According to the latest (June 2015) US Census, there are 83.1 million millennials in the US today, representing more than one quarter of the nation’s population! That is nearly 8 million more than the 75.4 million baby boomers alive today. Millennials will account for more than $1.4 trillion in spending by the year 2020 and be more diverse than the generations preceding them.
There is no doubt that the millennial generation is a force to be reckoned with. As we all know, the baby boomer generation changed how the world worked, and millennials are doing likewise — they are the consumers every industry will adjust to as needed to compete for their attention, buying power, and loyalty.
Just as the Baby Boomers did in the past, this group of young people carry enormous influence. They will force every market and industry to improve, step up, and otherwise deliver a better product or service. In the healthcare space, they are demanding greater emphasis on technical innovation, faster delivery of information/care, and forcing providers to focus on consumer-oriented healthcare.
Millennials make their healthcare decisions by using various social resources and they take a broader view of what affects their health and wellness. Healthcare branding or messaging aimed at this now-dominant generation stand the best chance of resonating when organizations adopt a strategy to be there, be useful, and be quick about delivering helpful information that lines up with their personal values.
Increase Demand for Technical Innovation
Unlike generations before it, millennials are 100% digital natives. They grew up on the internet and with mobile technology, and the vast majority take digital technology as a fact of life. They expect others will similarly rely on digital technology – including their hospitals and health providers. As they use healthcare facilities more, they are starting to demand technically-savvy physicians that know and take advantage of the latest tech for better service. These tech solutions include online health portals, easy self-serve options, online appointment scheduling, electronic medical record review, online payment options, and digital health services.
Solution: Making consumer experience, patient engagement, and satisfaction the core of what you do will be the best way to meet or exceed their expectations for healthcare technology.
Faster Delivery of Information and Care
The commodity millennials value most is their time. Time is money, and the millennial generation knows this better than most. They inhabit a work world where telecommuting is common, and the work day never fully ends, putting stress on the importance of each minute of each day. Therefore, healthcare should happen quickly and efficiently. Helping this group swiftly find information about your locations, providers, and services online will assist with faster tactical decision-making on their part, thus saving time and reducing frustration.
Solution: Evaluate and optimize your website today. Eliminate common time-wasters like unnecessary clicks and incorrect information for a greater healthcare consumer experience.
More than 75% of millennials look at online reviews before selecting a physician. Roughly half also use online review sites to learn more about their provider. It is not surprising that social media contacts also influence their course of action, which means managing your online reputation is even more critical if you hope to reach this age bracket.
Solution: Creating robust, personal provider profiles with review transparency on your mobile-optimized website could make all the difference with this audience.
Relevant and Personalized Experiences
Millennials also expect relevant and personal experiences vs. generic mass marketing. Personalization, as we all know, is only achievable through data and healthcare providers are struggling to deliver on these expectations.
Solution: Use a healthcare CRM to store information about this audience and leverage that information to create highly convenient, timely and personalized content for millennials.
Evolving both your care delivery model and the way you communicate with this group of healthcare consumers will show your organization understands them and cares about their values. For healthcare marketers specifically, prioritizing convenience, personalization, and transparency, embracing consumer technology and finding other creative ways to deliver value on a day-to-day basis will help you be an effective communicator among this audience.
Want to learn more about how to succeed with millennials as healthcare consumers? Download our white paper on Bringing the Amazon Experience to Healthcare.