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Understanding Global Millennials: Summary of Findings from Expanded Global Study

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Learn more about how this impacts marketing at www.sdl.com/five-truths …

Learn more about how this impacts marketing at www.sdl.com/five-truths

Millennials are an interesting generation, and with a buying power in the trillions, it is time to pay attention to them. This study (an expansion of an earlier US study) surveyed Millennials globally to understand how they operate as consumers in order to understand the Millennial mindset and to inform better marketing and business practices.

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    • 1. Understanding Global Millennials An SDL Customer Experience Research Report 2014 Insights Into the Global Millennial Mindset – and what to do about it © 2014, SDL plc 1
    • 2. 2 This is a summary of the findings from a global study of Millennials, conducted in January thru April, 2014. It includes responses from the US, UK, Australia, Germany, Norway and The Netherlands, and is an update to the US based study released in March 2014. The purpose of this study is to understand how Millennials operate as consumers in order to understand the Millennial mindset and to inform better marketing and business practices.
    • 3. 3 The Millennial Mindset Global Millennials… • Question whether you know how to market them • Touch multiple devices daily • Accept that some types of personal information will be collected • Connect with companies in social media to get discounts and freebies • Are more likely to engage with trusted brands • Discover content through social networks • Want to engage in their preferred language • Expect a fast response & instant gratification
    • 4. 4 Understanding Global Millennials, © 2014, SDL plc What to do about it Make sure content is consistent across all channels. Plan for the entire customer journey, not just individual interactions. ! Millennials touch their smartphones 43 times per day 44% Expect the experience to be the same regardless of channel
    • 5. 5 Understanding Global Millennials, © 2014, SDL plc Smartphones dominate and Millennials check them 43 times per day* 43 45 34 36 34 39 38Avg. # touches In the average day, how often do you check a social media site, browse the web or use an app, make a call, or text on your smartphone? On average, 19 out of 20 Global Millennials own a smart phone. 25% 26% 28% 11% 4% 5% < 20 20 - 40 >40 - 60 >60 - 80 >80 - 100 > 100 Total* 32% 27% 21% 10% 4% 6% NO 43% 25% 15% 8% 3% 6% AU 30% 32% 21% 10% 3% 5% UK 38% 29% 18% 8% 5% 3% NE 33% 30% 22% 8% 4% 3% DE 20% 24% 33% 13% 5% 6% US *Weighted by GDP of responding countries If you’ve communicated through a digital channel – they saw it the day it was delivered
    • 6. 6 Understanding Global Millennials, © 2014, SDL plc 29% 71% 11% 89% 11% 89% 32% 68% 38% 62% 18% 82% 30% 70% 45% 55% 70% 30% 67% 33% In a typical day, 2 of 3 Millennials touch 2 different devices 67% 33% Use 2 devices daily 37 % 63 % Use 3 devices daily Use 4 devices daily US AU DE NE 65 % 35 % 41 %59 % 57% 43% 21% 79% 67% 33% 21% 79% 71% 29% 34% 66% 24% 76% NO UKTOTAL* *Weighted by GDP of responding countries Two out of three Millennials use two different devices daily. (Except the Netherlands, where it is just over half.) • Top 2: Smartphone & Laptop • Top 3: + PC/Desktop • Top 4: + Tablet
    • 7. 7 Understanding Global Millennials, © 2014, SDL plc What to do about it Focus on building trust with targeted offers Be clear about the “give-get” equation ! 7x Millennials are 7 times more likely to give personal information to a trusted brand 46% share their data if it means more relevant offers
    • 8. 8 Understanding Global Millennials, © 2014, SDL plc 40% of Millennials can identify digital information tracked by companies The word cloud highlights the types of information respondents are aware is being collected. Size of the word indicates the frequency of occurrence in relation to other responses.
