Redefining Brand Loyalty
According to research from Adroit Digital, Millennials do consider themselves brand loyal. They just define it differently than their Gen X siblings or Baby Boomer parents.
Their criteria include an expectation of corporate conscientiousness, and a willingness to change based on opinion and feedback. About 52% say that for brands to maintain relevance, they have to be willing to change based on consumer opinion, and 44% expect brands to have open dialogue through social channels.
The research — based on 2,000 American Millennials ages 18 to 33, who all owned both a computer and a smartphone – reveals they are most likely to be loyal to their cell phone providers (59%), followed by fashion, with 56% saying they are devoted to clothing, shoes and accessories. By category, hotels and airlines fared worst, with 16% and 25% respectively.
In terms of influence, TV still carries the most clout, with 70% saying it shapes how they see a brand and its value, 60% say social exerts that influence. Online display had 42%, online video 39%, and mobile just 33%. (But a larger percentage, 39%, feel that brands require a mobile presence in order to be modern.) Only 31% felt magazines had an impact, with radio and billboards influencing just 21%.
Read the full report here.