Companies neglecting Gen Y customer channel preferences
Millnet Document Solutions (MDS) surveyed 1500 UK consumers to ascertain how successful they felt companies were at accommodating their channel preferences, and which sectors they felt performed the best, and worst at doing so.
The online research has found that companies are working particularly hard to accommodate the channel preferences of the section of the population with the biggest disposable income; those aged 45+. However, 58.5% of those aged 18-24 say their channel preferences are ignored by more than half of the companies they buy from. This proportion decreases significantly when looking at consumers over the age of 45 (45-54yrs 24.3%; 55-64yrs 21.7%; 65+ 22.8%).
The study also found wide variations between how well industry sectors are managing to satisfy consumers’ channel preferences, 58% of consumers said the Fashion sector offers the most channel choice and acts responsibly on channel preferences. This is compared with just 29% who said the same about the Leisure and Entertainment sector. Overall, mail and email are the top two favoured channels for consumers.
Yolanda Noble, CEO, MDS comments: “Delivering communications via the customer’s preferred channel balance is a complex challenge. Media fragmentation means businesses now have an increasing number of ways to communicate with their consumers. If businesses do not take the time to learn their customers channel preferences they risk losing them. In short, knowing the customer – spending time and resource on data collection and analysis and building customer profiles – is a critical component of successful communication, and ultimately, customer value.”