In the Philippines, millennials make up one-third of the total population, which means that in time, majority of the buying market in the country will be comprised of the said generation. For marketers and business owners, this means that they have to re calibrate their marketing approach that will fit to the behavior and preference of the young generation.
But in light with these changes, the future is actually bright for marketers (especially for established brands and companies), because according to a study, customers who belong to the millennial age group are more brand loyal than of those from the previous generations – baby boomers and generation Xers.
However, in today’s saturated market, millennials have unlimited choices when it comes to purchasing decisions, making it a struggle for most companies to get the attention of the millennial market and keep them loyal to their brand.
Here are our tips for your company’s brand to establish customer loyalty among millennial consumers:
1. Connect with them and keep them up-to-date
Given that the millennials’ lifestyle is highly influenced by the internet and social media these days, it is important for you to utilize and make use of these channels to connect with your loyal customers in a personalised manner, and keep them up-to-date about news and promos. This way, you can ensure that your brand stays on top of your customers’ mind.
2. Update and improve your product or service
In today’s market where innovation is already common, you have to make continuous efforts to cope with the ongoing development to stay ahead of the competition. Through this, your loyal millennial customers will not even think about turning to your counterpart.
3. Reward, Reward, Reward!
Regardless of which generation we are living in, rewarding is still the best way to show how much you value and appreciate your loyal customers. But since we are talking about millennials here, following the traditional practice might not be the way to go about it. Given the mobile presence of most millennials, you might as well utilize a platform that could easily send out rewards. One solid example is electronic gift certificate that they could use in multiple stores, so they could choose their reward according to their needs and preference.
If you are looking for solutions to connect to the millennial customers and establish brand loyalty among them, Sodexo Benefits and Rewards Services, a renowned company in the field of gifting and rewarding, offers customer loyalty program solution that has the capability to reshape the way you reward. With its latest digital solution, the Sodexo Mobile Pass, you can now reward your loyal customers without going through rigorous logistical processes.