As our modern world becomes increasingly digital, millennials are key players in its evolution. Frequently cited as the greatest population of smartphone users, their digital preferences also apply to their buying habits. Accenture states that millennials currently spend $600 billion per year in the U.S. alone, making this generation a prime customer demographic with tremendous spending power. Here are five millennial digital trends every brand should consider when optimizing sales and marketing practices.
They prefer digital shopping to brick and mortar stores
While in-store shopping is still an important part of the customer experience across age groups, millennials seek a digital experience. According to research conducted by Big Commerce, 67% of millennials prefer to shop online rather than in-store. This means that more than ever, it’s essential to optimize the mobile experience with features that facilitate the sales process. Mobile customers should be able to chat with agents http://www.vocalcom.com/en/mobile-customer-service/ for assistance, make purchases easily, and receive confirmation information just as they would in-store or on a desktop device.
They seek great experiences, not just things
As a socially conscious and adventure-seeking generation, millennials seek memorable experiences. This is also true when it comes to making purchases. A survey conducted by Factory360 found that 98% of participants felt more inclined to purchase a product when they participated in an experiential marketing campaign. It’s therefore critical to humanize and personalize marketing practices through means such as contests, rich video content that integrates product information, and invitations to exclusive events sponsored by the brand.
They love to talk and purchase on social media
It’s well known that this generation loves to communicate on social media. However, those chats can easily lead to sales when positive experiences are shared or great customer service is delivered. Indeed, Big Commerce reports that 51% of millennials are likely to make purchases on social channels. Social conversations—both peer-to-peer and customer to brand–can drive potential customers to purchase and should be taken as a serious form of customer engagement.
They want products of value
Millennials seek value in two different ways. A research report from Adroit Digital cites that price point is the most influential factor for millennials, suggesting that cost does matter. However, getting the best deal is not always enough: Millennials will spend more on brands that offer some kind of emotional value as well. For example, eMarketer found that 60% of this demographic feels an emotional connection to their favorite brands, further suggesting that brands that make millennials feel good about their lives win loyalty even when prices may be higher.
They seek real-time answers
While timeliness is a must for customers of all ages, millennials may not purchase at all if their time is wasted. For example, Accenture found that 89% believe having access to real-time product availability information would influence their purchasing decisions with regard to which stores they would visit. While rapid customer service is essential, updated brand information and quick access to information are also crucial to driving millennials to make purchases in the first place.
Millennials may represent just one customer demographic, but their digital habits and desire to spend money on the brands they love make this generation influential to the future of customer experience and brand success. To deliver the very best in customer service, learn about Vocalcom, a global leader in cloud-based contact center software solutions and premium omnichannel customer interaction platform for great customer experiences.