COMMUNICATION. Boomers & Millennials

Transcription

1

2 COMMUNICATION Boomers & Millennials Millennials (born between 1980 and 2000) use the Web for entertainment (music and movies), socializing, and gathering information. The Internet has entertained, socialized, informed, organized and educated these generations for most of their lives. Baby Boomers (born between 1946 and 1964) want to use their smartphones to access information on mobile-ready sites, as well as send and receive s and texts as optional modes of communication. Texting is often not on the radar of marketers when it comes to this older generation.

3 USE OF DEVICES Communication by Age Age % % % % Send or read a text message Make or receive a phone call using a cellphone Send or read an Message Post or read messages on Facebook, Instagram or other Social Media Use Twitter, including posting or reading Tweets Make or receive a phone call using a business landline Make or receive a phone call using a home landline Source: Gallup September 2014 Sending and receiving text messages is the most prevalent form of communication for Americans younger than 50. More than two-thirds of 18- to 29-year-olds say they sent and received text messages a lot the previous day, as did nearly half of Americans between 30 and 49. Takeaways: 68% (18-29 Text a lot). With Boomers, if your client or colleague has texted you, assume they are comfortable with texting. If not, it s better to avoid it in most business settings.

4 Millennials, currently between ages 18 and 34, wield $1.3 trillion in annual buying power. U.S. millennials are diverse. Nearly 43 percent are non-white and roughly 25 percent speak a language other than English at home. Boomers own a large majority of U.S. financial assets. Boomers and older Americans own 63 percent of all American financial assets, and wield a whopping $3.2 trillion in annual buying power. BIG BUYING POWER Boomers vs. Millennials If there is strength in numbers, the 50+ demographic is a powerful group. At 111 million strong, the 50+ demographic is the No. 1 consumer-age demographic in the United States, exceeding Millennials 75 million. Combined, they represent a huge swath of the nation s wealth. Sources: Entrepreneur.com, US Census Bureau,

5 Don t Be Tone Deaf: Be less casual and a little more formal than you might ordinarily be. Be friendly, but not familiar. Use the Right Medium: Face-to-face Lengthy conversations, emotional discussions Telephone Lengthy, emotional discussions when meeting not possible A powerful tool when used effectively Texting If your customer has texted you, safe to text them back ing Tips: Subject Lines: Use informative words, give directions Greeting: Use formal greeting, Hello, or Good Morning over Hi. Body Copy: Get to the point quickly, be precise, concise. Action Items: Give clear direction as to the actions to be taken. Proofread: Proofread, proofread, proofread. Once sent, it s gone. Clarify and Confirm: Regardless of communication method, always clarify the discussion in other words, then confirm course of action. Trust Your Instincts: If you think you ve been too information, you likely are. If you feel a sentence is not clear, it probably is. Don t communicate until you are sure. TALKING TO BOOMERS Today s Best Practices While individual preferences differ greatly. Some general patterns emerge when communicating with seniors and those in positions of power. Adjust your format, style and tone to best fit the situation. Of course, situations will vary and formality or familiarity will change accordingly. Above are some general tips to consider.

6 Purpose Matters: Millennials want a sense of purpose and feel they are part of something larger than themselves. Communicate context, big picture and importance. Feedback: Performance Clear, concrete, real-time evaluations After-action Offer additional training, education Clarity What was supposed to happen? Why it did or did not. Clear Guidelines: Specificity: Not, ASAP, but instead, Need completion in 2 weeks. Clear Direction: Don't say, Read this and give me your thoughts. Do say, Review this, give me a bullet list of salient points, by Friday at 2 p.m. Inspection: Follow up to ensure guidance is understood and deadline in tact Technology: Millennials are addicted to technology, so use that skill to train other staffers or customers. It also provides them with opportunity to demonstrate their valuable skills. Preferences: Millennials will usually opt for texting or SnapChat to communicate. Make sure they are aware of other communication options. TALKING TO MILLENNIALS Today s Best Practices As of 2015, millennials are the largest age group in the workforce, according to the Pew Research Group. More than 33 percent of American workers are millennials. So communicating effectively with this group is vital. Above are some suggestions and ideas to make your communication efforts successful.

