{"id":8670,"date":"2017-06-13T10:16:32","date_gmt":"2017-06-13T10:16:32","guid":{"rendered":"https:\/\/cgs.singa.ro\/customer-experience-guide-what-millennials-expect-in-2016\/"},"modified":"2021-11-24T09:38:05","modified_gmt":"2021-11-24T09:38:05","slug":"customer-experience-guide-what-millennials-expect-in-2016","status":"publish","type":"post","link":"https:\/\/romania.cgsinc.com\/en\/customer-experience-guide-what-millennials-expect-in-2016\/","title":{"rendered":"Customer Experience Guide: What Millennials Expect in 2016"},"content":{"rendered":"

When it comes to customer service, the shift towards a superior customer experience is no longer optional. Consumers expect a seamless, cross-channel, real-time experience and companies and brands, B2B and B2C alike, recognize that they must become customer obsessed if they want to keep and gain market share and grow their businesses.\u00a0In our digital economy, customers have unprecedented access to the tools and the resources\u00a0that empower them to make better-informed decisions about where they take their business and research shows that the customer experience plays a key role in those making those decisions.\u00a0And Millennials are at the forefront of all the action.<\/p>\n

In this guide we will delve into the current state of customer service and customer experience<\/a> and how it pertains to\u00a0Millennials. We will investigate facts (and myths!) about\u00a0Millennials\u2019 behavior on and offline as it relates to purchasing to gain a better understanding of their preferences. We will also discuss how\u00a0Millennials themselves are shaping and influencing the very customer experience practices that cater to them. Then we will outline the relevant technologies and technology trends that influence and define the\u00a0Millennial customer experience before laying out suggestions for the digital transformation of your business and defining best practices for the application of digital customer data.<\/p>\n

Stick with us for this\u00a0guide. It\u2019s loaded with\u00a0interesting data on today\u2019s digital consumers and\u00a0Millennial consumers as well as\u00a0some\u00a0useful statistics around customer experience.<\/p>\n

UNDERSTANDING<\/strong>\u00a0MILLENNIALS<\/strong><\/h3>\n

Millennials. Sometimes they get a bad\u00a0rap. There\u00a0once\u00a0was a time when they were (incorrectly) perceived to be a\u00a0narcissistic and\u00a0apathetic bunch because they did things differently. Fast forward to present where\u00a0Millennials are widely recognized as the most informed and tech-savvy generation to date, consuming\u00a0enormous\u00a0amounts of online\u00a0content\u00a0and\u00a0data,\u00a0and\u00a0thereby\u00a0make incredibly well-informed decisions about where they spend their time and their money.\u00a0Millennials are\u00a0now the largest generation in the United States and they are also the most\u00a0educated and diverse generation in the history of America.\u00a0[1]<\/sup><\/p>\n

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Millennials are\u00a0also\u00a0the first generation of digital and social natives.\u00a0They grew up with computers and the internet, and Google launched when they were still relatively young, so they have always felt comfortable conducting comprehensive online research.\u00a0They’re always connected and it is\u00a0second nature to go online with whatever device is most convenient at the moment to find the solution to a question or a problem.\u00a0This digital first nature has had profound effects on the state of customer experience, which will be discussed in the next section.<\/p>\n

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For Millennials, technology is not a part of life, it is life. Millennials increasingly jump to adopt new technologies that meet their standards for disruption and innovation. More than 50% of\u00a0Millennials plan to buy connected \u201cInternet of Things\u201d devices for their home within the next five years and 7 out of 10 Millennials prefer to use mobile apps to manage their health<\/a>.\u00a0[2]\u00a0 <\/sup>They use social media more frequently than other generations and are even more likely to sleep near their cell phone.\u00a0[1]\u00a0<\/sup><\/p>\n

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Millennials also hit the workforce during the 2008 economic downturn and it was a formative experience for many. Some may have struggled to find a job in the first place, and most\u00a0Millennials entered the workforce with significant student debt. Millennials work hard to earn their money and they are very careful about how they spend it. The rise of smart, connected devices coupled with the expansive popularity of social media has empowered customers to expect and demand more in return for their spending. At the same time, these trends have given brands and companies an exciting new opportunity to rise to the occasion and\u00a0beat out their competition by providing\u00a0delightful customer experiences.<\/p>\n

CUSTOMER EXPERIENCE IN 2016<\/strong><\/h3>\n

Customer service no longer lives in a silo. Companies\u00a0need to be\u00a0focused on delivering a consistent, cross-channel customer experience\u00a0at all levels\u00a0of the organization. In the connected digital economy, any poor customer experience has the potential to do extensive damage to a company\u2019s reputation and even their bottom line. In the U.S., poor customer services costs businesses $41 billion annually.\u00a0[4]<\/sup> That statistic makes sense when you understand customer behavior. 89% of consumers stopped doing business with a company\u00a0following\u00a0a poor customer experience [5]<\/sup>\u00a059% of 25-34 year-olds share poor\u00a0customer experiences online\u00a0[4]\u00a0<\/sup>and 95% of consumers talk about poor customer service experiences with other people.\u00a0[6]<\/sup><\/p>\n

Even if a poor experience doesn\u2019t go viral, it\u2019s still bad for business as consumers tend to trust word of mouth from a friend or family member above all else, especially above advertising.\u00a0The\u00a0American Express\u00a02014 Global Customer Service Barometer\u00a0demonstrated that\u00a042% of consumers would try doing business with a new company as a result of positive\u00a0word of mouth from friends and family.\u00a0[6] \u00a0<\/sup>And\u00a0Millennials spend nearly 18 hours a day consuming media,\u00a0which is\u00a0mostly user-generated content created by peers. [7]<\/sup><\/p>\n

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Millennials have high standards for fast and consistent cross-channel, cross-platform experiences, and they are quick to adopt technologies and connect with brands that can meet those standards.\u00a0They expect a\u00a0consistent experience across all touch points\u00a0and they can easily take their business to a competitor\u00a0if they can provide\u00a0the fast, innovative experience that they crave.\u00a0A\u00a0consistent, multi-channel customer experience increases customer satisfaction and retention and it\u00a0can\u00a0drive increased revenue. There is also an enormous potential to gain valuable insights\u00a0every time there is a customer interaction that can help your business get ahead of the customer experience curve. Customer experience has truly become a competitive advantage.<\/p>\n

Customer Experience Fast Facts:<\/strong><\/p>\n