Uploaded on Mar 8, 2022
PPT on Role of Millennials in your brand success
Role of Millennials in your brand success
ROLE OF MILLENNIALS IN YOUR BRAND SUCCESS Who Are the Millennials? + Millennials are the group of people born from 1981 to 1996, dates recently crystallized by the Pew Research Center after years of vagueness that set them anywhere from 1980 to the early 2000s. S O U RCE : WW W. I N V E S T O P E D I A . CO M 2 Why Do Millennials Matter? + Millennial consumers don’t put as much emphasis on a great deal as the older generations, instead they focus on the values associated with the product or service. + Brands that can tap into millennial values are the ones that will have staying power within this buying group. S O U RC E : W W W. COXBLU E . C OM 3 Millennials value time + As consumers on the go, millennials value their time and respond well to brands that recognize this point. Brands savvy enough to offer mobile- friendly service and checkout options as well as well-timed marketing offers are likely to win a loyal following from millennials. S O U RC E : W W W. VO CA L CO M . CO M 4 Millennials use smartphones to make purchases + Millennials are a mobile-dependent generation, and their mobile use frequently involves making purchases. + A Nielsen study confirmed that 85% of millennials own smartphones, while the Badgeville study cited that 58% of millennials are mobile shoppers and 41% have made purchases on their smartphones. S O U RC E : W W W. VO CA L CO M . CO M 5 Millennials are vocal on social media + Just as millennials consult peer comments on blogs and social media before making purchases, they are also keen toward expressing their own opinions post-purchase or service. + Negative experiences expressed on social media may lead to customer churn, but great experiences may result in brand advocacy that leads to new business and long-term loyalty. S O U RC E : W W W. VO CA L CO M . CO M 6 Millennials like to contribute to brands + Millennials not only support brands that reflect their personal values, but they also love brands that encourage customer participation. + Brands that proactively ask for customer opinions on products and services and invite customers to vote for a favorite or share their own content tend to appeal to millennials. S O U RC E : W W W. VO CA L CO M . CO M 7 Millennials embrace the omnichannel experience + Millennials like to engage with brands on multiple channels, often switching from one social media platform to chat as they feel like it. Brands should take notice and be sure to embrace an optimized omnichannel strategy. S O U RC E : W W W. VO CA L CO M . CO M 8 Encouraging Loyalty with Rewards + There is a common misconception that millennials aren’t loyal to brands. That’s not necessarily true. Millennials have a tendency to be loyal to brands who reward them for their loyalty. + Rewards programs can be successful among millennials, especially in the travel industry. S O U RC E : W W W. COXBLU E . C OM 9 Practicing Transparency + Millennials are inherently distrustful, especially of big corporations. To get in touch with young consumers, companies need to open the door and let them in. S O U RC E : W W W. COXBLU E . C OM 1 0 Promoting the Experience + The millennial generation at large doesn’t want to just buy and use a product or service—they’re looking for a full customer experience. + When someone goes to an Apple store, for instance, it’s not typical for a customer to simply choose their product, pay for it and walk out. S O U RC E : W W W. COXBLU E . C OM 1 1
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