Millenials are a weird bunch and over the past couple of years, we have witnessed brands swiftly go bust squarely because they have just refused to adopt technologies that keep this demographic engaged. 2015 is certainly not different, with the internets of things debate still dominating headlines in the world of tech and more businesses than ever deploying and adopting innovative POS systems and the ibeacon technology powered by Apple. We at Reyou Limited have sought to decimate and better help businesses understand why this shift in customers engagement pattern is so instrumental in the survival of their business
The most striking result to have emerged from this rapid change in consumer behaviour is the recent survey which concluded that “82% of millenials are more likely to use their phones than speak to a sales associate”. So it begged the question, why is this shift in consumer buying behaviour so instrumental for businesses and why exactly should it bother brands as to where their core audience’s preference lies. The not so obvious answer to this really is, to understand your customers and better cater to their needs, you as a seller, need to understand their buying patterns and where they spend the most time during those crucial buying phase. i.e. mobile
Mobile is now king, and it is set to out-number PC’s in terms of the amount of purchase, payment and engagement generated via this channel in 2015. So it comes as no surprise as to why millenials would rather use their mobile devices than speak to a sales associate, who in their opinion might have a limited knowledge on what they seek versus the internet which harbours a great deal of information. The apps now being used by brands have become a lot more sophisticated and engaging in-terms of the contents they push out and how their rewards programs is merged with the app in real-time. With the implementation of ibeacon technology and location specific marketing from the likes of Facebook, Google, Groupon and Shazam the fight for domination in proximity marketing is just getting started.
Brands are now looking to strategically align themselves with new start-ups working with innovative technologies from the ibeacon to payment companies, seeing as a good deal of their business is already being patronised by the millennial demographics, for which they want an access to. For example Reyou limited partnered with UCL decide to bring their ibeacon powered app to their 23,000 plus students. Now business looking to tap into this millennial’s obsession with their mobile phones can either create an engagement question which is pushed out via a form of notification to these thousands of students. Reyou’s users who opt-in to notifications can engage with these brands via our platform in-return for a boost in real-time engagement from this demographic and increased brand awareness amongst this category of users and peers.
The impact of the ibeacon technology for businesses and brands especially when it comes to the millenials is huge. They more than ever will have access to coupons, rewards, information and video contents of the products they intend on purchasing in real-time. Meaning that they will only be interested even some more, in products that are relevant to them based on their location, context and current mood. Further emphasising the need for personalised offers and behind the scene use of dash boards to better target a business’s core audience in real-time, draw them to your location and engage them in a way that encourages more spending than they originally anticipated.
For help implementing an ibeacon strategy, contact us on twitter @reyou_biz