Millennials (those born between 1975 and 1995) are the next powerful spending demographic. The problem is that the 20- to 30-year-olds buy differently than the boomers who are dominating current spending.
According to a study by Bazaarvoice.com, more than half of Millennials felt that user-generated content (reviews and comments) on a website has more impact on purchase decision-making than reviews from friends and family. Family and friends are still important, but Millennials are not likely to buy at all without input from user-generated content. No content, no purchase. Millennials are three times more likely to seek feedback on products and services on social media than boomers.
The recommendations from Bazaarvoice.com are to make “customer opinion the hero,” get user-generated content up front on websites and let Millennials have the opportunity to respond and communicate. Millennials want a conversation. Are you ready to start and continue the conversation?