Episode 64 – Planning Tech for Millennials

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A Tech Tuesday Episode. All things Technology related to providing digital customer service.

Brought to you by:

  • The Social Pack: Get on the inside to stay on the topside. Join today!
  • Telligent, a Verint Company: A leader in community software for digital marketing and support communities. Its social software solutions help bring together modern collaboration technologies into a single integrated suite that includes social applications and social services that enable organizations to create communities of interest for their customers. Telligent’s solutions include both external customer and internal employee communities.A customer service community enables you to answer a question once and scale it to an unlimited number of customers.
  • MorningBrooke Digital Consultancy: If you need help with digital customer support strategy go to www.MorningBrookeDigital.com

“I believe that rejection is a blessing because it’s the universe’s way of telling you that there’s something better out there.” – Michelle Phan, ipsy.com

Book of the Day: Millennial Workforce: Cracking the Code to Generation Y in Your Company – Javier Montes

Informed by the Forbes article published 11/25/2017 titled “6 Tips For Deploying New Technologies For The Banking Customer Service Experience” written by Joanna Belby

Planning Tech for Millennials

  • What’s the article about? 
    • What the banking industry should be focused on when deploying technology to improve CX
    • Jim Olson, Principal, Marketing Communications, Edward Jones, Jeremy K. Balkin, Head of Innovation, HSBC Bank USA, HSBC, and Joanna Belby, Compliance Specialist for Proofpoint, were on a panel about bringing retail and digital strategies together to focus on the customer experience.
  • What does that have to do with millennials?
    • Apparently everything
  • Stats from the Article
    • One third of the U.S. population was born between 1980 and 2000.
    • Between 70% and 80% of everyone accesses the internet on their phone and two-thirds of Americans bank on their mobile phone as a first choice.
    • In the next 10 to 20 years, $30 trillion worth of assets will be transferred from the boomers to their heirs.
    • 43% percent of affluent millennials have student loan debt, so managing through their short term needs and keeping long-term priorities on track, is a bigger challenge for this generation
  • About Millennials
    • Olson:
      • They focus on personal relationships and a have a greater desire to work closely with a financial advisor. But their needs are different.
      • Millennials are more hands-on
      • A little more engaged
      • Use technology a little more
      • 43% percent of affluent millennials have student loan debt, so managing through their short term needs and keeping long-term priorities on track, is a bigger challenge for this generation than any we’ve had, concluded Olson.
    • Balkin
      • three distinct experiential groups: older, middle and younger.
      • In communications firms should have three distinct millennial strategies
  • So What’s the Right Tech for Millennials?
    • Balkin
      • Upgrade the retail banks across North America.
      • Roll-out of touch ID for security
      • Voice biometrics (your voice is a password when you contact the call center)
      • Live chat
      • Everything has to be in the mobile ecosystem.
        • Day-to-day banking
        • Lending
        • Communications marketing
        • Security.
        • “You need technology to communicate with millions of customers, to build business at scale and to deliver a new customer experience.” – Balkin.
    • Joanna Belbly
      • Use the form of communications and technology that their clients and prospective clients prefer today, whether that’s an in-person meeting, phone, email, texting, or social media.
      • Prove to regulators that you are supervising the activities of regulated persons and  produce these records upon demand. That means that firms need to work with a third-party provider to capture texts and social media.

 

Sponsored by: Telligent, A Verint Company

  • Why Community? Why Telligent Community??
    • Customer support communities create a compelling return on investment and gives your customers the support options they want.
    • Telligent, now a Verint a Company, has been a leading social community platform provider since 2004.  There are few companies out there that can say that with a proven, profitable, and stable track record of success. Hundreds of communities are powered by Telligent Community and Telligent Community is trusted by some of the most demanding brands for its reliability, scalability, and security. It’s so well trusted, even mission critical government and defense programs use Telligent Community for engagement and collaboration.
    • In as little as 15-20 business days, Telligent Community can be implemented, configured, branded and launched.
  • Check them out at www.Telligent.com 

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About the author, Frankie Saucier

Frankie Saucier created the Socially Supportive podcast because believes that in order to advance digital and social customer care, leaders must come together in a community where colleagues can collaborate on the latest strategies and discuss the best technology. The Socially Supportive podcast creates a space for that community to thrive. She is also the Founder and CEO of Socially Supportive, a digital consultancy that helps brands communicate effectively with customers online. Frankie is a member of several consortiums, including the Social Care Leaders Group, an international group of leaders in the digital and social care space. She has over 20 years' experience in customer experience, including 7 years creating and running the digital customer support team at the 3rd largest cable company in the U.S. She also holds a bachelors in Mass Communications.

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