Marketing to Millennials
As a business owner, you know that loyalty is everything.
It really speaks volumes. It’ so much easier and more profitable to retain loyal customers than it is to generate new business.
And loyal end-users are more likely to tell their friends about you.
So, it’s a no brainer to work on consumer loyalty.
Baby Boomers are known to be pretty loyal to their favourite brands.
But if your target market is millennials, you may feel as though you are banging your head against a brick wall.
Why? Because they don’t tend to display the same consumer loyalty.
Yet according to data gathered in a survey by Facebook IQ, over fourteen and a half thousand millennials – aged 18-34 – say they want to be loyal to their favourite brands.
In fact, they are 1.75 times more likely to do so than baby boomers.
So, what’s stopping them?
Different strokes for different folks
The thing is, millennials have different expectations and habits than their parents.
Technology allows them to move around more and puts the world at their fingertips.
But the easy access to technology and their tech-savvy mindsets make them more inclined to want rapid responses.
If it isn’t easy to get in touch with a brand, or they are slow to react to questions and concerns, it’s a real turn off for millennials.
So, if they are your target, you need to make sure you are easy to reach. And your customer feedback management team needs to be extremely on the ball if they want to keep millennials happy.
Keep it clean
Millennials are a hygienic bunch too.
When it comes to shopping for groceries, they are more inclined to look for foods that are clean and healthy.
The same criteria come into play with them when they are dining out. So, if you’re aiming to pull in a younger crowd, ditch the fried foods!
The health consciousness doesn’t stop with food shopping and eating out though.
The hygiene level of a shop is also high on their list of properties. If it’s grotty, they ain’t coming in – and certainly not coming back again!
Money, money, money
Another element that stops millennials being overly loyal is their bank balance.
Considering that a chunk of them weren’t born until the late 90’s, many of them won’t hae had chance to amass their fortune!
To this end, they are more inclined to shop around for the best deals.
For a brand, the best way around this is to offer products that are affordable and yet good quality.
Draw them in now for the things they want and like at a price they can afford, and there’s more chance they will stick with you moving forward.
What’s more, if they are still a loyal end-user as their financial situation improves and their tastes change, they are more likely to still choose you for more expensive products and services too.
The little people
With the ankle biters in mind, people tend to be more loyal to brands.
Nappies are an excellent case in point…. No parent in their right mind would switch allegiance to Pampers for no reason, if Huggies have consistently done a good job at containing all the disasters!
So, again, as millennials age and venture into parenthood, their consumer loyalty is also likely to increase.
In fact, 42% of millennials with a child under the age of 1 describe themselves as being loyal to their favourite brands, compared to only 36% of those with no kids.
It’s all in the mind
The way people perceive a product and remember it from an emotive end user experience also plays a part on the loyalty front.
Finding things that are healthy, cool, clean, friendly and innovative are among experiences that are most likely to stick with millennials.
Service and trust also have a strong role to play when it comes to increasing loyalty.
At the end of the day, it’s vital they you know who your audience is, what stage of life they are in, what their expectations are and what they value most.
(If you need help, give you a shout here at The Monachie Project and let our user experience monitoring deliver audience insights)
TYes, if you want to keep up in this day and age, it’s important to adapt.
So, get out there and think about upping your game to deliver a more emotive customer experience.
You might just be surprised at the results.