Creacttive

Millennials demand values such as transparency, sustainability and social commitment. In the following article we tell you the characteristics, needs and demands of these new consumers.

The Millennials generation between 21 and 34 years, are young adults were made with the millennium. Currently in Latin America 30% of the population belongs to this group. And according to a projection by the consulting firm Deloitte in 2025 they will account for 75% of the workforce in the world.

To begin with, we can define them as digital natives are characterized by master technology as an extension of your own body. Almost all your basic everyday relationships are mediated by a screen. 59% watch movies online, therefore neither the prime time nor classical advertising are good strategies.

In addition, they are using multiple channels and digital devices for their activities. They have a multitasking behavior, which spend at least seven hours a day to surf the Internet. Thus, companies must use a wide range of channels and devices to establish and maintain new forms of communication with them.

Millennials demand drives the extraordinary growth of mobile applications (in the Appstore are recorded worldwide 5 million downloads daily applications). Given this reality, companies must build and improve the functionality of their mobile applications as they have become a powerful sales tool that improves the shopping experience.

Also, they are extremely social, 80% of Latin American millennials have profiles on social networks and used not only as a means of communication but to consult, share and comment on them. These new consumers are active and before buying seek and listen to opinions, generate and share content and are very sensitive to your online experience. If the experience with a service or services is positive they tend to share and recommend and rely more than the opinion of their friends issued by the own brands to make purchasing decisions.

Finally, we can conclude that this new type of customer does not seek only good care, but requires customization and the company expects that suits your preferences. To meet their demands, companies must extend knowledge about their customers by incorporating social information about them with the idea to bring them more value. Companies must harness the potential of big data (research, analysis, evaluation ...) to see how your customers behave, as this will allow them to expand their knowledge about them and, thus, anticipate their needs.

Source: Forbes