The Millennial Tax: How Generational Buying Patterns Impact The Way Brands Engage With Customers | Seattle Interactive 2017

•Download as PPTX, PDF•

1 like•442 views

Presenter: Michel Feaster, Usermind, Co-Founder & CEO Customer expectations are changing and we have millennials to thank for the new dynamic between customer and brand. For them, everything must be delivered on-demand, real-time, and seamlessly, no matter the channel. This is a tall order for many companies, who typically interact with customers in a traditional, transactional way due to siloes throughout their technology stack. Millennials don’t care if your online retail data is separate from your in-store database; they expect consistent experiences and companies that are unable to deliver this caliber of digital engagement today will lose an entire generation of customers. Usermind Co-founder and CEO Michel Feaster will share how marketers can translate disconnected signals from customers into a single 360º customer view that sets brands up for successful, continued relationships.

Marketing

@michelfeaster |usermind.com
Michel
Feaster
@michelfeaster
@usermindi
nc
CEO & Founder of Usermind
How Generational Buying Patterns
Impact Customer Engagement
The Millennial Tax

@michelfeaster |usermind.com
About Me
Apptio 2009-2012
VP of Products
From employee 17 to $80MM ARR
HPSW 2007-2009
Led the $1.6B acquisition and
integration of Opsware
Mercury 1998-2007
Product management and presales
Michel Feaster
CEO & Co-Founder

@michelfeaster |usermind.com
The successful companies of
previous decades are dying.
52%
of the Fortune 500
have disappeared
in the last 15 years
75
was the average
life expectancy
of F500 in 1955
15
is the average
life expectancy
of F500 in 2015
@michelfeaster |usermind.com

@michelfeaster |usermind.com
Why is this
happening?
Spend $600 billion per year1
Cite price as more important than brand2
Prioritize experience over products3
Expect seamless, personalized customer interactions4
We’re in the largest
generational buyer shift in
decades. Millennials are
radically different buyers.
1 Accenture 2 Goldman Sachs 3 Mary Meeker
4 RIS, "Customer Engagement Tech Trends Study: The Personalization Imperative," Retail Info Systems News. [Online]

@michelfeaster |usermind.com
Businesses who can’t understand this
market segment and rapidly change to
deliver customer engagement … will
fail.
Millennials are the
largest living population
segment (79.8 million)
— and will continue to
be for 20+ years.
75
81
6566
28
Millennial
Gen X
Boomer
Silent
Projected population by generation
In millions
Note: Millennials refers to the population ages 18 to 34 as of 2015. Source: Pew Research Center tabulations of U.S. Census
Bureau population projections released December 2014 and 2015 population estimates. Pew Reseach Center

@michelfeaster |usermind.com
This is either a massive risk for
your company — or a massive
opportunity.
Millennials currently control $1.3T in consumer spending.
And will be the recipients of a $30T wealth transfer from
baby boomers over the coming decades.5
5 Wealth-X Family Wealth Transfers Report @michelfeaster |usermind.com

@michelfeaster |usermind.com
How can
companies
embrace this new
reality?
Go direct to your customer
— and own their data
Create a subscription business
Provide personalized service
or experiences
1
2
3

@michelfeaster |usermind.com
Go direct to your customer — and own their data1

@michelfeaster |usermind.com
Get rid of the middle man

@michelfeaster |usermind.com
Leverage new channels to connect with
customers
@michelfeaster
usermind.com

@michelfeaster |usermind.com
Differentiate on price
@michelfeaster
usermind.com

@michelfeaster |usermind.com
Create a subscription business2

@michelfeaster |usermind.com
Historical customer data can be used to
personalize new experiences

@michelfeaster |usermind.com
Provide personalized services and
experiences
57%
60%
of millennials compare prices in-store6
think they usually know more about
products than store associates do7
3
6 AIMIA Inc. “Born this Way: US Millennial Loyalty Survey” ©2012
7 Forbes, “Retail Tips From Salesforce On Winning With Millennials And Gen Z” ©2017

@michelfeaster |usermind.comb
Customer data = context in every interaction
@michelfeaster
usermind.com

