How can we create brand loyalty from Millennials?

The concept of brand loyalty is undergoing a generational shift, as a result of the widespread use of social media and rise of the ‘always connected’ consumer.

Video market research illuminates key insights into the drivers of Millennial brand loyalty. Millennials expect brands to not only offer compelling incentives but also to engage them in meaningful ways. Our research reveals that over half of Millennials seek rewards or experiences following their interactions with brands, underscoring the importance of incentivising consumer engagement.

At least half want rewards or experiences after interacting with brands, and more than two thirds are loyal to brands that engage directly with customers on social media.

However, the landscape of Millennial engagement is not uniform across all industries. While brands in certain sectors thrive in engaging Millennials through social media interaction, others face challenges in resonating with this audience. Engagement with more functional institutions is tenuous. Millennials aren’t sure what supermarkets can offer them on social media, and think that it makes financial institutions look “silly” to engage with them online. Current research and understanding is supported by vox pops market research from Vox Pops International.

There isn’t an exact, winning formula to achieve loyalty among this category – but to maintain loyalty, brands must offer numerous ways to engage them, and provide appropriate and captivating rewards.

Brands that successfully engage Millennials in this way will be able to foster brand loyalists, who will be compelled to return to that brand.

Ultimately, while there may not be a one-size-fits-all formula for achieving brand loyalty among Millennials, the key lies in sustained engagement, personalised experiences, and authentic interactions. Brands that adeptly navigate this terrain will not only cultivate brand loyalists but also establish themselves as trusted companions in the dynamic consumer landscape.

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