Born during the brink of tech revolution in the 1980s and 1990s, Millennials are becoming the new influencers in the workplace and marketplace. The world is becoming theirs to own, and however they shape the future, it’s likely their digital instincts will play a role. Consider these facts from the Millennial Generation Research Review:
- 80 percent of Millennials sleep with their cell phones next to their beds
- Millennials are 2.5 times more likely to be early adopters of technology than are older generations
- 60 percent of Millennials produce and upload online content
Perhaps more telling, according to McCann Worldgroup research, 53 percent of young people would rather give up their sense of smell than give up their technology.
Clearly, technology is a priority, and this readiness to embrace and champion digital technology of all kinds is already powerfully changing the business landscape. Because Millennials demand it, the ecommerce market is growing, mobile banking is gaining serious ground and major transactions occur via the Internet.
With this generation at the helm of our digital society, e-signatures will become a key tool in responding to their needs both as consumers and leaders in the workplace:
1. The Need for Speed
Though many remember the days of dial-up, Millennials are now accustomed to instantaneous processes. They came-of-age with cell phones and email, so they’re used to connecting with others at the moment they desire. And if it’s 5:00 on Friday and their cash has dwindled, it’s nothing that an ATM or a debit card can’t fix.
This insta-culture has ignited a demand for breakneck speeds for just about everything, including business transactions. E-signatures allow companies to capitalize on this insatiable appetite for instant gratification by allowing transactions of all kinds to happen instantaneously (and securely).
2. Unlimited Boundaries
The Millennial generation also values mobility in an unprecedented form. With more than 85 percent of 18- to 24-year-olds and 86 percent of 25- to 34-year-olds owning smartphones (per Nielsen insight), today’s youth and young adults want the ability to do what they want, precisely when and where they want. Talk, text, browse, work, create, buy, sell – the opportunities to coordinate life anywhere are almost endless, and this generation embraces it.
A secure cloud-based e-signature solution (like our own) lets signing occur anywhere there is an Internet connection on virtually any mobile device, giving this generation the tools it needs to virtually access the world from wherever they may be.
3. Seamless integration
Accenture research points out that 8 in 10 Millennials want integrated, seamless shopping experiences, regardless of the channel. This speaks to this generation’s desire to use technology that serves a purpose – to make life easier and more convenient. If it can do that, well then chances are this generation will embrace it. With e-signatures that can be fully integrated into existing software, online workflows and transactions become intuitive and accommodating to their online lifestyles.
These needs will only continue to snowball. Keep in mind that while most have been shaped by the avalanche of technology evolution, many Millennials remember life before cell phones, web browsers and social media. Our youngest generations, on the other hand, have grown up with advanced technology at their fingertips their entire lives – making e-signatures and paperless processes more critical than ever.
With Millennials rising in the workplace and in purchasing power – and other tech-savvy generations underfoot – is it time for you to consider the value of e-signatures? Download our whitepaper on how to adopt digital signatures to get started.