    • 9. 9 Understanding Global Millennials, © 2014, SDL plc It is accepted that some types of information will be collected…but not highly accepted More Acceptable data for companies to track On the whole, most big data collected is not acceptable by consumers. Using this data to gain advantage will not endear companies with their target customers. 62 74 77 78 80 80 82 85 86 88 92 95 102 0 20 40 60 80 100 120 NETSCORE
    • 10. 10 Understanding Global Millennials, © 2014, SDL plc The more awareness there is around data that is being tracked… the more acceptable it becomes. Relationship is significant @ 99% confidence Surprisingly, phone number is not acceptable to track. (it likely would have been prior to mobile-phone only) More Acceptable data for companies to track Greater transparency with customers on the types of data that companies can track makes it more acceptable in the eyes of the consumer. 62 74 77 78 80 80 82 85 86 88 92 95 102 0% 10% 20% 30% 40% 50% 60% 0 20 40 60 80 100 120 NETSCORE Awareness Linear Awareness
    • 11. 11 Understanding Global Millennials, © 2014, SDL plc Total US AU DE NE NO UK It should feel the same when dealing with a company w hether you're online, in a store, or on the phone 60% 64% 54% 50% 44% 28% 54% I expect to be able to engage with a company whenever I choose and through w hichever channel I choose 58% 63% 50% 50% 30% 50% 40% I like it w hen a company reaches out to me and it's NOT just about selling a product (i.e. w ith a holiday or birthday card) 51% 60% 39% 38% 18% 22% 40% I w ould be more likely to provide personal information to a trusted brand - a company I have purchased from before 53% 60% 37% 41% 26% 37% 44% The kind of companies I w ant to do business w ith are the ones that can make good offers in real-time 53% 57% 46% 48% 31% 39% 50% I like when a company makes recommendations to me that make shopping easier for me 49% 55% 35% 40% 20% 72% 45% It creeps me out when a company knows w hat I w ant before I've even told them 47% 54% 36% 37% 28% 39% 36% I would be prepared to give more data to businesses if it meant they didn't w aste my time w ith offers that are not relevant 46% 54% 31% 30% 16% 37% 35% I have absolutely no issue with companies using the data I provide them to give me a better experience 44% 52% 29% 28% 13% 23% 37% I don't like when companies use personal data to target offers at me (i.e. w eb brow sing, search habits, etc.) 48% 51% 43% 45% 44% 37% 44% It creeps me out when I receive offers in social media for things I have searched for recently 46% 49% 39% 38% 29% 38% 43% If I've decided not to buy something, I don't trust companies that continue to provide offers to me 43% 46% 36% 39% 27% 39% 36% The majority of companies don't know how to market to my generation 31% 35% 24% 21% 17% 17% 28% Percent Stated 'Agree' 7 - 9 Past experience and brand trust makes customers willing to share more personal data The Netherlands , by exception, is not as willing to make a trade- off to provide more personal data for the sake of a better experience. * *Weighted by GDP of responding countries
    • 12. 12 Understanding Global Millennials, © 2014, SDL plc What to do about it Place efforts on content sharing to first drive awareness, engagement and trust ! Emails from unknown brands are likely to be ignored 47% are “most likely” to engage if they have previously done business with you
    • 13. 13 Understanding Global Millennials, © 2014, SDL plc 5 of 6 Millennials choose to connect with companies in social media, but they want something in return Total 16% 26% 46% 56% 62% 18% 28% 45% 51% 58% I don't connect w/ compan… To complain - and be heard To get better customer service To get free perks To get discounts AU 29% 28% 41% 42% 50% 18% 32% 51% 47% 59% 10% 25% 44% 46% 51% 16% 34% 41% 39% 51% US 44% 28% 38% 31% 42% UK NE NO DE *Weighted by GDP of responding countries Though less pronounced than in the US, customers internationally predominately connect for discounts and freebies. *
    • 14. 14 Understanding Global Millennials, © 2014, SDL plc 48% 76% 69% 81% 39% 57% 69% 71% 27% 59% 68% 78% 34% 60% 63% 71% 49% 71% 73% 75% 66% 83% 84% 89% 56% 77% 78% 84% 0% 20% 40% 60% 80% 100% A company you have not heard of before A company you have heard of, but have not done business with in the past If you were referred to a previously unknown company by a friend, how likely would you be to do business with them? A company you have done business with in the past Total US AU DE NE NO UK Purchased lists are dead… If they don’t already know you, your email is irrelevant to them *Weighted by GDP of responding countries Customers are the most- likely to consider your offer if you’ve done business with them in the past. …Email campaigns from purchased lists are likely to be ignored. *
    • 15. 15 Understanding Global Millennials, © 2014, SDL plc Total US AU DE NE NO UK It should feel the same when dealing with a company w hether you're online, in a store, or on the phone 60% 64% 54% 50% 44% 28% 54% I expect to be able to engage with a company whenever I choose and through w hichever channel I choose 58% 63% 50% 50% 30% 50% 40% I like it w hen a company reaches out to me and it's NOT just about selling a product (i.e. w ith a holiday or birthday card) 51% 60% 39% 38% 18% 22% 40% I w ould be more likely to provide personal information to a trusted brand - a company I have purchased from before 53% 60% 37% 41% 26% 37% 44% The kind of companies I w ant to do business w ith are the ones that can make good offers in real-time 53% 57% 46% 48% 31% 39% 50% I like when a company makes recommendations to me that make shopping easier for me 49% 55% 35% 40% 20% 72% 45% It creeps me out when a company knows w hat I w ant before I've even told them 47% 54% 36% 37% 28% 39% 36% I would be prepared to give more data to businesses if it