Don’t give up on Millennials yet. They are worth the effort, and we have seen a financial services client of ours transform the way they approach this valuable demographic with the best video conferencing solution available today.
So many businesses have recognized that Millennials are the key to sustaining and increasing revenues. Studies estimate that this segment of the population will comprise close to half the workforce by 2020. By that time, the income for their generation will be tied for first with Generation X – at slightly over $6 trillion, with projected increase to $8.3 trillion after that.
Which businesses will command their trust, loyalty and financial assets?
Acquiring and retaining Millennials looks like an uphill battle too. They are more likely to switch careers than any generation before them, and they are equally wishy washy with jobs and financial institutions. But the $8.3 trillion question is: do they switch because disloyalty is in their nature, or because there are few businesses who play well with them?
This demographic can have hefty expectations for the companies they support, such as 24-7 customer service, from anywhere in the world, available through “omnichannel” access. They want you to meet them wherever they go, whenever they have a spare moment.
Some journalists and business leaders have characterized these expectations as “unrealistic.” But they do not fully appreciate one simple fact: this generation is only asking for the same connectivity to businesses that they already enjoy with mobile apps, games, and other cloud-based technologies.
We have seen the SMB technology market explode with great options that deliver the connectivity that Millennials want at extremely affordable price points. Sorting through all the options, we have identified iMeet as the best video conferencing option to meet your needs.
Many of our clients are using this powerful cloud-enabled business tool to drive quality interactions with both new and old business. Come back next week for a peek at Innovative Financial Group, who adopted iMeet in May of 2014 and is now offering financial advice to Millennials wherever and whenever the customer wants.