CX Weekly: Millennials tell us five things they expect from their favorite brands

By Johan Moreno | Social Media Manager (J.D. Power’s Resident Millennial)

According to a new report from Ribbit Capital, millennials are expected to control as much as $25 trillion of wealth globally by 2030, with their baby boomer parents expected to pass down another $30 trillion by 2050. That’s a whole lotta moolah.

Spending power will shift to millennial consumers, who expect their favorite brands to play a different role in their lives than their parents do. We asked four different millennials what they expect out of their favorite brands, particularly in the world of CX. Here’s what they said…

5. They want their favorite brands to be on social media

“I hate when I contact a brand on social media and they never respond to me,” one millennial consumer told us. With seven in ten Americans using social media as a way to connect with one another and engage with their favorite brands, social media has become more than a trend and is now a critical communication platform for brands to connect with their customers, particularly with younger consumers. Remember, millennial consumers grew up with social media and has been woven into their lives. These are the same consumers who use their Instagram the same way baby boomers collected photos in an album. The same millennial consumer told us that it’s likely that they would consider another more forward-thinking brand in the future.

4. They want their favorite brands to be socially conscious and engaged

“I would 100 percent be more likely to support a brand that believes in using their corporate power to change the world,” another millennial consumer told us. It’s no surprise that according to Forbes, 81 percent of millennials expect their favorite companies to make public declarations of corporate citizenship. This specific consumer was partially influenced to buy a Subaru automobile because the company supported animal rescue efforts. “I want to know that my hard earned money is going to something greater than someone’s pocketbook,” she added.

3. They want their favorite brands to always be there

“I was having issues with logging into my Netflix account a few weeks ago at midnight,” another millennial tells us. “I thought it would be crazy to contact their customer support team that late, but there was someone there, helping me out.” It’s important to know when your customers will need you the most. In the case of Netflix, the company knows that their customers may be watching the service at any time, in any place. Netflix knows that millennial customers don’t want to work with business hours, they need to adjust to their customer’s schedules.

2. They want to be brand advocates

“I will literally shout to the rooftops how much I love Southwest [Airlines],” another millennial tells us. “I’ve had so many bad experiences with other airlines, especially with hidden costs, but Southwest gives you amazing value and I will always love them for that.” Consumers want to love the brands they engage with everyday. For example, there’s a reason why millennial customers are willing to drive a bit further each morning and pay a little bit more for Starbucks Coffee. The coffee company has been able to cultivate a legion of brand advocates. They encourage their baristas to get to know their regular customers and have started a successful customer loyalty program.

1. They want to be heard

“I want to be more than just a transaction. I want the sales representative to hear me out and see if the product they’re selling is right for me. If they sell me something that I don’t actually need or they’re really pushy, there’s a good chance I’ll just take all my business elsewhere,” another millennial consumer tells us. It’s important to find the right product for your customer, regardless of age. More important, it’s critical to actually listen to customer feedback to improve your product. Those who adjust with time to customer demands will win. The dollars will follow to brands who constantly evolve to their customer’s ever-changing needs.

NEWS FROM THE CX INDUSTRY

New York’s MTA is transitioning subway station agents into customer service ambassador roles, in its mission to improve customer experience. — CURBED NY

When customer experience blends into marketing: Zappos launches ad campaign centered around its customer experience. — MEDIAPOST

A small business owner in Columbus, Ohio hopes to revolutionize its car wash business by focusing on customer experience. — COLUMBUS DISPATCH