Forget the Millennials, The Connected Consumer is Who You Should Be Chasing

Importance of Proptech

Forget the Millennials, The Connected Consumer is Who You Should Be Chasing

One of my top requested questions in the last couple of years has been on the topic of millennials. How to market to them, manage them, engage them, retain them, <insert favorite business verb here> them. And, while there are certainly valid generational preferences, and knowing them can indeed help boost revenue and retention, there is an even greater opportunity at play here. Millennials, Gen X-ers, Baby Boomers, Gen Z, all fall into a broader category, one which comes inherently by living in the digital age. We call them connected consumers.

While the term connected consumer may initially conjure images of the young, hip, digital native Snapchatting their favorite Spotify playlist, it is much greater than that. Imagine a baby boomer couple researching their next cruise, or a Gen X father searching for appropriate videos to teach his toddler. With more than half the world now using mobile devices to connect, communicate, research, and purchase, the connected consumer is diverse in identity, yet homogenous in many of their needs. How they connect with their building is no different.

These empowered consumers have knowledge, choice, and high expectations of companies they choose to do business with. They aren’t looking for just simple and fast. They are asking for personalized and proactive, and the companies which can deliver will have the numbers and market share to show for it.

Here’s what you need to know about the Connected Consumer –

Constant connectivity is the new state of being. 

This goes beyond just using the smartphone to check emails and make calls…ok, mostly to text. Connectivity no longer exists as an on and off switch. We don’t toggle between the physical and the digital. As you read this, is your smartphone within reaching distance? Or are you reading this on a smartphone while in transit? When you are at a bar and a friend poses a trivia question, how quickly does everyone turn to Google? When you are considering a new vendor, how long do you wait before you look them up online? What this means is that your customers and clients need a seamless approach. Potentially a Stratafy Approach

According to a recent state of the industry report released by Salesforce, 58% of consumers agree that technology has significantly changed their expectations of how companies should interact with them. If companies want customer satisfaction, the customer, and a keen understanding of their needs and wants, has to drive their strategy.

In influencers we trust. 

While advertising will always have a place in attracting attention, trust in advertising continues to decline as trust in influencers and peer recommendations (offline and online) continues to be a growing factor in decision making. According to a study by Nielsen, six in ten YouTube subscribers would follow advice on what to buy from their favorite creator over their favorite TV or movie personality.

Loyalty is earned, not given. 

Findings from the Salesforce report reveal “Half of consumers say they’re likely to switch brands if a company doesn’t anticipate their needs. This seismic shift isn’t only happening among consumers. The connected business buyer is also in control — bringing expectations of innovation, humanity, and personalization to the more cumbersome and expensive purchasing processes within their companies. Sixty-five percent of business buyers say they’re likely to switch brands if their company is not treated like a unique organization.” Not only do individual consumers want a unique experience, so do organizations.

A strong digital footprint matters more than ever before. 

The connected consumer is no longer a passive one. Not only do they drive their own buying journeys, they have extensive power to influence their peers. Most brands by now have come to the realization that they cannot bully or fake a brand reputation across the digital landscape. They cannot control the tidal wave of consumer-generated content such as social media posts and reviews, but they can help guide that tidal wave in a more positive direction by focusing on the customer experience. The focus needs to be less on creating a forced narrative and more on being a sherpa of sorts, working in collaboration with the connected consumer. Stratafy helps you build that experience quickly and effectively.

Immediacy isn’t a preference. It’s expected.

While focusing on millennials and Gen Z and understanding how to cater to particular demographics is certainly helpful, keeping in mind that there is a much larger undertow, i.e. the Connected Consumer, is going to be key for those brands and businesses who want to continue to grow and gain market share in the digital age.

Stratafy focus’s on the next generation and the changing trends

While being connected is extremely important, everything at the touch of a button on a device that is with them 24/7 is paramount. Here at Stratafy we are focusing on the customer experience first, which entails everything from the single customer view through to full app experience that is unique in the market globally. No building is too small or big to implement Stratafy with all modules fully customised per buidling.  Get in touch, Stratafy is the next wave in building management.

 

How Stratafy helps?

As a mobile first focus, Stratafy becomes the key to ensuring the owners and tenants are front of mind.

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    - Residential

    - Commercial

    - Retail

CONTACT US

lifestyle@stratafyconnect.com

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