For some reason, popular perception has it that millennials are particularly brand averse. In fact, the opposite is true: Millennials are more likely than any other demographic to be brand loyal. But millennials don’t choose which brands to be loyal to at random; instead, they are highly attuned to the story that a brand tells, as well as the values that the brand exhibits.

Generally, millennials choose to vote with their wallets for brands that tell inspiring stories, conduct business ethically or contribute to their personal brands. At the same time, millennials have been gravitating away from established corporate brands and toward newer companies with less name recognition. It’s become less about the logo and more about the product itself.

Instead of a brand’s cachet revolving around the ubiquity and recognizability of its logo, the focus has shifted to the values the brand itself espouses, which in turn translate to a kind of quality assurance. If a brand has shown itself to be upstanding in its business dealings, the theory goes, then its product is higher quality and more worthy of purchase by extension.

A brand can be seen to be ethical in several ways: First, by announcing their commitment to the environment and taking care to remain environmentally friendly; second, by promoting the steps they take to ensure that the workers who make their product are well paid and treated well; and third, by offering their product at a lower price point than their competition, without the upcharge that a familiar brand name would charge.

By incorporatmmunications, PR, public affairs & media relations execs some reason, popular perception has it that millennials are particularly brand averse. In fact, the opposite is true: Millennials are more likely than any other demographic to be brand loyal. But millennials don’t choose which brands to be loyal to at random; instead, they are highly attuned to the story that a brand tells, as well as the values that the brand exhibits.

Generally, millennials choose to vote with their wallets for brands that tell inspiring stories, conduct business ethically or contribute to their personal brands. At the same time, millennials have been gravitating away from established corporate brands and toward newer companies with less name recognition. It’s become less about the logo and more about the product itself.

Instead of a brand’s cachet revolving around the ubiquity and recognizability of its logo, the focus has shifted to the values the brand itself espouses, which in turn translate into a kind of quality assurance. If a brand has shown itself to be upstanding in its business dealings, the theory goes, then its product is of higher quality and more worthy of purchase by extension.

A brand can be seen to be ethical in several ways: First, by announcing their commitment to the environment and taking care to remain environmentally friendly; second, by promoting the steps they take to ensure that the workers who make their product are well paid and treated well; and third, by offering their product at a lower price point than their competition, without the upcharge that a familiar brand name would charge. By incorporating one (or all) of these principles, a brand can present itself as an organization that performs a public service, instead of a company working to make a profit.

Join our Brand Strategy for Your Business Workshop on 4 September 2018. Limited seats with a bonus of 1-hour free consultation post-workshop!

HTM: Rp 550.000 sign up or RSVP to Kei 0818-165-222.

Full article on FMB Partner.

Follow us on FMB Consultant social media pages:

LinkedIn

Facebook

Instagram

Leave a Reply

Your email address will not be published. Required fields are marked *