Customer service is an essential part of any business organization and it can become a lot easier to deliver if businesses are more attentive towards the behavioral traits of consumers. Generation Y, which consists of people born during the late 80’s to early 90’s, has witnessed an increase in its spending power. According to a study done by Oracle, Generation Y is expected to surpass the spending power of Baby Boomers at $3.39 trillion by 2018.
Generation Y believes in spending, given that the service they are provided is exceptional. According to a study published by Pew Research Centre, Gen Y (53.5%) has exceeded generation X (52.7%) in terms of workforce and according to Time Magazine, by 2025, 3 out of every 4 workers would belong to Gen Y on a global scale. Generation Y is essential to business and it is vital to have a plan devised which would specifically cater to their needs.
How to cater to the needs of Gen Y
Catering to Gen Y might seem like an ordeal, but the important thing to remember is that this is the generation which grew up with computers and laptops and for them, not being tech-savvy is a problem.
Instant response: Generation Y isn’t one to sit around and wait for long if they think that a business is not treating them fairly or isn’t living up to their expectations they would cut ties with it immediately. The best way to make sure that your online customers are getting answers is to set up live chat service on your website. Live chat would mean that the customer would be able to talk to a representative instantly and the problem would be rectified in a timely manner.
Accessibility: Gone are the days when you could expect your customers to hold for the operator. Gen Y wants easy access to the business in case they want to make a complaint or inquire about any matter. They prefer to stay in touch with the business using apps, social media, digital forums, etc. Entertaining the demands of the biggest future economy should be the main goal.
Social media presence: In the current era, it is important to be easily available if you want to stay relevant. Gen Y expects businesses to be dynamic and up to date and, therefore, having access to various channels of media is expected. A study conducted by U.S Chamber of Commerce Foundation found out that 59% of Gen Y relies on social media and word of mouth for information so they are more likely to make decisions based on the idea prevalent in social media or among their peers. Businesses can appeal to the emotional, intellectual and creative side of the consumers using social media and it can be a huge benefit for them overall.
Tailoring Systems to Meet their Expectations
Customized Solutions: Generation Y wants to be treated as individuals, not a category. It is essential to give everyone a customized experience. Efficiency in resolving issues is valued by Gen Y so businesses should try to speed up their complaint resolution processes.
Engagement: The basic purpose of social media is to help businesses and consumers connect. A research by NewsCred declares that 62% customers believe online engagement is the key to brand loyalty. They want to be a part of the important decisions and they want their opinions and suggestions to be taken into account. This can be a good platform to learn more about your customers and their expectations.
Feedback: Feedback is essential and with Gen Y it is more likely that they would respond to your brand online. To make sure that you get the required feedback, the best thing would be to put up surveys on your website or ask them to rate your service. Emails also work effectively but expecting them to listen to your automated response on the phone and pressing buttons to register their response is a lost cause.
The key to serving Generation Y is to stay on top of technology and allow change to take place. It is time to let go of the old and outdated procedures and become more tech-savvy. For Gen Y customers, it is very important to be appreciated and therefore going the extra mile for them would always pay off well. It would be ideal to train your employees to be accommodating, patient and all about customer care.