How Wellness Companies Can Reach a New Millennial Audience By Addressing Their Gap in Healthcare
Updated: Nov 24, 2019
Market Well Report Week of 11/1719 - 11/23/19
Across all of the industry research this week was an overwhelming look into the state of millennial health. Though they are the most health conscious and wellness driven consumers in history, they are also becoming one of the sickest.
Blue Cross Blue Shield just released a report stating that millennials might be spending their money on the wrong types of wellness products, following 'trends' instead of truly healthy behaviors. This is leading to higher rates of disease, less money to be spent within the economy, and an overwhelming decline in mental health due to financial reasons.
The purported increase in spending to around $4,500 yearly was also echoed by a report from Bustle. Their argument also raises the consideration of the culture of millennials. The start up scene and world of connected-ness is driving increases in stress, mental illness and depression which ultimate manifests as physical symptoms.
And as millennials are working more for less pay, that usually comes with a refusal to pay for health insurance, thus a lack of attempts to take care of their ailments.
While this is an angering stat, now is the time for the #wellness world to take advantage of tweaking their story to target this population to help them for the better.
As we know millennials are more apt to spend on wellness services, this market is already ripe for inclusion. It's just a matter of tweaking your message to speak to their actual health, instead of simply the benefits of what it is you offer.
Replacing the aesthetic benefits of what you offer, ie: weight loss, toning, etc, your message needs to speak to the 'holistic' benefits of your service. Educate this population on how it will help them maintain overall health, contribute to them feeling good, encourage sound mental health, and act as a form of stress relief and prevention.
As this generation seeks alternatives to formal healthcare to aid in their wellness, they will be looking for messaging of brands that speak to their overall most pressing need.
Welliance is a consultancy and advisor for founders and start ups in the wellness industry helping them grow and stay relevant in today's most dynamic marketplace. To schedule an audit chat to see how we can grow your business, drop us a line here: www.wellianceamerica.com/contact/