Millennials will drive and serve over 75% of the workforce and your customer base by 2022. This is an important constituency of the future that all of us need to understand. Unfortunately, even the millennials do not seem to understand millennials. There is a lot of “What Millennials Want” material floating on the internet. Let's analyse this question using the backdrop of how millennials have grown up.
I am a millennial & I live and love online
Millennials have been born and brought up in the world of the web. Digital media has formed and sustained their relationships.
Here are some very interesting statistics from a Nielsen study.
Average Time Spent by Generations on Social Media:
- GenX (35 to 49 years) : 7 hours
- Millennials (18 to 34 years) : 6 hours
- Seniors (More than 50 years) : 4 hours
This is just the time on social media and not the total time spent online.
We will talk about the missed engagement opportunity on GenX since they invented the internet. They are more hooked onto it than millennials but a millennial, on an average, spends half of all productive time connecting with the world online.
This is no different from Gen X, which had a lot of literature written about their time spent watching television. Every generation has social aspects that are driven by the connectivity paradigms that exist while growing up. And millennials are no exception. They are online socially keeping up with the world and their relationships.
Where do I float online to be hyperconnected?
I recently observed 2 millennials meeting up and Surprise! Instead of exchanging phone numbers to stay in touch, they exchanged their Instagram and Snapchat handles.
What does that mean for organisations that are looking to tap into this workforce and customer base? Get ready for nontraditional connects. Adopt channels that take you away from the traditional. It will become more important to have an Instagram presence for a company rather than having a phone number.
What device do I use to be online?
The de facto is the mobile phone. The bigger the screen the better. My daughter, a millennial, will sacrifice free time buying clothes, ordering food, listening to podcasts.
Mobile phones are more important than feeding oneself. Greater than the pangs of hunger is the fear of missing out from a hyperconnected generation. A 2017 study estimates that mobile phones drive more than half of the internet traffic. Until someone comes up with a universal personal communications and entertainment device.
How do I interact with millennials?
Studies of millennials pattern behaviour point to some important conclusions on online behaviour:
- 39% of time is spent online is on social media apps
- 10% of time is spent on communications apps
Out of the 39% time spent on social media, a substantial amount is feed-based. Hence, chat traffic is classified as one of 3 following forms:
- One-on-One chats
- Group chats
- My chat with the world
The 3rd aspect is important, where I count my days with the number of likes and views I collect on my posts. So I spend half the time online absorbing and interacting with what my social circle is up to. Besides searching for products, services, reading news, and following my passions.
Brands are also part of this social circle. With online ad-based behemoths of today, like Google and Facebook. It is this pattern and behaviour online that has driven revenues of these giants. By inserting algorithmic driven messages into social streams and feeds.
Personalisation will drive the future. As a result, increasing conversation-based interactions and chat traffic will be the trend to track in the coming years.
"Dump the menu." What??
Companies will have to dump the menu. The menu-driven approach to get to choices and information has been the de facto for the last couple of decades. Interactions will need to be more fluid.
In fact, interactions must be more natural and conversational. Therefore, chatbots will rule while search and retrieval become more pinpoint than listing-based.
If you don't have a chatbot then you should seriously consider having one. Our hyperconnected world wants to interact with your business in a conversational manner. Meanwhile, you can also ensure the right company culture with an employee engagement platform. A platform that helps you hire right, engage right and nurture right.
Found it interesting? You can know a lot more when you talk to our expert Solutions Engineer.