@michelfeaster |usermind.com
Unified online and offline
experiences
@michelfeaster |usermind.com

@michelfeaster |usermind.com
Unbeatable Price + Convenience
= The New Normal

@michelfeaster |usermind.com
Companies that pay the
Millennial tax will survive and
thrive in today’s competitive
landscape.
@michelfeaster |usermind.com

@michelfeaster |usermind.com
How to do
it:
Go direct to your customer
— and own their data
Create a subscription business
Provide personalized service
or experiences
1
2
3

@michelfeaster |usermind.com
Thank you. Questions?
@michelfeaster |usermind.com

Presenter: Richard Irving, Hulu, Vice President, Product Management TV used to be a medium of one-to-the-masses as defined by the limitations of technology. Today, technology has afforded us the ability to watch the content we want, when we want on the device of our choice. Despite the changes in viewer consumer behavior thanks to the proliferation of over-the-top devices, the TV viewing experience has remained largely unchanged for years. In a hyper-personal, one-to-one world the TV for the masses no longer applies. Join Richard Irving, Hulu’s VP of Product, as he takes you on the journey of the evolution of the television experience. In this session Richard will provide a glimpse into what it took to develop an entirely new viewing experience from ideation to design to product execution.

Social-Emotional Learning, Self-Empowerment + Flibbertigibbet: How Digital Ca...

Seattle Interactive Conference

Presenters: Jessica Barnes, Smashing Ideas, Creative Director Anna Ho, Smashing Ideas, Senior Strategiest Teaching complex behavioral techniques through mobile applications has been around for years, yet few make a positive and lasting impact on the lives of the end-users. The creative and strategic minds behind Mindful PowersTM - a kid-first, holistic approach to building social-emotional learning through the power of play - will walk you through the intricate details of taking skills-based methodologies, such as Mindfulness and Acceptance Commitment Therapy, and the practical application of them in an inclusive and accessible digital experience that helps children build healthier relationships with life, stress, and anxiety.

Kernels of Truth: Voice and Tone for AI Conversation | Seattle Interactive 2017

Seattle Interactive Conference

Presenter: Milena Pribic, IBM, UX Designer How do you craft a conversation between a machine and a human— not only to give your users the right answers, but to get them to ask the right questions? In this (user-centric) session, we’ll explore the importance of voice and tone in conversational AI and discuss how we can encourage epiphanies through good design. We’ll chat about branding for cognitive solutions and the true intents behind crafting a personality for a product or experience. Hear about lessons learned from work using IBM Watson to help students and also touch on inspiration from less conventional sources.

The Magic Pitch: What You Can Learn From Crowdfunding to Tell Your Story | S...

Seattle Interactive Conference

Presenter: Kaitlyn Witman, Rainfactory, Cofounder & Director of Product Marketing Crowdfunding has exploded in the past few years as a way to quickly rally a community around a product. It's created a unique opportunity to pitch your story to millions of early adopters. Now, marketers at all levels are adapting this formula to launch all types of products large and small. The best campaigns come from a proven method, and all follow this unspoken format of storytelling. Dive in & dissect what makes each pitch successful. Crowdsource ideas and build a community. In this session, learn the art of crafting the perfect product pitch from a seasoned veteran of nearly 40 crowdfunding campaigns, 14 of which have raised over $1 million.

Inclusion in Emerging Technology | Seattle Interactive 2017

Seattle Interactive Conference

Presenters: Di Dang, POP, Emerging Tech Lead Julia Copley, POP Connections Strategist To design, develop, and market inclusively is not just the right thing to do, it's the smartest business decision you can make. We'll discuss case studies and actionable takeaways for how you can be inclusive in your emerging tech focus. See how first movers are already owning market share, and learn how you can build your brand to thrive in this brave new world.

I Am Not A Robot, Yet: How Data Is Killing Design | Seattle Interactive 2017

Seattle Interactive Conference

This document discusses how an over-reliance on data is negatively impacting design. It notes that businesses have become too focused on tactical optimizations and metrics, prioritizing efficiency over cultural and human factors. This has led to designs that lack innovation, vision, and empathy. The document argues that designers need to view data as a tool rather than truth, and should balance data with more subjective measures like user research and emotions. It suggests breaking out of "bubbles" to avoid being too conservative or complacent. The conclusion reiterates that design and data should be integrated, not that data should dictate design.

