment event or experience than an item. Celinne mentions that “Marketers can connect with Millennial consumers by giving them experiences beyond just their products or services, to showcase how the brand enhances their lives.”

Long-term Loyalty is a Challenge to Maintain. Millennials are known for quickly moving on to the next best thing, especially when they have many options available at different price points. “Despite being budget-conscious, this group cares about a brand’s intentions more than cost,” shares Celinne. Cost comes secondary to marketers’ intentions to positively impact MIllennials’ lives – marketers can leverage this insight to build strategies that focus on creating long-term relationships.

Pave for the Future by Solving for the Present. The future is out of sight, out of mind for a generation focused on the ‘now.’ When addressing the long term, Celinne states “it is important to relate to specific challenges that Millennials are facing in the present – their financial stresses and lack of future planning being the most prominent – and how your brand can help. How will your brand benefit them now and later, rather than just later in life?”

Read the full article in MediaPost.

Cover photo via 9HDW.