Millennials can afford to do anything they put their minds to, including chartering a private jet. This generation has the most influential buying power to date. They essentially control what consumers are offering. Much of this has to do with the power they wield with social media. Assuming a certain demographic doesn’t have the resources to afford your private jet service is going to do more harm than good. With just a tweet through Twitter, a photo on Instagram, or a rant on Facebook can oftentimes make or break a business, brand, or product.
It’s not about what you think a millennial can afford, it’s about understanding what kind of buying power this generation has.
Stop thinking about what a millennial would need with a private jet. The age range for millennials is 22 to 37 years old. That means that a significant percentage of this population is considered Affluent Millennials—professionals with an annual income of $100,000 or more. Much of this is attributed to the technological advancements that have allowed entrepreneurs to make a living directly from their laptop. This includes the technology behind it to make it possible as well as any inherited resources from prior generations. In short, this generation has money to spend!
Still, Why Would Millennials Want to Fly Privately?
The real question is why not? Since commercial airlines have become much more affordable, more people are traveling by air. The increase of passengers flying has made business and First Class much more desirable—so much that people—millennials included, are willing to pay a premium price for more comfort. With the rise of jet-sharing and jet cards making it more affordable to fly privately, the cost for some business and First Class travelers are almost equivalent to the expense of chartering a business jet. For Affluent Millennials who manage corporations that require a great deal of traveling, flying privately is the much more efficient choice for business travel.
Even celebrities are jumping on the bandwagon snapping photos of themselves comfortably seated on a private jet and even using them to promote their creative work. Houston, Texan Defensive End, JJ Watt uses a private jet to promote his brand. Take a look:
ESPN posted KABC’s footage of NBA Champion Lebron James arriving at LAX in a private jet to start his career as a Los Angeles Lakers, and it’s a good looking jet too!
Never Count Out Another Generation Again!
So to answer the question of whether or not millennials can afford to charter a private jet—definitely! Of course, not everyone will be a professional athlete, but you will have Affluent Millennials working in various industries who may require to travel for a living. Then you have those may earn a decent salary and like to travel for fun. Either way, if you’re in the private jet industry, you have a responsibility to put your services in front of these potential buyers and let them know that you exist.
If you don’t have an online presence, you don’t exist as a business. In order to exist as a business, you need customers! Offland Media, a premier digital marketing media company can help get you there. Check out our 5-step strategy, and then call us at 1-800-604-5193 to find out how we can make this all work for your private aviation business. Contact us today and let’s talk!