Looking at the future consumer

Age does not determine how customers prefer to communicate with the financial services sector, according to a new study from Telus and IDC Canada.
The study, The Future Consumer, looks into shifting communications expectations of Canadian consumers, according to Telus.
The white paper from Telus and IDC Canada features research intended to help Canadian retailers and financial service providers understand the communication preferences of future consumers.
“The research confirms that for financial service providers and retailers to provide a positive customer experience, they must balance communication between the tech savvy and traditional consumers for at least the next 10 years,” Telus notes.
The majority of future customers fall into four categories, according to the research:
• Integrated: Generally males who are comfortable with new forms of communication technologies in daily life. They adopt new communication methods first and use the Internet for information and advice.
• Social Networkers: Majority are females who enthusiastically adopt new forms of Internet-based communication tools. They are the highest users of social networking, blogs, IM and e-mail.
• On the Move: Generally male students who are distinguished by their strong adoption of new communication forms based in mobile devices.
• Urban Established: The group is tech savvy, but adopts new channels slowly into their lifestyle. They respond to multiple-channel approaches to enhance their customer experience, including email promotions and notifications.
The study also found that nearly half of those with a cell phone cannot live without it; the majority agree that overall value is key for recommending a business; and more than one-third of consumers research online when considering the purchase of goods.