Millennials (Can Be) a Brand’s Best Friend
Generation Y, aka “Buy”, packs a powerful punch when it comes to a brand’s online reputation. The most prolific users of social media do not take that responsibility lightly, and will just as soon share a recommendation for a product they believe in as they will publicly lambast one they consider unworthy.
Such loyalty, as much to the process of sharing opinions about brands as to any particular brands, was the most profound takeaway from a recent study conducted by Edelman Worldwide. Entitled Millennials, Their Actions Surrounding Brands, and the Dynamics of Reverberation, the exhaustive study makes one thing abundantly clear about its focus group: brands matter.
Some of the more specific findings include the following:
• More than 80 percent of Millennials regularly discuss brands online
• 70 percent will share a favorite brand with friends and family
• 70 percent will keep coming back to a brand they like
• 58 percent are willing to share personal information with a trusted brand in exchange for coupons, etc.
• 54 percent will warn friends and family about a brand they don’t trust
• 41 percent will boycott a brand if disappointed
• 32 percent will rant on a social network if disappointed by a brand
• 29 percent will join a community of others who dislike a brand