SEO in 2018 and Beyond | Seattle Interactive 2017

Seattle Interactive Conference

Owning Your Design Process and Designing for Equity | Seattle Interactive 2017

Seattle Interactive Conference

Natalie Lew is working to consider how to design an ethical, human-centric future. She is looking at five areas: connection, donation, information, climate, and education. Her process involves secondary research, primary research, generating insights, brainstorming ideas, prototyping, testing, and establishing a visual identity. She provides tips for each stage of the process and emphasizes the importance of testing throughout. Her overall goal is to use an intentional design process to create positive impact.

Presenters: Chris Witherspoon, DNA Principal and Managing Director Alan Brown, DNA CEO The State of Love and Trust is not just a brilliant song by Pearl Jam and part of the soundtrack to Cameron Crowe’s hit movie Singles, but as DNA’s Alan Brown and Chris Witherspoon explain, Love and Trust are the two most essential ingredients to successful marketing today. And unfortunately for brands, marketers – and politicians – Love and Trust are in short supply. Consumer trust is at an all time low. And without trust, there can be no love. Which means consumers will continue to flirt and cheat on the brands they once could not live without. Alan and Chris bring insight into how successful brands are able to keep the flame burning with advertising that delivers passion, love and profit. They discuss how to uncover shared values that build stronger and more lasting bonds, and the principals brands can leverage to build trust and love with today’s consumer.

Christmas Shopping With Your Voice | Seattle Interactive 2017

Seattle Interactive Conference

Presenters: Jasdeep Singh, Best Buy Director of Engineering Jay Myers, Best Buy Technical Product Manager, Digital Innovation Labs Google, Alexa, and Siri are part of the modern home. Retail stores need to use these voice assistants to delight their customers. How do we best enable customers to use voice to browse, shop, and buy in their own voice? We will explore how to best to convince a customer that voice control for shopping is easier and more efficient then web and mobile. How we can stay connected with the customer after the purchase. And even how we can turn a casual purchaser into a brand loyalist.

Facebook Advertising Unveiled: Insights Into How Facebook Has Become The Go ...

Seattle Interactive Conference

Facebook has become a go-to platform for digital advertising due to its strong targeting capabilities, performance metrics like cost per action, and massive scale. It offers various ad formats like images, video, carousels and stories. While it can deliver awareness, traffic, engagement and conversions, advertisers must have a strategy for targeting, budgeting across platforms, and creative testing to improve results. Attribution and retargeting tools also allow measuring offline sales driven by online ads.

Michael Huang - Brand New Old Skool - Seattle Interactive 2016

Seattle Interactive Conference

The document discusses the relationship between culture and technology. It notes that there is no blueprint for how technology will impact culture. It emphasizes that culture is made up of knowledge, norms, beliefs and arts. Counter-culture and problems in society help drive new solutions. The rise of social tools on the internet challenges existing social structures. It suggests investing in culture through supporting arts, diversity and experiences rather than trying to measure everything. The future will involve redefining brands and business to work more closely with cultural influencers and communities. Attempting to solve problems can lead to new ideas and progress.

Back to Nature: Curing Open Office Noise | Seattle Interactive 2017

Seattle Interactive Conference

Presenter: Beau Wilder, Plantronics, Vice President, Innovation Waves & New Products Nobody sets out to create an office environment that employees loathe. Yet according to studies, noise and distraction is the number one complaint of office workers; a costly situation that triggers drops in productivity and employee well-being. In this session, Beau Wilder, VP of Innovation Waves and New Products at Plantronics, covers the basic principles of sound, the sight and sound link, the role of nature and natural elements, plus insights, tips, and lessons learned that can help companies understand and resolve this pervasive and costly problem.

Slowing Down to Level Up : ROI of mindfulness and body language | Seattle Int...

