Much has been said about millennial behavior and trends, but like it or not, one thing is clear — the millennial consumer mindset holds real power in today’s economy, and mustn’t be underestimated.
In the recently concluded Systems Integration Philippines (SIP) Expo at the SMX Convention Center, Globe myBusiness Industry Manager Eli Malicdem shared how Globe myBusiness addresses the most crucial “NOW generation” issues and how Philippine businesses can keep up with them. The annual Systems Integration Philippines expo is an international trade fair that gathers business solutions providers from around the world.
The “NOW Generation” — which pertains to today’s tech-savvy millennials — are projected to be the major decision makers and purchasers for the next 10 years. In the event, Globe myBusiness Industry Manager Eli Malicdem set the tone of the presentation by reminding the audience on the hows and whys behind the need to cater to this market, and after knowing all the reasons, what can be done to reach and serve them better?
According to a study by Publicis Manila, Filipino millennials, in particular, are believed to have stronger purchasing power than their global counterparts. If Philippine businesses want to keep up with this generation’s lightning-quick needs, they must understand the millennial consumer mindset and keep their businesses attuned to their needs.
These needs include time, a sense of work+play balance, productivity, easy and fast access to information, and products and services that they feel are bespoke to their needs — all of these at a lightning-quick speed. Hence, businesses must provide all these for them and more, NOW.
“Customers today, they need it now. You have to be able to respond fast,” said Gary Cayton, President and Chief Executive Officer of Dynamic Outsource Solutions, Inc. (DOS Uno or Dos 1) in a video presentation shown at the event which featured Globe Labs units. “If you are digital, you’ll be able to be more effective. You’re able to improve your productivity, to perform better, and become more profitable. If you want to get ahead, get in today’s millennial thinking, and be there. Otherwise, you get lost.”
And how does a brand adapt to become more appealing to a generation like this? By responding with open arms, making one’s brand more accessible and familiar, and not delaying the delivery of their needs (which can’t be emphasized enough).
On a more actionable level, businesses can also do this by tapping into the power of Application Programming Interface or APIs, which enhance customer experience. During the event, several expert Globe myBusiness units presented how they utilize different types of APIs to yield desired results. SHARE TREATS, a gifting service that allows sending casual treats through mobile payments, for example, uses charging APIs as an edge.
“Not everyone has a credit card,” SHARE TREATS Chief Executive Officer Jed Lee pointed out in the video presentation. SHARE TREATS is a gifting service that allows sending casual treats through mobile payments. “The most affordable, common, and simple payment for the PH is the Load Payment. It increased our transactions from 10 to 20% every month.” In a nutshell, load payment is using your phone’s current load or credits to pay. Another payment workaround that SHARE TREATS has employed for non-credit card holders is GCash, which functions as an e-wallet.
Paolo Baltao, Head of EON Banking Group, shared how they use sponsored-access API enabled by Globe Labs for improving customer experience. Sponsored-access API encourages customer engagement by offering free data when they use your app or website.
“This led to an increased engagement, increased transactions, and increased usage of our EON app,” he said. “We digitize not just for the sake of using technology, but to deliver a wonderful experience.”
Malicdem concluded the presentation by reinforcing how automation tools and APIs should be seen as an advantage that will complement businesses and human resources which has been recognized in the IT roadmap to 2022.
“Being able to do well in both the lower skills and the higher level skills, you will be able to respond better to the needs of the Now Generation,” she said, inviting everyone to tap into the power of APIs to create more powerful business connections.
Send your brand messages and delight the NOW Generation with the power of APIs.
Discover more about APIs to help you connect with the millennial market on the Globe myBusiness website.
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