Tuesday, September 27, 2011

characteristics of the 76.6 million Millennials, age 16-31:
  • Brand loyalty among Millennials is strong overall.  70% feel that once they find a company or product they like, they keep coming back, and 80% take action for brands they trust. But it's very difficult to win them back after a bad experience:  14% say definitely that once a brand has lost their trust and respect, the brand can never regain it. ("8095 Exchange:  Millennials, Their Actions Surrounding Brand and the Dynamics of Reverberation" Edelman)
  • Millennials feel personally responsible for making a difference in the world.  83% will trust a company more if it is socially/environmentally responsible, 74% are more likely to pay attention to a company's marketing when they see that the company has a deep commitment to a cause, 89% are likely or very likely to switch from one brand to the next if the company has a deep commitment to a cause. (AMP Agency)
  • Millennials are not tolerant of social media marketing. While over half liked checking out brands on social media sites (compared with just over a third of older adults), 30% thought it was annoying for brands to be on sites like Facebook and Twitter. ("American Millennials" survey, Barkley)
  • Millennials believe they deserve more attention from brands because they have a strong influence on their parents' spending.  More than half (51%) say they influence the technologies their parents adopt and 41% say they influence the products they buy. (Study by InSites Consulting and MTV).

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