Imagine that you want pizza from your favorite restaurant. You send a pizza emoji through Facebook Messenger to the restaurant. And that specific emoji instructs them of your pizza preferences—size and toppings. Soon after, a driverless car brings the pizza to your door.
We all could imagine the benefits of using a social platform and some form of instant communication to order food without having an in-person interaction. Millennials, however, will increasingly demand these types of interactions.
According to the US Census Bureau, there are more than 83 million millennials in the US, and only 75.4 million baby boomers. For your business to thrive, you must cater to the preferences of the majority. And there are five tactics your business can use to give millennials what they want and earn their loyalty long term.
- Understand and accommodate changing privacy preferences. Millennials have fewer privacy concerns than consumers from earlier generations. Many even prefer to use their social media credentials when seeking services. When they’re pleased with your offerings or service, they’ll let the world know by posting reviews and “likes” on social media. Disappoint them and they’ll let people know that, too. Provide social login as an option and deliver the type of service that keeps the “likes” coming.
- Share, don’t sell. Millennials prefer sharing and subscribing over buying. This is evidenced by the explosion of membership and subscription-based services. You can subscribe to everything from clothes and video games to career coaching and transportation. While the idea of renting clothes may seem odd to older generations, millennials see it as a sensible way to stay fashionable. Find ways to make your offerings more than a one-time purchase.
- Deliver instant access to products and services. Millennials get a bad rap for being impatient consumers. By why should they wait? No generation likes to wait. Millennials know that if you can’t deliver the service they want quickly one of your competitors will.
- Invest in future platforms. Can customers do business with you via an app, social media, messaging and more? That’s what millennials expect. You need systems that can provide an integrated 24/7 contact experience. For example, the right technology can help you deliver customer service based on artificial intelligence (AI). Millennials are comfortable with AI; many would prefer to interact with an AI-based agent than a real person—especially if that means they don’t have to wait.
- Help customers contribute. Millennials are altruistic; they want to make the world a better place and help others. That’s part of the reason why they’re so eager to provide product reviews. They want to help others find great products and avoid disappointment. Make them part of a cause and you’ll earn their loyalty.
At some point, a buying decision comes down to a choice between two options. Earlier generations might have made their final choice based on price, but millennials want to do business with a company that shares their values. Cause-based campaigns resonate with them, give them a reason to do business with you and make them “like” you.
Businesses in every sector are scrambling to adapt to the ways in which millennials choose products and services, but keeping up is difficult. Download and read “Keeping Pace With the Modern Customer” to learn more about how to deliver the speed and agility millennials expect. This fact-packed eBook explores how companies like yours can build stronger connections to millennial consumers.