Millennial Customers

  • Millennial Customers

    Millennial Customers

    Millennial customers are the customers that can be defined as the age group now between 12 and 34-years-old.

    Over 95 percent of the Millennial generation uses a social network- not just to communicate socially, but to gather all sorts of information about new products, services and events in a peer-to-peer environment, and then, armed with this information, more and more consumers are starting to shop online. With this growth in online communication and consumerism, comes the requirement for a customer service model that can deal with the needs and language of the millennials.

    Allying their mind to the infinity, millennials extensively research and follow brands online before and after purchases, making up their own minds about quality, value and customer care rather than being told what they should know through marketing messages.

    Virtually it is very clear that the millennials and the next generation of customers who have never known life without the internet and social media come of age; expectations for personalized, real-time service will only grow.

    Let’s have a look on some latest statistics to consider when connecting with web-savvy Gen Y customers:

    Mobile Usage:

    77% of affluent Americans between the ages of 18 and 24, and 80% between the ages of 25 and 34 own smartphones (Business Insider).

    • One-third of all tablet owners are between the ages of 18 and 34 (Nielsen).
    • 45% of 18 to 29-year-olds who use the internet on their cell phones do most of their online browsing on them (Pew Research).

    Sharing Brand and Service Experiences:

    Sharability of retail experiences is twice as important to Gen Y as it is to Boomers (Brodeur Partners).

      • Half of all bloggers are between the ages of 18 and 34 (Nielsen); 60% of millennials produce and upload online content, including photos, videos, wiki entries, blog posts, micro-blog posts and product/service reviews, compared to 29% of non-millennials (Barkley).
      • While all age groups still prefer direct feedback methods, young adult consumers increasingly choose online public feedback over direct, with 33 percent of the youngest consumer age group (18 to 24-year-olds) preferring public feedback methods and 28 percent of those specifically favoring Facebook. The younger the consumers, the more likely they are to prefer public over direct feedback methods (NICE Survey).

    Channel Surfing:

      • A quarter to a third (25% to 32%) of millennials report using the following alternative channels frequently:
      • On average, 18 to 30-year-olds use 6.3 customer service channels. On a weekly basis, 18 to 30-year-olds use 3.6 channels (NICE Survey).

    Social Customers:

      • When customers have a problem with a product, 71% of 16 to 24-year- olds and 65% of 25 to 34-year-olds search for a solution online first (2012 Sitel Study).
      • 17% of customers age 16-34 said companies could most drastically improve customer experience by responding quickly when I ask a question on Twitter. (Sitel Study)
      • 45% of UK consumers age 25-34 engage in social commerce. By 2021, that percentage is expected to increase to 73% (Barclays).
      • 55% of American adults age 35 and under use Facebook every day (Associated Press CFK Group Poll).

    As the results showing tremendous inclination observed by the youth, it’s a wakeup call for the business mind to re-plan their strategy structures, so as they can emphasis on this generation that started to sound LOUDLY!

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