WEBINAR SERIES RECAP: “The Rise of the Millennials”

On July 1, WHPRMS welcomed Tamalyn Powell, SVP/Group Account Director of BVK to present, “Welcome to the age of the Millennials” to our members. We tuned in for those of you whose busy schedules could allow. Here are the 16 highlights of her presentation on what makes this generation tick and how they make buying decisions:

• The millennial demographic are people born between 1980-2000; ages 15-34. Also known as Echoboomers, the Me Me Me generation.They make almost 80 million and are the strong, largest generation in American history.
• “How we speak to this group is way different than the generations before,” Tamalyn said. “Don’t talk at or sell them, be authentic.” She used these words several times in her hour-long presentation.
• BVK study: Numerous overaching, stereotyical statements that can accurately be made about millennials based on the surveys. Such as:
  • They are unique
  • Interested in participating in your marketing.
  • Crave adventure
  • Strive for a healthy lifestyle
  • Seek peer affirmation
  • Hooked on social media
  • Not a homogeneous cohort
  • Believe in cause marketing
• The rise of the selfie: Millennials want to be individuals. They are big believers in cause marketing and using a brand that stands for something big. Such as Tom’s Shoes, The Humane Society and green, environmentally-friendly companies. They seem to be fiscally responsible.
• Time Magazine article published by Joel Stein on May 20, 2013 on Millennials:
  • Used terms like: lazy, narcissistic, game-obsessed, entitled, shallow and selfish
  • Observations of this generation (who are not in this generation):
    • Earnist and optimistic group
    • Want constant approval
    • Massive fear of missing out
    • EntrepreneurialNot into going to church
    • Interested in new experiences more than material goods
    • Are cool and reserved and passionate
    • Pro-business,
    • Have less household and credit card debt than any other previous generation (but have more student loan debt),
    • Love their phones, but hate talking on them,
    • Live in a flat world with no leaders,
    • Informed but inactive (won’t picket but are well connected with what is happening)
    • Pragmatic idealists
    • Really nice people: nice, more accepting of differences, think about it before you do it, being three of four steps ahead of what they want to do in life.
• How do millennials see themselves? They learn what they live: I want it fast and I want it now. American millennials are all about instant gratification. They put premiums on speed, ease and efficiency. They will trust friends more than corporate mouthpieces.
  • To this generation, the definition of an expert is a person with the credibility to recommend brands, products and services.
  • 50% use mobile device to read user reviews and research products.
  • They want to make the world a better place.
  • This generation was taught to recycle. They want to be good to the planet and truly believe that collective action can be good for the world.
• Key attitudes:
  • Egocentrism (big sense of high opinion of themselves)
  • High level of self confidence and turns to ego.
  • Want to follow and use resources of large entities to change the world rather than act alone.
• Consumer behaviors of millennials:
  • Value individuality, are searching for a customized user/buying experience
  • Crave unique experiences
  • Are price conscious
  • Tend to live in the moment
  • Only pay attention to message relevant to them
  • Distain the original sales pitch, email blasts, direct mail and print ads
  • Want to be engaged by a brand that offers the sum? value – solving a problem, providing insight or at least entertain them.
• How they buy: Millennials are the most educated generation in American history; they have been through global recessions, 9/11 and other global disasters.
  • Edelman 8095 survey: Millennials see brands as potential partners and think of brands as a form of self expression. They want brands to be authentic, want brands to offer financial assistance or info each day to help them solve problems. They want brands to have a social purpose such as childhood obesity or homelessness.
  • Only have 3 seconds to grab their attention.
  • Millennials have the highest percentage use of social media at 84 percent. They shop for hospitals, clinics, care on social media.
  • They take recommendations from friends but will also take advice from strangers. Look at people who use your product.
• How do they seek health care? They think our system is flawed: designed to care for old and sick, structured for profit and need to focus on wellness, accessibility, compassion and choice.
  • Millennials think health care should involve clean air, spirituality, nutrition and mind-body therapy.
  • They want a health care system, not just a sick care system.
  • Millennials would rather pay more out of their paycheck for care than paying at the door when they visit.
  • They don’t think about care unless they need it. Need to do search term marketing. All without speaking to a human being.
• Half the American workforce will be Millennials by 2020.
• How do they shop for you:
  • Influenced by relevant advertising; reputation and patient experiences.
  • If they had a great baby experience – they won’t go to ortho if you don’t have a good experience. It’s just not continuum of care – it’s not across the board. They will look to peers.
  • Because they are young and mostly healthy, targeted media that delivers appropriate messages when millennials are close to a care decision (symptomatic vis asymptomatic) will see the best results. Must be digital too.
• NRC publishes marketing insight report each year: 300,000 health care consumers each year. May-june of last year: BVK added questions to this survey. Then took that data and cut it by respondent to 18-34 and compared it to the older generation.
  • 37 percent said brand preference is situational
  • 36 percent said they had no preference
  • Top 5 factors that they indicate preference is drive: treat me like a person; offer good value (but does not equal cost); puts my interest first, most hassle free patient care, my doctor practices here.
  • Out-of-pocket cost concerns them most. Not necessarily the total cost of care.
  • Only 29 percent consider total cost of care in the health care decision-making.
  • Only 29 percent of millennials say they are neutral when it comes to physician loyalty. Overall, they are not loyal to health care provider.
• How will ObamaCare make a difference? They are more optimistic but only half thought it will change cost and quality. Only 58 percent thought access to care in ObamaCare would stay the same.
• What does this mean for the health care industry?Access and cost does mean a lot to Millennials
  • They first look to online data to self-diagnose; willing to review 15-plus academic studies/articles; will scour social media for expert advice from others; think seeing a doctor is too much of a pain.
• Social media and health care: millennials are twice as likely to use social media for health-related discussions.
  • 90 percent of Millennial respondents in H&HN study trust medical info. shared by others on social channels. WHOA!
  • 23 percent follow a friend’s health updates and engage accordingly.
  • Only 58 percent of hospitals are currently using social media to promote health and wellness.
  • Cleveland Clinic and Mayo Clinic is the best according to The Advisory Board.
    • Great social presence: Create a relationship, give them a reason to come back, give tips of wellness, hospitals cannot generate a demand that’s why we need to build relationships when they do need us; need to be a part of their daily lives using social media.
    • Cleveland Clinic posts wellness tips six times per day. Short videos, infographics, great headlines and great photos.
    • Health Blog called Health Hub (Cleveland)
    • Content is king. Goal is to provide a “service” to their followers: don’t talk about themselves at all; focus on actionable items.
    • Rules of engagement: show don’t tell; follow in real-time – then react; more is better, info. matters – want useful info; don’t neglect traditional; multi-screen (responsive design – mobile) is key; change is the only constant; keep it real)

For more information or to contact Tamalyn, email her at TAMALYNP@BVK.COM