Seattle Interactive Conference

Presenter: Renee Metty, With Pause, Founder & Chief Engagement Officer How do you level up when often you feel like you are just trying to catch up? The world is moving faster and faster and we are being inundated with more and more information and higher expectations. Slowing down and leveraging your non verbals increases your self-awareness and capacity to move with ease through a sometimes chaotic world. Leave with actionable tips and strategies that help you get a handle on your autopilot and create new habits so you can increase your charisma, influence and ROI.

Writing for Doing, Not Reading: The UX Writer’s Role | Seattle Interactive 2017

Seattle Interactive Conference

Presenters: Elly Searle, CrowdStrike Head of Content Strategy Torrey Podmajersky, OfferUp Senior Content Strategist When UX designs are handed off to developers, they always contain words: headings, instructions, CTAs (calls to action), and error messages. These words play a critical role in delivering a usable, useful, and desirable experience. Clear, thoughtful buttons, labels, and instructional wording has a lot to do with a site’s success and its customers’ satisfaction. In this session, Elly Searle, head of content strategy for CrowdStrike, and Torrey Podmajersky, senior content strategist at OfferUp (and SVC instructors), will take you through the fundamentals of user experience writing. You’ll walk away with an improved sense of how to talk to your user so you can better meet their needs.

The Well-Behaved Object: Design Principles for the Next Generation | Seattle ...

Seattle Interactive Conference

Presenters: Jeremy Bowen, Microsoft, Creative Design Director There's no question that the products we make in the near future will grow cheaper and smarter - which means more intelligence in more places. How much will our existing attitudes about interaction design apply in this new era of diverse, connected, intelligent devices? Are there new boundaries we need to set to maintain our privacy and our peace of mind? "The Well-Behaved Object" is a way of thinking about the relationship between us and the objects around us that augment our experience – and what it takes for the objects we use to be not just “intelligent”, but valuable, empowering, and meaningful.

The Capitalist's Advantage - Proving the Business Value of Inclusion with Imp...

Seattle Interactive Conference

Presenter: Gabe Goldberg, Hone Marketing CEO You already have all the marketing data you need -- it's time to make sure the right people are interpreting it. New data points to the business value of including diversity of team-member background and experience to your bottom line, but this year's product & communication fails reveal many businesses are behind. How can you make short and long-term impact? I'll share practical, real world examples and show how you can use the tools you already have to improve team, business, and marketing performance.

1/2 Billion Reasons you need an Augmented Reality Digital Strategy | Seattle...

Seattle Interactive Conference

Presenter: Adam Sheppard, 8ninths, CEO & Co-Founder AR is poised to become the hottest new engagement method since the rise of social media. 8ninths is launching their first consumer engagement AR Marketing Platform for Apple's ARKit in mid-September when iOS 11 is revealed. Hear what we've discovered about AR Marketing for consumers in the first few weeks after launch as well as our learnings from multiple AR Client Projects.

5 Star State of Mind | Seattle Interactive 2017

Seattle Interactive Conference

Presenter: Christina Augsburger, Yelp, Local Business Partner A Bright Local study found that 91% of consumers read online reviews for local businesses, with average star rating the most important factor that consumers look at when judging a local business on review sites. Businesses don't have to have a perfect five-star rating to have a five-star state of mind. In fact, it's a mentality that any business can adopt regardless of your current rating today. It's all about setting goals for customer service excellence, developing a strategy for dealing with customer feedback, and getting reviews organically. Gain insights from Yelp's Local Business Partner on how to raise the bar for your online reputation.

How Chatbots Can Help Your Marketing | Seattle Interactive 2017

Seattle Interactive Conference

Presenter: Murray Newlands, ChattyPeople, CEO Every business is going to have a bot. They are cheaper, faster, respond instantly and they can interact with any number of clients simultaneously. If messaging apps become the primary way people communicate, and every business needs a strategy to engage with people on messaging apps, and bots are the only scalable way to do this, then every business will eventually have a bot. That is simple math.

The Future of Urban Mobility: As Seattle’s Mobility Ecosystem Grows, What’s a...