7 The Texts Millennials Find Most Helpful 62% receive product offers or coupons 75% think receiving texts for appointment deliveries, payments, promotions and surveys are helpful. 59% receive account activity, payment reminders, fraud alerts 56% receive order alerts or delivery notifications 51% receive general appointment reminders 32% receive security authentication prompts 22% receive satisfaction surveys MILLENNIAL PREFERENCE Yep, Texting over Talking Source: AmDocs 76% of millennials prefer to receive texts over calls from companies because texts are more convenient and on their own schedule. Although 75% of millennials find text reminders helpful, only 30% receive them regularly. There is a massive opportunity for companies to engage with their customers via texting!

8 Baby Boomers on Board with Technology 83% of those (51-59), 76% (60-69), and 61% (70-87) use the Internet regularly. 87% own a smartphone and 85 percent use it for texting. People send 80 messages each month. CTA 72% that s how much Boomers hold of US disposable income. 71% use variety of online banking services at least weekly 325% more action from a TV Text call to action over web % more engagement from text messaging over or social media BOOMERS AND TEXTING Yep, They Use It Often Sources: Gallup, Pew Research 40 percent of seniors communicate via social media posts regularly with 85 percent texting as well as calling on their phones. Although baby boomers are not yet as active on these channels as millennials, their frequent use of technology means that marketers can successfully reach out to them digitally, too.

9 The opportunity for paid advertising within the mobile messaging space correlates almost directly to the birth of paid social media in the late 2000 s, which is now a $23 Billion+ industry. Adults Spend and Average of 4.7 hours a day on their mobile devices Mobile Messaging Apps take up more and more of that screentime There are 2.5 billion registered Mobile App Users Mobile Messaging Apps Have Surpassed Social Media Networks. 1 Billion users are now using the Facebook Messenger App 1 Billion+ users are now using the WhatsApp Messenger App. MOBILE MESSAGING Opportunities, Strategies As more Boomers and Millennials go through life, smartphone in hand, there are ever-more effective channels emerging for marketers seeking to reach and engage millennials. One of the most promising of these channels is mobile messaging: building a strong presence in the messaging app space and delivering consistently fun, engaging, and helpful content.

10 Everyone s Doing It Text Em WHY TEXT? Open Rates are 11-22% on a good day. Text open rates are 98%, most are read within 15 minutes 93% within 3 minutes. Response Rates when they do respond takes an average of 90 minutes. Text responders do so within 90 seconds. No one goes anywhere without their cell phone (Source: Look Around) Text messaging soes not require a wi-fi signal WHAT TO TEXT Promotions: Text 50 for a $50 Gift Card when you refer a friend Follow-ups: Great Meeting you today! Let s talk next week. Reminders: Your Service appointment is Monday at 10 am. Payments: A payment of $150 is due on April 30. Instant Communication: Your pet is ready for pickup. Your Table is Available! 97% of U.S. residents text 93% OPT-IN for marketing 70% AT LEAST ONCE PER DAY campaigns of U.S. residents prefer to receive SMS coupons CENTRALIZED MESSAGING SMS Offers Opportunities SmartPhones are ubiquitous. Using a simple tool that everyone is familiar with gives you numerous opportunities to reach out to your customers, in a way they are almost guaranteed to respond. Listed above are some impressive statistics and ways to put texting to work for your business.

11 Text Messaging has found its killer application in the service sector of economies all over the globe. Health care, food service (restaturants), financial services, and many others have found it the most effective way to communicate with their clients in real time. Utility clients that employ automated payment reminders saw a 48% in non-payment delinquencies. No-show appointments impact revenue. Even a 5% now show rate can cost a business thousands of unrecoverable dollars Health care providers have found patients who receive text message reminders of appointments far exceed those who receive phone calls. No Mail! One Florida eliminated paper late mailings completely. Saving 47 cents per mailing! Very Easy Automation of database communication avoids utilizing staff making them more productive. REAL WORLD RESULTS Immediate & Effective Communication is a simple concept all humans have mastered. We use language to impart knowledge to one another. Whether it s an idea, emotion, warning or compliment we can easily share the concept. The tools, for doing so, howeverm, have changed dramatically. Above are a few real-world experiences.

12 About the Authors Millennial vs. Boomer Lexy Leedom is the Strategic Peter Salinas is an Coordinator/Project Manager automotive industry Leedom Management communications consultant Group/Textmaxx Pro. A born in the days before the graduate of the University color TV. Having edited of Mississippi she holds a magazines, newspapers, Masters in Accountancy and trade publications for 35 is a licensed CPA. She years, he s witnessed first- prefers texting over phone hand the dramatic changes conversations and . in technology. He still likes to In fact, unless business chat on the phone, but has Alexis Leedom related, she rarely listens to voice mail messages. Peter Salinas learned to love texting, and social media!