Smart, opinionated, passionate – these define the millennial generation, currently the largest group of buyers globally. As digital natives, they are obsessed with social media and want transparency and authenticity from the brands they choose. For the younger generation, shopping is about discovering new brands rather than a chore that just needs to be done. And, they prefer quality over price. For e-commerce brands, millennials make perfect advocates.
They are much more likely to click a photo or shoot a video of an exciting product and share it on social media than the previous generation. These inclinations directly translate into word-of-mouth publicity, referrals, and lower customer acquisition cost for businesses. Plus, they are some of the most loyal customers a brand can have. According to a study, 64% of millennials say that they are loyal to brands they like. So, as an e-commerce brand, you have got to have millennial customers on your side.
Millennials have massive purchasing power at their disposal, with studies estimating that they will spend up to $1.4 trillion in 2020 and beyond. What’s more, they do not mind spending more if they resonate with a brand’s values. So, if you contribute a share of your earnings to charitable or social causes, your store is likely to attract a lot of attention from millennials for the right cause.
It is important for you to ‘speak their language’ if you want them to keep coming back to you. From your website experience to returns policy, young customers prefer efficiency and speed. This is because more than 84% of millennials prefer to shop on their smartphones. Millennials are much more proactive about researching products before buying from them.
They usually know everything there is to know about your product before they click on the ‘buy now’ button. The key to success with the younger generation is to create a meaningful experience and build trust.
5 Proven Techniques to Improve Brand Loyalty Among Millenials
Here are 5 proven strategies you can use to increase brand loyalty among the younger generation:
1. Create personalized experiences:
For millennials, it isn’t so much about the product as much as the experience. They do not see products in isolation from the rest of the service you offer. So, it is important to think long-term to engage these customers.
Personalization should form a key part of your approach when dealing with them. This applies to everything from the discounts you offer to the product recommendations on your website – everything should all be tailored to match the needs of your customers.
To do this, brands need to develop an in-depth understanding of how millennials use their products and services. Fortunately, young people are comfortable sharing their personal information with brands to get personalized services that save them time and effort. This data can be used to simplify web page navigation and include self-service options such as knowledge base or chatbot.
2. Mobile-first, always:
Millennials are impulsive shoppers and do most of their shopping on their smartphones. This is why the user experience of your store should be seamless across devices. A responsive, easy to navigate store can increase your conversion rate and help reduce cart abandonment. SEO-friendly product descriptions, FAQs, and menu options are equally important.
These factors can reduce incoming calls to your customer support team and significantly improve customer experience.
3. Focus on quality and social responsibility:
It is not all about low prices for young customers. Research shows that the majority of millennials do not mind paying extra for high-quality products. They are more likely to buy products that are bold and unique. To create an engaging experience, focus equally on quality product data: high-resolution images, easy to ready product descriptions, and reviews. Since millennials like products that fit their personality, this will help them make better choices. For brands, this can be an excellent opportunity to reduce the return rate of products.
To create a genuine connection with millennials, you also need to be socially responsible. This does not always mean caring for the environment or contributing to charitable causes. For instance, socially responsible brands can take responsibility for product defects or follow a non-discriminatory employment policy.
4. Leverage customer data:
Young consumers are more than happy to share personal data with brands if they believe they will get something in return. According to Cognizant, 79% of customers want brands to provide better customer service with the help of the user data they collect.
For e-commerce brands, this is an opportunity to provide customized products and experiences which increase repeat sales and promote loyalty. You can also improve your brand reputation by leveraging data to create engaging experiences for customers.
5. Leverage influencers and User Generated Content
Millennials have a keen sense of discernment when it comes to marketing messages. They rely on social media and online reviews to verify brands’ claims before deciding to buy. So, to build loyalty with millennials, you need content that is authentic and relatable. Studies show that influencers and user-generated content can spark real conversations and attract young customers.
To create authentic promotional content, you can leverage your existing customers with 500 or more followers. This is likely to cost much less and provide better returns.
Young customers are usually independent thinkers and have strong beliefs and values. They want to be treated as people and not just accounts. 24X7 omnichannel customer support is thus essential for e-commerce brands to connect with them. If your budget does not permit you to scale your customer support, you need a cost-effective solution.
Outsourcing to an experienced partner like Helplama makes sense if you have large volumes and want to meet SLAs consistently. On the other hand, if you run a start-up and do not have time to build a customer support function, Helplama can set-up and manage it for you from start to finish. Our plans are flexible, affordable, and come with no legally binding terms and conditions. Contact us today to know more!