[vc_row][vc_column][mk_image src=”http://crownedmc.com/wp-content/uploads/2017/06/how-to-build-brand-loyalty.png” image_height=”800″ align=”center”][mk_fancy_title size=”18″ font_family=”none”]When it comes to stereotypes millennials are never short-changed. Whether the generation is perceived as lazy or having a sense of entitlement, negative and often false depictions abound. One fact about millennials showing up in studies often goes overlooked: having strong brand loyalty. Social media sites always find loyal millennial customers, but outside of that platform there are companies who can hang on to Generation Y consumers. Studies have shown that 50.5 percent of millennials are loyal to favored brands. It is worth considering how this sense of brand loyalty comes about.
Word of mouth has always been a strong marketing strategy and social media has made this easier for brands to reach millennials. On social media, users can share or like products and brands with their friends or followers. This simply says having a presence on social media makes brands not only personal but easier to show up in conversations among consumers. In a study conducted by CrowdTwist 43.5 percent of millennials surveyed say they use social media to discuss products or services with cohorts. A strong way to build brand loyalty is to market a brand via social media and interact with customers in the hopes that they will get the word out about products and services online. As the study shows, chances are high millennials are likely to do so. Word of mouth via social media shows millennials will build brands by sharing positive experiences with a product or service, bringing in new customers. Although there is an infinite number of resources online, the use of social media shows this is no threat to old marketing tactics. Brands must find ways to interact with customers on social media and reward them for sharing and liking content. It’s a bonus if the brand is mentioned in posts.
A dramatic change for millennials from older generations is advertising no longer has the same effect. Only 1 percent of millennials say advertising has an impact on them, per a study done by Elite Daily. The brand experience should be personalized to reach a millennial audience. Millennials surveyed by Elite Daily build loyalty to brands who respond to them over social media. They are looking for customer service that offers authenticity and worth. This form of marketing can be found directly through social media by friending or following a consumer or promptly responding to complaints and praises.
50 percent of those surveyed by CrowdTwist said they also wanted positive experiences like “socially conscious benefits” such as donating to charity or unique rewards while interacting with brands on social media. Altruism is an important aspect of a brand to millennials as 75 percent say it’s important for companies to give back to society, according to Forbes. Social responsibility is a great tool for brands to earn loyal millennial customers. Millennials have a strong affinity toward companies that perform social good instead of solely existing to make a profit.
Brand interaction with millennial consumers digitally through venues like social media works to build loyalty through authenticity and emotion. It has the benefit of bringing in new products through word of mouth on social media platforms. Generation Y is made of consumers loyal to brands and it’s important to find ways to bring them into a company’s orbit.