Millennials are here. Are you ready?

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I am from Generation X… I still search for the phone number on the ‘Contact Us’ section of a corporate website. Millennials though are the ones, who were born in Dot Com era and grew up with Internet. Judging by my own children, these are the people who chose Snapchat, Twitter and WatsApp over phone. And if you Skype them , you must be their grandpa or granny.

According to PwC report, 48% of population are those born between 1977 and today and by 2020 50% global workforce will be Millennials. What’s more important – those Gen y and Gen Z are increasingly becoming your customers and consumers. Accenture reports that Millennials already spend $600 bln every year in the US alone.

More than 85% of them have a smartphone  and touch it at least 45 times a day (Nielsen) and five in six Millennials engage with companies over social networks. Did you know that live chat has the highest satisfaction level among consumer communication channels with businesses? and that it’s followed by email, apps and social media? Telephone and SMS are the least preferred! Even post has scored better.

Is your business ready to communicate with customers and consumers over digital channels and social media?

All the companies I worked for and with are far from it. Many still believe phone and email are the channels for customer service. In sales, the situation is even worse. Many companies still rely on sales rep face to face interaction and investment in digital channels and social media interactions is very limited, if not zero. There are big businesses, who still wouldn’t know what people post on twitter about them. And some are falling into trap of choosing the right solution… Bad news – when it comes to shopping, Accenture found that 68% of Millennials demand an integrated, seamless experience in their quest for the best products and services. New type of customers and consumers expect service to be agile = that is, being able to start an interaction in one communication channel or touch point and complete it in another. In fact, mobile is on a rise since 2007.

The Millennials are here, they are rapidly mixing into your marketing and sales equation. 91% of them sleep next to a smartphone, they are twice as likely to chat than to call. We better get our communication and sales channels ready.

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