Ready or not, the "M" word is here to stay. And many tire dealers not only must add it to their vocabulary, they also must figure out how to adapt it to their workplace environment.
Yes, the "Millennial" has become an integral part of a dealership, on both sides of the counter. And the sooner Baby Boomers and Generation Xers act on this, the better for their bottom line.
The Millennial generation, those aged 19-35, accounts for a growing number of customers, is the most educated and, according to statistics, now outnumbers Baby Boomers (52-70) and Generation Xers (36-51) in the workplace.
In order to thrive in today's market, dealers must accommodate this booming group both from a customer and an employee standpoint.
Before Millennials enter your shop, you can guarantee that they will have thoroughly researched your shop as well as the product they intend to purchase.
They drive significantly less than other generations, so they will come to your shop prepared. They will have used their smartphones, tablets or other mobile devices to visit your website and read reviews of your shop.
You have a big advantage: Most Millennials don't trust big corporations and want to support local businesses.
You, as a shop owner, must make sure your firm's website is attractive, mobile-friendly and offers plenty of photos of you and/or your workers.
In fact, Matt Winslow, an instructor at the Baltimore-based Automotive Training Institute, says Millennials "look at the words, but they read the photos."
Dealers should have an active social media presence to keep this group engaged.
In order to attract and maintain Millennials as employees, dealers must realize Millennials are seeking different perks than previous generations. While they desire competitive compensation, they also prefer a fun and high-tech environment that allows flexible time for family events, onsite training and tuition reimbursement.
Should you succeed, Millennials will be quick to share their positive ratings digitally. Call it "word of thumb."
Dealers must change their culture in order to bolster that other M word that is crucial to their business — Money.