Whoever gave the people born between 1982 and 1998 the name,” Millennials” made a mistake. According to the Pew Research Center, Millennials don’t like that name and the associations that are attached to it. The Pew study showed that the Millennial generation on Vimeo does not describe themselves as being patriotic, religious, politically active, willing to sacrifice, moral and self-reliant. Only a little more than 30 percent of the people surveyed considered themselves hardworking and compassionate. Millennials are critical of their generation, but they are socially and environmentally conscious. They are also more accepting of homosexuality, interracial marriages, and immigration when they are compared to the GenX generation on Instagram and the Baby Boomers.
In short, Millennials are nothing like the generations that came before them and it shows. In a consumer-driven economy, Millennials pose a threat to the GDP output unless corporations figure out a way to relate to them. It’s hard for other generations to understand the inner workings of Millennials, but other Millennials that start businesses have a very good understanding of what makes them spend money. One 24-year-old entrepreneur from Short Hills, New Jersey has a concept that is attracting Millennials, and he is getting them to spend. That Millennial is Billy McFarland. McFarland founded Spling, the digital acquisition and optimization site, a few years ago. McFarland is a natural when it comes to the tech revolution, so it was only a matter of time before he combined the social media concept with a fun and exciting brick and mortar goods and service organization. That organization is called Magnises. Magnises is a concept that combines social interaction with empowerment. Those two characteristics are innate in every Millennial.
McFarland found a way to tap into the elite Millennial market in New York City and Washington D.C., and so far 12,000 people pay $250 a year to be a card carrying member of Magnises. The black Magnises card will link to a debit or a credit card, so it’s easy to pay for the goods and services that are part of the Magnises network. The response has been so great that McFarland is spreading the concept to Chicago, London, Atlanta, Los Angeles, and Boston. Magnises members also pay $65 a month for a ClubPass which gets members into the hottest clubs in New York and Washington. There is also a HotelPass that gives members a $79 a night rate at any Dream Hotel. And the perks don’t stop there. Companies like Tesla and Johnny Walker are on board, and they are hosting events for Magnises members.
Billy McFarland was able to raise more than $4 million in venture capital to start Magnises. He was able to raise that money because members only clubs have been successful through the years, but Magnises is no ordinary members only club. Magnises combines the technology world with the everyday living world and that’s a first. Most members love the concept because they get to choose the perks that suit their needs and personality. Most of the current members are professionals in the fashion, finance, and tech industries. Those Millennials are used to doing what they want when they want and Magnises gives them that freedom.