meant they didn't w aste my time w ith offers that are not relevant 46% 54% 31% 30% 16% 37% 35% I have absolutely no issue with companies using the data I provide them to give me a better experience 44% 52% 29% 28% 13% 23% 37% I don't like when companies use personal data to target offers at me (i.e. w eb brow sing, search habits, etc.) 48% 51% 43% 45% 44% 37% 44% It creeps me out when I receive offers in social media for things I have searched for recently 46% 49% 39% 38% 29% 38% 43% If I've decided not to buy something, I don't trust companies that continue to provide offers to me 43% 46% 36% 39% 27% 39% 36% The majority of companies don't know how to market to my generation 31% 35% 24% 21% 17% 17% 28% Percent Stated 'Agree' 7 - 9 Millennials want to do business with companies on their own terms – whenever and however they want The Netherlands has somewhat tempered anticipations about what to expect from businesses – they are more accustomed to dealing with businesses on their time. *Weighted by GDP of responding countries The majority of Millennials want to engage whenever they choose and expect the same experience across channels. *
    • 16. 16 Understanding Global Millennials, © 2014, SDL plc Total US AU DE NE NO UK It should feel the same when dealing with a company w hether you're online, in a store, or on the phone 60% 64% 54% 50% 44% 28% 54% I expect to be able to engage with a company whenever I choose and through w hichever channel I choose 58% 63% 50% 50% 30% 50% 40% I like it w hen a company reaches out to me and it's NOT just about selling a product (i.e. w ith a holiday or birthday card) 51% 60% 39% 38% 18% 22% 40% I w ould be more likely to provide personal information to a trusted brand - a company I have purchased from before 53% 60% 37% 41% 26% 37% 44% The kind of companies I w ant to do business w ith are the ones that can make good offers in real-time 53% 57% 46% 48% 31% 39% 50% I like when a company makes recommendations to me that make shopping easier for me 49% 55% 35% 40% 20% 72% 45% It creeps me out when a company knows w hat I w ant before I've even told them 47% 54% 36% 37% 28% 39% 36% I would be prepared to give more data to businesses if it meant they didn't w aste my time w ith offers that are not relevant 46% 54% 31% 30% 16% 37% 35% I have absolutely no issue with companies using the data I provide them to give me a better experience 44% 52% 29% 28% 13% 23% 37% I don't like when companies use personal data to target offers at me (i.e. w eb brow sing, search habits, etc.) 48% 51% 43% 45% 44% 37% 44% It creeps me out when I receive offers in social media for things I have searched for recently 46% 49% 39% 38% 29% 38% 43% If I've decided not to buy something, I don't trust companies that continue to provide offers to me 43% 46% 36% 39% 27% 39% 36% The majority of companies don't know how to market to my generation 31% 35% 24% 21% 17% 17% 28% Percent Stated 'Agree' 7 - 9 Millennials are undecided about whether or not companies know how to market to them *Weighted by GDP of responding countries *
    • 17. 17 What to do about it Use social media first to build relationships and engage !
    • 18. 18 Understanding Global Millennials, © 2014, SDL plc Millennials prefer hyper-targeted content Which streaming music source would you be most likely to listen to? 9% 12% 14% 21% 29% iHeartRadio iTunes radio Local Radio Stream Spotify Pandora Total* 2% 21% 22% 11% 10% AU 24% 12% 15% 28% 5% DE 25% 7% 12% 28% 2% NE 19% 5% 9% 54% 3% NO 5% 19% 24% 24% 4% UK hyper- targeted streaming non- targeted streaming 6% 10% 11% 18% 42% US *Weighted by GDP of responding countries The majority would choose hyper-targeted music content over traditional radio streams
    • 19. 19 Understanding Global Millennials, © 2014, SDL plc 2% 3% 5% 6% 7% 10% 13% 13% 17% 17% 24% 26% 35% 31% 27% 29% 49% Summly Cir.ca StumbleU… Flipboard Instapaper Tumblr LinkedIn Reddit Buzzfeed Pinterest Google+ News sites YouTube Email… A search… Twitter Facebook… Total* 2% 3% 4% 7% 8% 9% 12% 16% 17% 23% 23% 24% 27% 32% 33% 33% 33% 49% % % 3% 4% 1% 9% 6% 10% 4% 5% 22% 32% 43% 26% 11% 20% 50% 1% % 3% 2% 2% 10% 10% 9% 11% 6% 23% 30% 42% 22% 19% 38% 52% % % 2% 2% 1% 3% 7% 3% 3% 4% 21% 22% 20% 29% 17% 13% 38% All international markets use fewer channels to discover content that the US Social networks dominate content discovery How do you typically discover new and interesting things online? UKNE NODEAUUS % % 3% 3% 1% 6% 11% 5% 5% 12% 25% 26% 43% 23% 23% 21% 61% 1% 1% 2% 3% 2% 3% 3% 4% 2% 3% 22% 17% 42% 37% 11% 15% 44% *Weighted by GDP of responding countries Social networks comprise the bulk of content discovery Followed by other, emergent online and customizable news feed sites And, lastly, by more traditional means. (email, search engine, other online news sites
    • 20. 20 Understanding Global Millennials, © 2014, SDL plc What to do about it Engage with customers in their language of preference to connect with them on a deeper level ! 46% are more likely to buy in their own language 32% speak a non-English language at home in English-speaking countries
    • 21. 21 Understanding Global Millennials, © 2014, SDL plc A great opportunity exists to connect with customers in their language of preference to engage with them on a deeper level What is the preferred language of your household? 63% 59% 49% 36% 35% 24% 33% 37% 41% 51% 64% 65% 76% 67% NO DE NE AU UK US Total Yes No In addition to English, is there another language that is spoken in your household? 1 in 4 US Millennials have another language spoken in their household… 1 in 3 in the UK and Australia have another language spoken in their household… 1 in 2 in Germany, the Netherlands, and Norway have another language spoken in their household… Language is not tied to geography or a specific country. We are a multilingual world.
