The Investment World: How Millennials Are Changing the Game

Watch out for the investment world, there are new kids on the block: The Millennials. Well, they are not exactly kids but employed adults who are taking over the world of business and investment. Each generation has its own interests that motivate them to invest which means that to attract Millennial investors, you need a brand new set of strategies. To find the right strategies, you first have to get to know this generation, so here are a couple of pieces of advice that can ultimately concoct those strategies.

Standing on their own two feet

While their parents’ generation’s primary goal was to get a steady job and stay at it throughout their entire career, the Millennials’ stance couldn’t be more different. They change their jobs often in search of better conditions and also more opportunity for growth which means that keeping them engaged at work is a crucial task for employers.

This strong streak of independence has made them willing to take more risks when it comes to investments. Even in cases when they lose some money, they will soon be on their feet. In addition to that, they are very entrepreneurial and self-sufficient and weary of financial advisors. They believe that advisors are more interested in their own agenda rather than helping their clients which is why they mostly don’t like using their services. To attract millennial investors, you need to work on building a relationship of trust and respect with them or otherwise, they will take their money somewhere else. 

A generation of techies 

Most members of this generation have witnessed and actively participated in the advancement of technology which makes them less reluctant to use it in their everyday lives. They are highly dependent on technology and find multiple uses for it and are among the first to volunteer to test a new software tool at work. However, during the last decade, their attention turned to cryptocurrencies as a new area of investment strongly leveraging technology.

 Cryptocurrencies, among them bitcoin as the most prominent one, are digital or virtual currencies  that can among other things be used to make online payments. you can even buy bitcoin with credit card. Most of  them are decentralized which in the simplest of terms means that they  aren’t regulated by any bank and that their value is determined by other  parameters. The premise that everyone can mine (i.e. ‘earn’ them) is exactly what attracts Millennials to invest in cutting-edge cryptocurrency mining equipment. The best move that a business can make nowadays is to provide them with ample opportunity to invest the cryptocurrency coins they mined and traded.

Transparency is their policy

As mentioned, Millennials are rather honest and if they feel an ounce of insincerity, they will change their grocery store, dentist, even the company they are currently working for. A long time ago, certain areas of the investment field were considered shady but that has changed even since Millennials became a part of the investment forces. 

Additionally, although they are ardent lovers of technology, they don’t enjoy a completely digital touch to their investments. They like to communicate so this is something to work on if you wish to attract Millennial investors. Strive to stay in touch with them, and don’t be afraid to wander off the topic of investment because your genuine openness and interest can make all the difference in creating a rapport. Also, avoid calling them on the phone since they prefer written forms of communication such as text messages and emails, so all that remains is to assess which channel to use in which situation. 

Raising interest in social causes

This generation cares deeply about the environment and they speak frankly about the questions of civil rights, racial discrimination, healthcare, education, and employment. They have an amazing ability to walk in everyone’s shoes and feel deeply the injustice.

This is why a lot of them are interested in impact investing, which means they expect their investment to also have beneficial social or environmental effects. Just as they would prefer to purchase products and use services of brands that raise awareness about climate change and have an eco-friendly offer, they also wish for their investment, besides earning them money, to serve a higher purpose. 

The world of investment is changing and all thanks to the new generation that is taking over. Millennials are the new entrepreneurial force which is not afraid of risk and losing because they don’t stop until they make it. They are passionate about technology but are also very people-oriented which is why they also deeply care about injustice. This is why their investments often have a social background. Transparency is a vital ingredient so it is necessary to be open with your Millennial investors and by implementing at least some of these strategies, you will attract Millennials by the swarm. 

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