Partnering w/ Millennials in a Managed Travel Program
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Who are the millennials and how are they impacting corporate travel? This keynote includes a deep dive into the habits of this generation and the impact they are having on managed travel. From new trends to increasing demands, this group will soon overtake the corporate environment and dominate travel spending. Including interactive breakout sessions, this discussion with help prepare the managed travel industry to work with these young professionals.
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Partnering w/ Millennials in a Managed Travel Program
- 1. #MILLENNIALS
- 4. $1.3 trillion Diverse Gen-Y Gen Me Born 1980-2000 86 million Educated #MILLENNIALS
- 5. Nation in decline No authority to access information Work / Life #MILLENNIALS
- 6. #MILLENNIALS
- 7. #MILLENNIALS
- 8. #MILLENNIALS
- 9. #MILLENNIALS
- 10. #MILLENNIALS
- 11. #MILLENNIALS
- 12. #MILLENNIALS
- 13. #MILLENNIALS
- 14. #MILLENNIALS
- 15. LAZY ENTITLED CASUAL DIS-LOYAL ANTI-AUTHORITY NO MORAL COMPASS SELF-CENTERED EASILY DISTRACTED #MILLENNIALS
- 16. SOCIALLY CONSCIOUS ENTREPRENEURIAL EARLY ADOPTERS TECH-LOVERS THRIFTY CREATIVE OPEN-MINDED ADAPTIVE FAST LEARNERS #MILLENNIALS
- 17. DEMAND PERSONALIZATION KNOWLEDGE > MONEY VALUE vs. COST EMERGING ADULTHOOD ISOLATION IS DEAD EASE OF CONNECTING #MILLENNIALS
- 20. “I want a comfortable, connected and entertaining flight. I’d rather book online. And I’ll tell others about my bad flight.” 4.9 #MILLENNIALS
- 21. 58% India 26% U.K. 37% world 45% Brazil 23% U.S. #MILLENNIALS
- 25. 54% 46% 35% Boomer Gen X Gen Y Gen Z #MILLENNIALS
- 26. 50% #MILLENNIALS
- 27. - 35 35 to 54 55+ BOOKING AIR HOTEL CAR CREDIT EXPENSE #MILLENNIALS
- 29. Allow Customization Make Adjustments Explore New Communication Use Mobile Apps Leverage Social Tools Understand Gen Needs #MILLENNIALS
- 31. 40% #MILLENNIALS
- 32. 92% #MILLENNIALS
- 33. No-Collar Workers Address Generational Divide Don’t Call Mills. “Entitled” Integrate Consumer & Customer #MILLENNIALS
- 35. Social Media Booking Tools Alt. Communication Mobile Apps Customization #MILLENNIALS
- 36. Be Brief, Informative & Clear Know Your Limits Embrace Technology #MILLENNIALS
- 37. TIM HINES Business Traveler Social thines@btsocial.com @tnhines @btsocial #MILLENNIALS
Editor's Notes
- Born between 1980-2000Largest generation in Human History with 86mMost diverse generation40% are enrolled in college – Better educated
- Value life first over work and money and expect their companies to recognize this
- Demand personalizationMotivated by knowledge rather than money (in the workplace)Value vs. Cost (care more about if its worth the price)Emerging adulthood – between adolescence and adulthoodExtreme knowledge, isolation is dying (location sharing, etc.)Ease of connecting with people around them
- Expect customized services – Work and travel environment to be filled with choices. Not one size fits allTech Savvy – Quickly adopt technology, expect certain technology and use mobile for everythingSocial – Give and receive immediate feedback, use social media to stay connectedEmbrace Change – Chose novelty over comfort and are more prefer more adaptive travel policies More comfortable w/ travel – They find long-haul flights less stressful and lower hotel categories
- 4.9 trips per yearRanks 2 in international trips13% more spent per ticketBooks closer to trip date
- Millennials make up of business travelers37% world58% India45% Brazil26% UK23% US
- 4x more likely to pay for wi-fi2x more likely to watch downloads60% more likely to in-flight entertainment
- % Spending on Business Flights
- Program Compliance
- 2013 Travel Manager Priorities
- WHAT SHOULD TRAVEL MANAGERS DO?Allow customization where possible – introduce new tools and servicesUse mobile apps and services with guidelines – Boost compliance while enhancing travel experienceLeverage Social Tools – Create policy guidelines on social media and use to raise traveler awarenessExplore new communication channelsUnderstand needs of different traveler populations internally – Gen Y vs X vs BoomersHow you ask them to manage their travelHow they do it in the social lives
- Address generational divide head on – have older workforce work directly with millenials instead of segregationDon’t call Millenials “entitled” – They aspire for something more and are very entreprenurial. Empower millenials to come up with great ideasIntegrate consumer and customer – Millenials have a direct connection with their demographic and understand their needs
- For the WinBe brief, informative and clear – Mils rely heavily on info, take time to educate them with ‘why’ and develop communication processKnow your limits – Mils don’t like limits, empower them with the ability to shop anywhere, book anywhere, book with anybody, and book anythingEmbrace technology – “Out of office” no longer exists