How To
How To Build Loyalty With The Millennials
Millennials, also known as Generation Y, refers to those people born between the early 1980s and the late 1990s. Sometimes referred to as the ‘echo boomers,’ Millennial characteristics vary by region, depending on social and economic conditions. However, since they take up a majority of the target audience for almost all markets, it is crucial to have the loyalty of this customer base. That being said, they are also considered to be the most brand loyal group of customers that many generations have seen. The challenge lies in communicating the right brand values in authentic and succinct ways.
The current generation has seen a wave of technology innovations that have impacted the world. Starting from the smallest mobile phones to qwerty keypads and facial recognition technology, they have been present for a wide range of changes and developments. They are aware of the kind of products they buy and generally have an emotional connection with these brands. To connect with a generation that developed alongside technology, share your values openly. Zoom into a niche, attract millennials who connect with you on an emotional level and resonate with the brand’s values. Kentucky Fried Chicken found this emotional connect with their out of the box (literally) burger boxes that can be converted into gaming devices.
Studies have also revealed Millennials are some of the first people to come forward during crisis situations to help others. 4 out of 5 millennial customers are more likely to purchase from a company that supports a cause they care about. Supporting social causes won’t just help bring in millennial customers but will also help your companies overall image as well. Multiple brands have launched campaigns centered around a social cause through which customers can donate money by buying products. These funds can then be used to raise awareness and fund social organizations.
One most important trait of the millennial generation is that they are always social. Social Media has become a powerful tool for not just spreading information but also to start revolutions. Continue constant communication with millennials through social media channels even if it is just to ask their opinion. American fast food chain Wendy’s is the perfect example of using social media to their advantage. From giving a chicken nugget lover free supply of chicken nuggets for a year to replying to trolls, Wendy’s social media team makes sure they reply to questions, customer complaints and in general keep their followers entertained.
At the end of the day, it does not take much to gain the attention of the Generation Y. However, it is important to remember that one misstep can also lead to a great amount of backlash. Supermodel Kendal Jenner and Pepsi faced a lot of backlash for a misplaced advertisement. YouTube also faced harsh criticism for placing a wrong video on the trending list. This generation may have a very small attention span but if they do think something is wrong, they do not keep quiet.
The end goal is to keep your millennial customers happy just like every other customer. The only thing that may change is how you do it.
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