It’s predicted that by 2030, millennials in the United States will outnumber other generations by 22 million. This alone is more than enough reason to start building a good relationship with consumers of this age group.
The thing is, millennials, the 16- to 34-year-old demographic, are largely misunderstood. Those older than them—Generation Xers (born 1965 to 1976) and Baby Boomers (born 1946 to 1964)—think they’re entitled, arrogant, and lazy.
These prejudices prevent brands from seeing their millennial customers clearly. A research by Boston Consulting Group showed that many business executives who make critical company decisions have negative attitudes toward millennials. Clearly, this blocks brands from understanding the wants and needs of this young demographic.
Such a narrow perspective can result to huge losses, if not outright failure, for your company. While the youngest millennials may still be dependent on their parents, older millennials have begun to enjoy their financial independence. In fact, many of them are entering their peak spending years, as they make significant life decisions: where to live, what careers to pursue, and where to invest their earnings.
There’s a growing need, therefore, to create products and services that meet the expectations of the millennial generation. But how can you take care of your young consumers if your judgment is clouded by stereotypes? Here are five insights that will help you get over your prejudices against today’s tech-savviest generation.
1. Customer support matters to them.
Millennials view excellent customer service as a proof of brands’ commitment to good performance and high standards. Most consumers from this generation put a premium on a company’s ability to solve difficult problems. Deploying an omnichannel solution is also a great way to empower them and give them more control over how they want to interact with you.
2. They’re assertive.
A study among 600,000 consumers showed that, compared with other generations, millennials are not afraid to voice out their dissatisfaction over brands and their products. As empowered consumers, they know exactly what they want and how they deserve to be treated.
Also, because they grew up with technology and are thus used to instant gratification, they’re less likely to tolerate customer support issues and delays. Rather, they believe that brands should always be able to solve customer issues promptly.”
3. Despite this, they’re surprisingly loyal.
While others think the millennial generation is fickle, they prove themselves loyal. The catch is that they carefully choose the brands they do business with. However, once you’ve secured their approval, expect them to buy from you again. The key here is consistently delivering a hassle-free customer experience and demonstrating your brand’s competence.
4. They focus on a product’s value.
Millennials are wise consumers. They don’t jump into a bandwagon or embrace a trend if they don’t see its relevance to their lives. Instead of letting themselves be swept away by flashy marketing strategies, they focus on a product’s value. As such, they favor brands that deliver superb services such as customer support over those that can’t back up their spotless image with equally great products or performance.
5. The entire consumer journey matters to them.
And this is also why perfecting your omnichannel customer service is crucial. Millennial consumers want their entire purchase journey to be fast, easy, and problem-free. It thus makes sense to assist them in every way possible, and part of that is giving them instant access to your call center. Whether they connect with you via the phone, live chat, social media, SMS, or email—or they hop from one channel to another—you should be able to converse with them continuously.