Millennials want brands to engage with them on social media and to be part of their product development team; 62% of Millennials say that if a brand engages with them on social networks, they are more likely to become a loyal customer; 43% say that Facebook is the social network that most influences their spending habits, followed by Instagram (22%) and Pinterest (12%). Brands should start, if they have not already, reaching out to Millennial consumers to assist them with development of future product or service; 42% of Millennials said they are interested in helping companies develop future products and services.
Brand loyalty is important to Millennials and is earned based on product quality, a good customer experience and support for society; 60% said that they are often or always loyal to brands that they currently purchase; 48% said that the quality of the product is the most important attribute they check for before they decide what to purchase, which is more than twice that of price (21%). When asked about what influences them to share information about a brand online, 39% said “a quality product” and 30% said “a good customer experience.”
Source:Elite Daily Survey 1,300 Millennials