Millenials also known as generation Y or the net generation were born in the digital age. To them, the digital revolution does not represent disruption. It represents the norm and, to a significant degree, their generation’s opportunity. As Millennials develop more purchasing power, they’ve become an increasingly important demographic for enterprises to engage and understand. This is due to two important factors: First, the emergence of new technologies and social channels has Millennials connected 24/7. According to Neilsen, Millennials own more devices than previous generations. They are connected and available wherever they are and expect the same from friends, family and even enterprises. Not wanting to risk getting left behind, enterprises rush to establish their presence on these channels, while also maintaining their continuous presence everywhere else. Second, According to the American Press Institute, Millennials are not particularly worried about privacy. Just 2 in 10 say they worry a good deal or all of the time about their information being available online. The most common response, at 46 percent, is worrying only a little. And 34 percent do not worry at all.
Even though Millenials spend most of their time on social media, that doesn’t mean those are the best channels for enterprises to drive sales.
The sheer volume of information available online means that 41% of millennials suffer from information overload. Enterprises have to keep text concise and to the point, and break up important ideas across multiple pieces of content. What better way to do this than SMS messaging?
According to a national survey by Open Market in USA, Millennials prefer SMS over email, phone and social media to communicate with businesses. Still, most businesses aren’t regularly integrating SMS into their marketing plans. SMS messaging appeals to the millennial audience due to its convenience, speed and flexibility. SMS such as fraud alerts and payment reminders from financial institutions are a great example of this. 48% of the millennials surveyed said they’d prefer to receive such of reminders through SMS than any other channel. Appointment reminders and delivery notifications are also popular, with over half of respondents saying they would like to receive these via SMS over other options.
Millennials also want to be able to send SMS to enterprises instead of having to call them for assistance. Enterprises can take advantage of this by using the two way messaging solution which allows enterprises to send messages and receive instant replies, follow up on responses with ease, collect data and track who has responded and when. Unfortunately, too many enterprises are missing the mark. When looking at the demand versus today’s availability of SMS messaging by businesses, there’s a wide gap. 20% of millenials currently don’t receive any SMS messages from businesses at all.
Since the millennial age group is notorious for ignoring phone calls and opting out of e-mails, SMS is an obvious solution that meets their communications preferences. This would not only make customers happy, but also save the business money in terms of support costs.