the 5 keys to engage millennial thinking - fintech americas, miami october 2015
TRANSCRIPT
@lopezsalaberry
Millennials The future, today.
Juan Lopez Salaberry
@lopezsalaberry
Partner 500 Startups Global VC fund
Millennial :)
@lopezsalaberry
MillennialsBorn between1982-2000
by 2025 we will represent 75% of the WW workforce
“entrepreneurs”“tolerant”
“committed with society and nature”
We are
Millennials: The future, today.
But… Why?
How did we get here?
@lopezsalaberryMillennials: The future, today.
They say…
While we are more connected, we get more disconnected, we have more
virtual relations than real ones
First digital natives in history 81% have a Facebook profile
83% sleep next to their cellphone
@lopezsalaberryMillennials: The future, today.
They say…
We are not committed with our employers, that we can´t (or won´t)
commit long time
Search for meaning has changed, from the outside to something within
only 45% expect to receive Social Security benefits during retirement
36% are married, an indicator of strapped finances
@lopezsalaberryMillennials: The future, today.
They say…
We are nomads, we seek global opportunities
Historic unemployment of over 50% among young professionals
homeownership is down, rent is up
@lopezsalaberryMillennials: The future, today.
They say…
We have a high sense of justice and values.
Ideology is at the lowest ever
Corruption has become a normal practice
@lopezsalaberryMillennials: The future, today.
They say…
We are tolerant
For the first time: two popes, and kingdoms being passed on through living
successions Highest ever levels of diversity
@lopezsalaberryMillennials: The future, today.
They say…
We were born in an era of economic prosperity, where kids lived in comfortable
and safe homes
The most highly educated, highly indebted generation in history
Median net worth is down 43% from Gen Xers when they were under 35
@lopezsalaberryMillennials: The future, today.
What then?
would rather go to the dentist than listen to what banks are
saying.
All 4 of the leading Banks are among the 10 least loved
brands by Millennials.
71%1. Show them you care
What then?
2. Go mobile
would be more excited about a new offering in financial services from GOOGLE,
AMAZON, APPLE, PAYPAL or SQUARE than from their own
nationwide bank.
73%
What then?
3. Create engaging experiences
of Millennials would choose to spend money on experiences
over buying something.
78%
What then?
1 in 3
are open to switching banks in the next 90
days. “I don’t see the difference between
my bank and all the others.”
4. Differentiate
What then?
7 out of 10 Millennials consult,
react to or post about products,
brands and companies on social media
5. Leverage social power
https://www.youtube.com/watch?v=fD1512_XJEw
“When we are no longer able to change a situation, we are challenged
to change ourselves.” ― Viktor E. Frankl, Man's Search for Meaning