    • 22. 22 o Offer those that connect socially benefits not available elsewhere that are of value o Focus on brand-building efforts The Future of Customer Experience: 5 Truths for Tomorrow’s Marketer Understanding the Millennials, SDL plc Campaigns are Extinct1 o Create consistent, cross-channel experiences to cater to any multiple device & optimize offers by channel o Realize that consumers see content the day it is sent o Know your customer and deliver the hyper-targeted experience they expect if you want their attention o Target social efforts where content is discovered most o Connect with customers in their language of preference to engage with them on a deeper level o Be more transparent on the types of data you track to make it more acceptable in the eyes of the consumerYour Data Trumps Big Data5 There is Only One Language4 Content Finds the Customer3 Channels are Irrelevant2
    • 23. Learn how SDL solutions can help you target Millennials: www.sdl.com/cxc For more information on the Five Truths for Tomorrow’s Marketer, visit: www.sdl.com/five-truths © 2014, SDL plc 23
    • 24. 24 Understanding Global Millennials, © 2014, SDL plc Study sample frame | demographics Ethnicity Household Income Employment status Total US AU DE NE NO UK Full-time (30+ hours) 68% 71% 47% 61% 58% 40% 60% Part-Time (20-29 hours) 8% 7% 19% 10% 5% 18% 14% Self-Employed 5% 4% 3% 5% 15% 5% 3% Not Employed 14% 12% 17% 11% 16% 14% 12% Student 5% 4% 12% 12% 0% 21% 10% Retired 0% 0% 1% 1% 5% 2% 0% Total US AU DE NE NO UK < $24,999 16% 9% 13% 30% 27% 21% 28% $25,000 - $49,999 25% 20% 22% 37% 40% 30% 41% $50,000 - $99,999 37% 42% 37% 26% 27% 29% 25% $100,000 - $149,999 14% 16% 18% 4% 4% 14% 5% $150,000 + 8% 12% 9% 2% 2% 5% 2% Total US AU DE NE NO UK Caucasian 79% 82% 61% 86% 84% 40% 68% African American 7% 9% 2% 1% 3% 3% 4% Asian / Pacific Islander 9% 7% 29% 5% 6% 9% 13% Hispanic 4% 5% 1% 2% 5% 5% 2% Native American 1% 1% 1% 2% 2% 4% 2% Other 4% 1% 9% 7% 9% 42% 14% Surveyed January – April 2014 Total N = 1860 Education - level Age Total US AU DE NE NO UK 18 - 24 21% 13% 35% 35% 35% 52% 34% 25 - 36 80% 88% 65% 65% 65% 48% 66% Total US AU DE NE NO UK < High school 10% 1% 24% 38% 10% 10% 18% High school degree 18% 12% 19% 33% 39% 45% 23% College degree 59% 74% 36% 22% 41% 35% 41% Graduate degree 14% 15% 21% 7% 3% 10% 18% US = 304 64% AU = 309 6% DE = 309 14% NE = 310 3% NO = 307 2% UK = 321 11% Facebook Foursquare Tumblr Twitter Ning Flickr Pinterest Meetup StumbleUpon Instagram Hi5 WordPress LinkedIn Orkut Wer-kennt-wen [DE] Myspace Badoo MeinVZ/StudyVZ [DE] Google+ MySpace Lokalisten [DE] *Global weights applied to total rollup All respondents active on one or more social networks in the past 30 days: *Market data weighted by 2012 World Bank GDP data. **Other for Norway is high, since they don’t associate with being Caucasian. **