As a very late Boomer or — as The New York Times columnist Richard Pérez-Peña likes to call us — a Boomer reboot, I find that I have Millennials on my mind all the time! I’m not on social networks for 3 hours a day; I’m just an avid user. I sleep with my smart phone on my bedside table, and I’m a pretty good multitasker. I work with a group of phenomenal Millennials at Forrester, and I now clock more than a year in terms of researching, writing, and speaking about Millennials in the workplace. As I think about our team of researchers, I’m reminded of a Forbes quote of the day that Caroline Robertson shared with me recently: “If you put Boomers and Millennials together in the same place and with the right setting and conditions, it’s amazing how they spark each other.” I wholeheartedly agree.
Check out our most recent report, “Millennial B2B Buyers Come of Age,” and see if you agree. Shanta Samlal-Fadelle and I coauthored this report, which looks at the impact that the heads-down generation is having on purchasing decisions for their firms. Although 73% of Millennials in B2B organizations tell us that they have involvement as influencers or decision makers, our research shows that B2B marketing and sales leaders are not paying enough attention to this increasingly present and influential constituency. In the report, you’ll hear directly from Millennials regarding their engagement and channel preferences, while Shanta and I provide actionable advice on how to fine-tune your approach to attract, rather than repel, Millennial buyers.
If you follow my blog regularly, you already know that I love to travel. And while I’ve had my fair share of travel hiccups (missed flight connections, last-minute assignments to the dreaded middle seat, lost luggage – you name it), I’ve always glossed over these snafus and accepted the fact that traveling inevitably comes with a few small challenges.
Until this year, when I hit executive traveler status on a major airline thanks to the loyalty points I amassed during my trips. Suddenly, my tolerable travel experiences became overwhelmingly enjoyable ones, and I quickly came to love (a word I don’t use loosely!) flying with this airline because of the VIP treatment. My reaction isn’t unique. In fact, it’s characteristic of my generation: Forrester’s Consumer Technographics® data shows that Millennials highly value loyalty programs that reward customers with enhanced customer service and special status, as Millennials cherish this sense of validation and exclusivity.
Specifically, our data shows that the loyalty program reward tactics that work for middle-aged and older consumers are not enough to satisfy Millennials. While customers of every generation want discounts, Millennials also expect loyalty programs to offer a premium customer experience. And what’s more, younger consumers want the flexibility of applying loyalty points to a variety of benefits – from travel upgrades to digital media content to charitable donations – while their older counterparts are happy using their points to get cash back.
We’re all guilty of falling prey to the lure of social media and losing hours to it. But there’s little doubt that social networking also encourages collaboration, creativity, and productivity – especially if it’s used for work. When Microsoft made history this week by announcing its $26.2 billion acquisition of LinkedIn, Jeff Weiner argued that such a move will allow both companies to realize their “common mission to empower people and organizations.” And empowerment in the workplace is deeply attractive, particularly for the rising generation of employees: Millennials.
Forrester’s Business Technographics® survey data shows that younger employees leverage social networks at least daily because they believe this enhances productivity. At work, employees tune into social networks across devices, but most do so on tablets:
In a recent blog post, "Why Millennials Struggle For Success", well known psychologist, author and MacArthur Fellow Angela Duckworth, explores the question many experienced business leaders and managers ask as well: What’s wrong with Millennials? Why do they keep changing jobs? Why do they complain when work needs to be taken home over the weekend? And so on. She asks if it’s because they don’t have enough grit. Duckworth believes the secret to outstanding success is not talent but rather a special blend of passion and persistence called grit. Duckworth developed a Grit Scale and now has scores from thousands of Americans where her data reveal that grit and age go hand and hand.
So what do we do with those Millennials? Today, Millennials make up one third of the workforce and in four years time they will be half. With the average age of the US B2B sales rep at 40 years old, millennial sellers are, or soon will be, the future revenue generators and business leaders for their firms. Smart sales and marketing leaders realize that status quo communication, management approaches and tools will fail to inspire, and are adapting their enablement strategies and tech stacks to resonate with this important group of employees.
You might be on the fence about your wearable device, but how do you feel about that new toy your child is now playing with?
American youth love gadgets – and now, that includes wearables. While some technologies have a bigger impact on parents (like those intended to keep track of youngsters’ whereabouts), other wearables are helping kids accomplish the same results that adults seek from their own wearable devices: a healthier lifestyle, instant education, and pure entertainment.
Among early technophiles, the products are catching on: Forrester’s Consumer Technographics® survey data shows that 14% of US online youth (ages 12 to 17) currently use a wearable device – the most popular being a Fitbit, followed by the Apple Watch (in the US, nearly half of young mobile users own an Apple iPhone). And, as with many toys or fashions among adolescents, wearable preferences differ significantly by gender:
This is a guest post by Danielle Geoffroy, Research Associate on the AD&D team who helps with our customer service and unified communications research.
Do you hear that swooshing sound of a tweet being sent in the middle of a Google Hangout? It’s faint, but strong, and it means they’re coming. Generation Y—a generation raised entirely in a technology-driven world. This new breed of consumers demands more from companies and government agencies, with particularly high expectations for friction-free customer experiences. They’re prepared with knowledge of your company, and your top competitors. In fact, they often have more information about you and your products than your own employees.
This new generation should matter to you, because by 2018, the millennials will surpass the spending power of baby boomers. Remember: there is a dollar value to every positive and negative Yelp review, tweet, and Facebook status they target at you. With so much information at consumer’s fingertips, there is some give with the take. People don’t want to retain all of the information they receive on a daily basis. Striking a balance between the knowledge of your customers, and the methods deployed by your customer support agents, will lead to an enjoyable service experience, and keep you far away from the dreaded viral video of a support request gone wrong.
As the importance of technology to consumers continues to grow, pretty much anyone working for a company that wants to improve their customer experience needs to understand consumers’ technology behaviors. Questions companies ask include: “How did US consumers’ technology use change in 2014?” “Who are the early adopters of wearable devices?” “Are older adults using digital media?” “Are Millennials really ready to cut the cord?” These are just a few of the questions we answer in our newly released report on The State Of Consumers And Technology: Benchmark 2014, US. This data-rich report is a graphical analysis of a range of topics about consumers and technology and serves as a benchmark for consumers’ level of technology adoption, usage, and attitudes. Our annual benchmark report is based on Forrester's Consumer Technographics® online benchmark surveythat we've been fielding since 1998.
A New York Times article, “What Is It About 20-Somethings?” written last summer has stayed with me as I continue to talk with clients about the Millennials and how they approach work life. This article talks about the new growing-up phase of today’s Millennials as a distinct life stage called “emerging adulthood” and relates it to “adolescence,” which was a new term 100 years ago when 12- to 18-year-olds began staying in school instead of starting to work at 12 or 13. Many young people in their early 20s are not following the path of past generations — graduate high school, go on to college, graduate, find a job, marry, start a family, and eventually retire. Rather, 40% of today’s Millennials move back home at least once, have many jobs as well as romantic relationships in their 20s, travel, do what appears like nothing, and go back to school. They are exploring and feel no need to rush to make work or personal commitments. They are the product of their Baby Boomer parents who, although they worry about their children making it on their own, provide support and encourage them to find what’s right for them. Millennials as children were encouraged to explore as they participated in a variety of sports, drama, music, and other enriching children-focused activities during and after school. It’s not surprising that they now want to explore many career and life options and don’t feel any obligation to follow the traditional approaches to adulthood. We also see government regulations allowing parents to keep their children on their health insurance until they are 26.