Seattle Interactive Conference

Presenters: Mike Lindblom, Seattle Times Reporter Steve Banfield, ReachNow CEO Peter Kim, Scoop Head of Sales and Partner Success Gabriel Scheer, LimeBike Director of Strategic Development The last year brought tremendous innovation to urban mobility in Seattle. The launch of key players, like ReachNow, Scoop and Chariot among others, are making the idea of connected, electric, automated and shared urban transportation in Seattle a reality. With the influx of options combined with the expectation that autonomous cars will soon hit the streets of the Emerald City, hear from leaders in urban mobility about where this is all headed. With all these options, how should Seattleite’s think about these new services? Will increase mobility options simply create more congestion? What considerations are being made on the way to autonomous cars?

They Say Our Love Won’t Pay The Rent | Seattle Interactive 2017

Seattle Interactive Conference

You thought you did everything right. You started with the fundamentals. You built your CRM channel into a proven profit center. Then you got fancy. You did some wild stuff that delighted your bosses and your base. It was a thrill and you got hooked. Then the analysis team called and rained all over your parade. Now what? Join Bob Zammit from Xbox Global CRM as he shares the lessons learned from a decade in the pursuit of love and/or money. - Hear how Xbox leverages its rabid fandom into a profitable CRM discipline that gives back to its subscribers - Explore the business tensions between short term profits and long term customer relationships - See how our successes and failures can inform the customer engagement approach in your business

Should I Stay or Should I Go? The Secret to Millennial Employee Retention | S...

Seattle Interactive Conference

The document discusses strategies for retaining millennial employees. Millennials change jobs frequently, with 71% seeking new jobs and 60% staying less than 3 years. This turnover costs US businesses $30.5 billion annually to replace lost millennial employees. The document recommends focusing on work-life integration through flexibility, recognition both financial and for performance, professional development, building trust with managers, emphasizing social impact, and ensuring diversity and inclusion. Measuring the success of retention strategies is also suggested.

Quit Doing Such Shitty PowerPoints | Seattle Interactive 2017

Seattle Interactive Conference

Presenter: Larry Asher, Worker Bees, SVC, Principal We live in an information economy, right? Then why do so many people churn out boring, dense, indecipherable, and worthless information via the endless stream of horrid PowerPoints we’re forced to sit through most days? There’s another way, and you can learn it in 40 minutes at this session. We’ll show you what good storytelling, cleanly designed slides, and compelling presentation support is supposed to look like. You’ll also learn about what The Wave — that thing people do at football and baseball stadiums — has to do with dreadful presentations. Now, of course, you aren’t an offender and your PowerPoint and Keynote decks are just fine. So bring some bullet-point addict you know who really needs this. You’ll be doing us all a favor.

How To Optimize Online Content To Grow Your Community and The Brands You Wor...

Seattle Interactive Conference

Presenter: James Lamprey, Fun Foods, Content Creator, Host Chef The market has been flooded with new content creators and brands over the last few years. It is getting harder to stand out with the increase in competition. Social media has made the barriers to entry in these fields almost nonexistent. If you want to stand out and reach more people you need an advantage that others don’t have. In this workshop we will dive deep into content optimization, reaching new audiences for growth, and working with brands to add value to your audience.

The Power of Voice | Seattle Interactive 2017

Seattle Interactive Conference

Presenter: Bryan Moffett, National Public Media, COO Voice is the original form of mass communication – an incredibly vital and powerful element of society, and the primary way stories, ideas and news were shared. Today, voice is regaining its influence. New technology across sectors is operated by voice, and the salience of audio-format content is coming into focus in this on–demand and voice–activated world. NPR has been a pioneer in audio news and storytelling for half a century. Built on the power of voice, NPR has expanded from its roots in terrestrial radio to digital, podcasting and now smart speakers to reach 99 million people a month across platforms. Hear how your brand can find its voice in this new world of audio, and learn how smart speakers are impacting the consumers through findings from The Smart Audio Report from NPR and Edison Research.

