Changing Workforce Demographics' Impact on Customer Insights Studies

Millennials are the catalysts of the changing customer landscape.

According to Forrester, this generation makes up 75% of B2B buying teams. As they move into leadership roles across various sectors, understanding and engaging this demographic becomes crucial for businesses. Millennials now wield significant (and growing!) decision-making power, making it imperative for companies to master the art of effectively communicating with them.

In B2C, Millennials’ buying behavior, prioritizes value-driven purchasing decisions, often seeking products and services that align with their personal and organizational values, such as sustainability and social responsibility, unlike their predecessors who focused more on cost and brand loyalty. This spills over into B2B: “They are significantly less likely than older buyers to cite 'growing or retaining revenue' as their top business priority but twice as likely to call 'improving environmental sustainability' a key priority,” Forrester’s data shows.

With every generational shift in the workforce, our engagement strategies must evolve to meet their unique needs--beyond adapting to new buying behaviors and trends.

For Voice of the Customer work, it's critical to adapt to effectively connect with Millennials.

In the rapidly evolving B2B landscape, engaging with Millennials requires more than conventional approaches. As an account executive specializing in Customer Insights using Voice of the Customer (VoC) methodology, I've discovered that the key to unlocking valuable Millennial feedback lies in genuine, personalized interactions.

Here’s a rundown of best practices that have proven effective in not only reaching but truly engaging Millennial decision-makers.

1. Personalization is Paramount

Millennials have grown up in a digital world where personalized experiences are not just appreciated but expected. In Voice of the Customer initiatives, this means moving beyond generic survey methods and engaging in tailored, meaningful conversations. In our experience (and perhaps to your surprise), this generation loves participating in in-depth interviews. But, they need be well-designed interviews with relevant questions, and facilitated by a professional to earn Millennials' respect. That means they must be conducted by real researchers (not a newbie in a call center reading a script) who understand the nuances of the study participant's industry and business. For Millennials, an in-depth interview must move beyond a Q&A and be a discussion. This approach ensures that every interaction feels relevant and valuable, significantly boosting engagement rates, especially compared to traditional web surveys or surveys conducted by a call center.

When I think about "well-designed interviews with relevant questions," I consider a recent viral social post:

It's funny because it's true. You have to personalize your questionnaire and even your methodology, or risk being a joke.

2. Embrace Technology Wisely

While personalization is crucial, so is the intelligent use of technology. Millennials are digital natives, generally comfortable with technology in all its forms. However, they also value authenticity and can quickly detect when technology attempts to replace an opportunity for genuine interaction. Use automation judiciously – perhaps to aid researchers in data collection and analysis. But, don’t use technology to supplant direct engagement with clients and research participants...Millennials are so well-versed in tech that they know when a company is cutting corners, and just like the meme above, many find unpersonalized technology usage laughable. A balanced approach keeps the human element front and center, which is critical for meaningful engagement, and thus, results.

3. High Responsiveness and Action Plans

Effective Voice of the Customer initiatives hinges on the ability to listen and respond promptly. Millennials, in particular, value being heard and expect their feedback to result in swift action. If and when a company executes any customer insights program, it is essential to correct and/or respond to issues that the participants identify. Good customer insights reports include action plans—implement them. In our experience, if you don't do anything meaningful with customer feedback, you'll do more harm than good.

4. Collaboration

Millennials highly value collaboration and are more likely to engage when they are part of the process. In proper VoC studies, participants feel like they are part of the journey—it’s vital to share the purpose and potential impact of their feedback. As Forrester reported, Millennials are “more than 30% more likely than their older counterparts to say that a provider’s investment in co-creating or co-innovating with them was the primary technical reason that they chose the provider.”

Quality customer studies makes the participants feel like co-creators, especially when they're designed to capture more than scores and capture ideas and user-needs. They can make Millennials more invested in the process and outcomes. Probing, open questions gives them the focus. The right VoC questions transform participants from mere respondents to active contributors in shaping solutions that affect their industry.

5. Continuous Improvement and Engagement

Finally, engaging Millennials is not a one-off effort, but a continuous process of improvement and re-engagement. Companies must ensure that feedback is cyclical, contributes to a cycle of development that leads to tangible adjustments to changing markets, innovation, and trends. Additionally, keep your channels open, and invite ongoing dialogue around shared goals and mutual growth.

The Story Isn't Over

Speaking of continuous improvement, every generation brings its own flavor to the table, and it's up to us to adapt our strategies accordingly. Millennials have taught us the art of personalization, the balance of tech, and the power of collaboration. But hold onto your hats, because the Gen-Z wave is just around the corner (gulp). Imagine a generation that's grown up with smartphones in hand and has had a social media presence since birth. They're bound to bring fresh perspectives and innovations to the world of customer insights. Until then, let's continue to refine our approaches, stay curious, and remain adaptable.