Millennials are also the most loyal generation to their favorite brands. Nearly 90 percent of Millennials are actively using two to three devices a day. Half are using social media or other internet-based tools to influence buying decisions. Just over half (50.5 percent) say they are extremely loyal or quite loyal to their favorite brands. One hypothesis for why Millennials are so loyal when faced with nearly unlimited choice is social proof. This is the psychological concept that humans naturally look toward those around them to help make decisions. It’s striking that in a world with limitless options at consumers’ fingertips, one would think that brand loyalty would be declining.
CrowdTwist study: 43.5 percent of Millennials say they use social media to spread the word about products or services. Brands must not only be active on social networks, but also find ways to get consumers to talk about and share with them on these platforms. Only 1 percent of millennials say they are influenced in any way by advertising. What does work, however, is delivering authentic and quality experiences every time the customer has an interaction with your brand, no matter where they encounter you, the study says. It also shows brands the importance of social media as part of their consumer engagement and loyalty strategies.
Millennials are more loyal to brands that engage directly with customers on social media. Brands are building strong, emotionally driven relationships that will stand the test of time. The line between the digital and analog worlds is blurring, and Millennials are fully embracing this shift. To earn devotion from these customers, brands must use all the digital tools and unique incentives at their disposal to keep them engaged for the long term. The Crowd Twist study found that nearly 50 percent of respondents wanted socially conscious benefits like charitable giving or one-of-a-kind rewards.
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