How to Present (and Sell) Creative Work | Seattle Interactive 2017

Seattle Interactive Conference

Presenter: Rahmin Eslami, Hornall Anderson Executive Creative Director We spend countless hours toiling over our work. But then we do something strange, even stupid. We take all that hard work, passion and our shiny creative alchemy, and march it into its debut with little-to-no preparation. We say, “The work should stand on its own…”, as though Darwin is suddenly in the conference room. Then it happens — you have a terrible presentation, the work dies, and you have to start over. This outcome is avoidable, and Rahmin Eslami, executive creative director at Hornall Anderson and SVC instructor, will advise you on how steer clear of creative presentation misfires with a bit of preparation and practice.

Everything Connect: Helping brands survive the web’s next big evolution by An...

Seattle Interactive Conference

Connect is both the lifeblood of capitalism, and its most volatile competitive field. In this Arena, the mightiest of brands compete – in a state of near permanent transformation – to be the primary point of connection between people, between things, and between people and things. Over the next 100 years, humans will experience the equivalent of 20,000 years of technological advancement. In the Decade of Possibility, changes that once took decades will happen in years – or even months, driving a revolution in the ways people and things Connect. What does this mean for brands? Everything…

Experiencing Extremes: A Design Team's Guide to Accessibility by Jess Vice, S...

Seattle Interactive Conference

Experience may be the best teacher, but how does a team experience accessibility? We generally learn best by doing or feeling for ourselves. An accessibility workshop has the power to bring that immediate sense of understanding to teams – and personal understanding results in better solutions. In this session, Jess Vice outlines why accessibility is a strategic investment. With her expertise in UX and design responsibility, she will walk the audience through a framework for a tactical accessibility workshop to make equitable design a priority for every team.

Creativity Meets Technology: Framing web3 for Brands by Luis Antezana, CROWN ...

Seattle Interactive Conference

The Metaverse and blockchain-based tokens sound like nerdy buzzwords but they represent the bleeding edge of new opportunities for brands to cultivate relationships with their audience, from creating new product experiences to building real communities. Luis will share his entirely subjective view on what's possible here based on nearly two years of immersion in the space (which feels like seven years in web3 world). You'll hear about: + Tapping into an emerging wellspring of creativity + Harnessing technology to empower the audience + Nurturing environments of authenticity and fascination + Leveraging new kinds of data for programmability and insights

Viewers also liked

The State of Love and Trust (with Apologies to Pearl Jam) | Seattle Interact...

Seattle Interactive Conference

Christmas Shopping With Your Voice | Seattle Interactive 2017

Seattle Interactive Conference

Facebook Advertising Unveiled: Insights Into How Facebook Has Become The Go ...

Seattle Interactive Conference

Michael Huang - Brand New Old Skool - Seattle Interactive 2016

Seattle Interactive Conference

Back to Nature: Curing Open Office Noise | Seattle Interactive 2017

Seattle Interactive Conference

Slowing Down to Level Up : ROI of mindfulness and body language | Seattle Int...

Seattle Interactive Conference

Writing for Doing, Not Reading: The UX Writer’s Role | Seattle Interactive 2017

Seattle Interactive Conference

The Well-Behaved Object: Design Principles for the Next Generation | Seattle ...

Seattle Interactive Conference

The Capitalist's Advantage - Proving the Business Value of Inclusion with Imp...

Seattle Interactive Conference

1/2 Billion Reasons you need an Augmented Reality Digital Strategy | Seattle...

Seattle Interactive Conference

5 Star State of Mind | Seattle Interactive 2017

Seattle Interactive Conference

How Chatbots Can Help Your Marketing | Seattle Interactive 2017

Seattle Interactive Conference

The Future of Urban Mobility: As Seattle’s Mobility Ecosystem Grows, What’s a...

Seattle Interactive Conference

They Say Our Love Won’t Pay The Rent | Seattle Interactive 2017

Seattle Interactive Conference

Should I Stay or Should I Go? The Secret to Millennial Employee Retention | S...

Seattle Interactive Conference

Quit Doing Such Shitty PowerPoints | Seattle Interactive 2017

Seattle Interactive Conference

How To Optimize Online Content To Grow Your Community and The Brands You Wor...

Seattle Interactive Conference

The Power of Voice | Seattle Interactive 2017

Seattle Interactive Conference

How to Present (and Sell) Creative Work | Seattle Interactive 2017

Seattle Interactive Conference

Viewers also liked (19)