Think back to when you used to go grocery shopping with your mom…
Did she walk into the store with her list in hand, scanning the shelves for specific logos?
(Right now you’re probably nodding your head yes.)
If so, odds are she (and others in her generation) continue to shop in this manner—opting to buy from brands that are familiar and trusted.
However, this doesn’t seem to be the case for every generation with spending power…of which there are currently four primary groups:
- Baby boomers
- Gen Xers
- Gen Yers (commonly referred to as millennials)
- Gen Zers
On average, baby boomers and Gen Xers tend to be the most consistent of the bunch, staying true to what they know and exhibiting high rates of brand loyalty.
And since Gen Zers are just barely on the cusp of adulthood (and probably don’t have a ton of extra dough to spend just yet), that leaves…millennials.
So, let’s take a closer look at this much-talked-about group.
Statistics on Millennials and Brand Loyalty
A recent report revealed that just 19% of millennials in the United States describe their purchasing habits as tending to be loyal to certain brands and largely buying from them on a regular basis.
Further, a global study conducted earlier this year showed that a mere 29% of millennials usually buy the same brand. That’s 29% of millennials across the globe according to this data!
When you consider the level of brand loyalty demonstrated by preceding generations, these numbers become downright staggering.
And for businesses that are trying their best to target the millennial sector, the statistics are especially worrisome.
- What are the biggest issues surrounding millennials and brand loyalty?
- Why are the buying habits of individuals in their 20s and 30s so different from those of older generations?
- What do businesses need to do to get and keep the attention of millennials?
When it comes down to it, millennials just buy in a different way from their predecessors, and they expect more from the companies they give their money to…
The Truth about Millennials and Brand Loyalty
First and foremost, it’s worth noting that turning millennials into brand loyalists isn’t an impossible feat. People who fall into this age bracket can and do buy from the same brands time and time again.
That being said, businesses that are attempting to target millennials will probably have a more difficult time transforming those individuals into lifelong customers.
The research mentioned above says it all. Unlike previous generations that tend to stick with brands they know and trust, millennials are much more likely to shop around.
So, businesses have to put in extra effort to appeal to this generation and get them to buy again and again and again…
But it’s not just about having a good price point (which, let’s be honest, is important for those buried under a mountain of student loan debt). It’s about showing that your product or service is worth the price, that you care about how your company presents itself, and that you’re genuinely committed to serving your customers.
(NOTE: Don’t forget—not including Gen Zers, millennials are the most tech-savvy of the bunch. So if you’re trying to hide something about your brand, trust us…they’ll find out. That’s why we stress the importance of being authentic and transparent in your marketing efforts.)
The good news is that if you apply the tips below, you’ll be well on your way to snatching up millennials and brand loyalty.
How to Appeal to Millennials
1. Offer a reliable, high-quality product/service
According to the study on millennials and brand loyalty in the United States, reliability and/or durability is the biggest influence on the purchasing decisions of those in this age bracket. Trailing slightly behind is quality with regard to price.
If your company’s product or service isn’t one that will deliver lasting performance, you can be sure that you won’t make a lot of headway with the millennial crowd (or…really anyone, for that matter).
Put forth the effort to develop something that holds up over time. In doing so, you can build a solid reputation in your millennial customers’ eyes.
2. Provide a positive and enjoyable experience
It’s been shown that millennials also lean more toward brands that strive for great customer service.
This sounds like a no-brainer, but you’d be surprised how many companies fail to make customer service a priority.
Make sure your team is doing its best to address concerns, find answers to questions quickly, and, most importantly, show genuine interest in customers. Even if millennials have been loyal to your brand up until now, just one poor customer service experience could cause them to switch to your competitor.
3. Show you care about your employees
A significant number of millennials polled in the United States stated that they would buy less from a brand if they found out that the company treated its employees poorly or took part in unethical business practices.
The opposite is also true: Millennials will often buy more from a brand that respects their team and the world as a whole.
- Start acknowledging your employees’ good work on social media.
- Talk about ways you strive to create a positive environment in your blog posts.
- If you help out the community in some way, share that in your newsletters.
4. Engage with them where they are
A big part of the millennials and brand loyalty equation lies in location. You need to be where they are, and where they are is on social media.
Millennials appreciate brands that are active on platforms such as Facebook, Twitter, and Instagram.
If you aren’t already doing so (which, let’s face it, you really should), make social media a key part of your marketing strategy when aiming to targeting millennials.
Given that the millennial generation encompasses those born in the early 80s through the mid-90s, it offers a huge pool of potential consumers that you can’t afford not to target.
So, use the tips we’ve offered here to crack the code when it comes to millennials and brand loyalty.
You may just find that the steps you take make you more appealing not only to millennials but also other generations with spending power.
And isn’t that the dream?