March 18, 2020
Every business benefits by knowing the audience they want to market to. There’s no sense trying to win people over when you don’t know what these people want. That’s why millennials have become such an important group for the modern business. Millennials are at a point where they’re qualified, earn regularly, and are central to the modern workforce – this makes them ideal for any business who wants to continue seeing profits. But what do millennials want from technology trends and how are businesses responding?
Millennials – or Generation Y – are considered by demographers to have been born in the early eighties, coming into adulthood around the turn of the millennium (hence the name). This means they’re in their thirties right now. They are, as the Wall Street Journal highlights, the biggest working force in America.
The question isn’t why should you as a business owner care about millennials – it’s how could you not? Aside from being the largest working force, they are the first digital generation, who follow technology trends and are fully aware of what the future will bring. And that’s why businesses must begin paying attention to innovations like AI, chatbots, VR and a host of other incredible developments.
Millennials follow and set technology trends. They want the latest version of their mobile phones, they want to be able to use artificial intelligence in their devices and experience virtual reality at home. Businesses must stay informed about these trends and begin making adjustments to their own projects. This encourages interest from millennials and opens up avenues for the business itself to grow, thanks to following the trends set and followed by millennials themselves.
For example, major players like China are taking artificial intelligence very seriously. As MIT Tech Review notes, Baidu, the country’s leading search company, “has had an AI-focused lab for some time, and it is reaping the rewards.” There are marked improvements in voice recognition and natural language processing tech. It’s even helped advertisers. Businesses must begin considering how technology trends like AI can work for them.
Chatbots, of course, are loved by businesses and consumers alike. These are programs designed to mimic human responses as if chatbots were employees of the company the consumer is interacting with. For example, instead of having to wait for a human to respond to a request, you can receive immediate responses from an advanced chatbot that provides just as good information. This is exactly what Clickatell Touch does.
Even banks like Capitol One are trusting the management of consumers’ finances to chatbots. This is what millennials prefer since it’s instant, smart, and they can access it from anywhere. They are also less distrustful of technology than the older generations. Incorporating chatbots into your business would be wise, especially for a generation that is experienced at using the latest digital technology.
Another form of tech that will transform 2017 is virtual reality. Sony’s Playstation VR launched to immense success in Japan and America. But 2016 also saw the release of the HTC Vive and Facebook owned Oculus Rift. Virtual reality is now technology in countless American homes. Businesses can’t ignore this new medium, just as they could not afford to ignore TVs or radios.
We’ve already discussed how artificial intelligence will disrupt the customer service industry – which is something millennials would want. The question any business owner should be asking is how they’re managing the latest tech trends in their projects, in order to meet the demands of the biggest workforce in America, today.