WORD OF MOUTH
DIGITAL
31%
It’s time to stop avoiding millennials
and start learning how to deliver what they want.
WRITTEN
REVIEWS
33%
PRODUCT EXPERIENCES
THAT INFLUENCE
MILLENNIALS
VIDEO
REVIEWS
1,000 millennials
20%
were surveyed about
the product experiences
that most resonated
with them.
PERSONAL
EXPERIENCE
55%
Technology. Millennials are the first generation
to be born into the digital age, and technology is part of
their fabric. They are adept at accessing peer recom-
mendations, product information, reviews, and price
comparisons, and will interact with your brand long
before you consider them a customer. Millennials
will be the primary drivers of digital advancement
in business for decades to come.
Î Î
Expand your IT platform to support multi-
channel mobile experiences, including e-commerce.
Î Î
Use videos, blogs, and other digital content to
create a rich and personalized online experience.
Î Î
Offer ways to digitally compare and customize goods and
services to satisfy the unique needs of each customer.
WORD OF MOUTH
IN REAL LIFE
43%
Align Your Workforce
Millennials are the fastest growing workforce segment
in the United States. By 2025, they will represent 75% of
the global workforce, providing employers with built-in
digital literacy and unique skill sets required for leadership
in a millennial-centric economy. Companies that invest
resources to attract and empower millennials will gain a
significant competitive advantage.
Î Î
RECRUITMENT. Use an integrated social media approach to
attract millennial candidates and create an online presence that
communicates the attributes that are most attractive to them.
Consider adjusting work policies to allow more flexibility, the
ability to work from home, and use of freelancers. Ditch the old
interview process and opt for new ways to get to know candi-
dates. Take a candidate to volunteer with you one morning or
meet for coffee.
Î Î
TECHNOLOGY. On average, you can expect the millennial
employee to stick around for two or three years. Intuitive
systems and user interface designs can reduce the complexity
of onboarding and allow new employees to ramp up faster.
Streamline how you process new hires with embedded
training, dashboards, and mobile guidance.
Î Î
MOTIVATION. The most often cited reason for leaving a job
is no hope for career development. Set up clear paths for
advancement and revisit those plans often. Consider creating
junior positions for smaller hops up the ladder.
Î Î
ENVIRONMENT. More than any previous generation, millennials
tend to work better in teams. Evaluate your office environment
and consider investing in an open floor plan where employees
are encouraged to collaborate. If cubicles are necessary, make
sure you provide alternate areas that are more casual and fun.
Î Î
Let customers drive conversations about your brand by
investing in social media channels that make it easy for
them to interact and share experiences.
Value Proposition. Rejecting the status quo offered
by corporate America, millennials prefer meaning over
ownership. The millennial believes in making the world a
better place and has high expectations for corporate authen-
ticity and social responsibility. More so than previous
generations, their evaluation of your brand may hinge on its
environmental and social impact.
Î Î
Build meaningful experiences around existing products
and services by incorporating community into the story.
Î Î
Develop new goods and services that add value to the
customer experience and evaluate how they can work
together to further the story.
Î Î
Connect your brand to the direct support of a cause that
aligns with your company values.
Î Î
Give customers a window into corporate philanthropic
activities and engage them in these efforts.
Preparing your organization for the "millennial factor"
involves commitment and resources. Start the retooling
process today in these areas of high impact, and position
your company for future growth and long-term success.
Ready to retool for success? Call your relationship manager at
855.274.2800 to explore how Sterling National Bank can help
you fund this important investment.
20 | SNB.COM // CONNECT INNOVATION SUMMER 2017 // RANKED BY FORBES’ 2017 “AMERICA’S 100 BEST BANKS”