The Shifting Tides of Millennial Marketing

Thought-leaders discuss the importance of prioritising customer experience in 2017.

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This article first appeared on Marketing Exec. The original story can be found here

Advancing technology has enabled new forms of engagement, and has resulted in a variety of ways to interact with your customers. On top of this, the rise of the digital age has seen many organisations incorporate digital into their strategy, however, it is increasingly evident that customer experience must be at the forefront of this change.

Karen Ganschow, Westpac, Source: GMC luncheon

With this in mind, OmniChannel Media and GMC Software hosted an exclusive luncheon in which thought-leaders from the financial services discussed how to provide good customer experience and increase engagement.

Karen Ganschow, former General Manager of Customer Relationship Marketing and Digital of Westpac, shared key insights into the importance of social media and a nimble business approach in providing an effective customer experience.

Catering to a digitally-savvy generation challenges businesses to keep up with the customer’s needs. With mobile devices providing accessibility to mass amounts information, many businesses have started to address customer experience through social media.

“The fact that customers are not tidy, they don’t stay in one place or use one digital platform; should be recognised.”

– Karen Ganschow

The Millennial generation is particularly reliant on social media as a news source and, as a result, businesses must engage with customers through digital platforms such as Facebook and Twitter.

“We get our news first in social media and that’s creating a content bubble. We get what we interact with. Facebook and Google look at what we respond to and serve that up for us,” said Ganschow.

Businesses should use social media to collect data on customer interactions. Following the example of Facebook, businesses can use this data to personalise the customer experience by targeting individuals with particular news stories.

However, predicting customer behaviour is not always a simple feat. Ganschow argued the evolving digital environment means that agility is vital to a business’ success.

“The fact that customers are not tidy, they don’t stay in one place or use one digital platform should be recognised.”

Finding a balance between a flexible business culture and analysing customer data will ultimately lead to success. Looking at this in more depth, the table went as far as to argue that customer experience will begin to trump other factors such as price.

Nick Dempsey, General Manager of Sales at GMC Software, explained how priorities may begin to shift towards customer experience in the next few years.

“We’re still a little bit too focused on the product prices as opposed to the experiences and the stories,” he said.

The roundtable discussions revealed that the customer experience differentiates an organisation from its competitors.

An agile approach to disruption with a particular focus on online interactions will enable organisations to appeal to customers and progress in 2017.