Generation Evolutional Fit: Insight III
1 Social Interaction
Companies need to have a presence both in social media and in community welfare. Industry leaders are gaining notability through an expression of their expertise at no cost through newsletters, blogs, and social media platforms. This concept seems counterintuitive to some however it is an exercise executed by many of the largest companies that successfully employ and retain business from the growing Millennial pool. Is it merely a function of the populous wanting free advice and services or is it a cultural manifestation in the makeup of an important demographic? I suggest it is the latter.
Millennials grew up utilizing and creating free services in protest of the established system. It was their peaceful protest done on a platform that leveled playing fields. Many of these services eventually established a sustainable business model where they provide value above and beyond the free services they continually give away. Pew Research discovered that Millennials are a substantial charitable group with greater than half regularly donating money and time. Corporate social responsibility has become a greater focal necessity over the past decade as this generational group entered adulthood and began demanding behaviors from those they patron.
I suggest businesses treat social interaction and responsibility as a business practice as necessary as bookkeeping. You want a part of that Millennial pool as customers and employees and therefore should know what makes them tick. Set the narrative and expand your customer base and company culture by putting your industry prowess to written form and community charity. Opinions, beliefs, and behaviors will grow stronger with younger generations and the aging Millennial group. Don’t be the last to market.