Cool today, gone tomorrow - Brand loyalty for Generation Y
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The link between cool brands and brand loyalty of Generation Y (Millennials). What is driving their loyalty and how can coolness play a role in making this fickle generation more loyal to your brands.
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Cool today, gone tomorrow - Brand loyalty for Generation Y
- 3. What it is NOT…
- 4. COOL BRAND AWARDS STUDY n = 1.529 13-29 Belgian youngsters 540 brands in 30 product categories metrics on: • coolness DNA scores for KNOWN brands x.appeal + y.popularity+z.originality • importance of coolness per category NEW this year: • purchase behavior • loyalty in categories & for PURCHASED brands
- 7. They have more & deeper social relationships than you did!
- 8. Always the same brand = loyalty? Q : For which product or service would you always choose one & the same brand? (open question) TOP 3 SECTORS TOP 3 BRANDS Telecom 17% Coca Cola 9% Drinks 16% Nokia 5% Personal Care 13% Apple 3% Fashion 12% Samsung 3% Computer materials 8% Proximus 3% “Retention is for wimps. We Food items 4% Mobistar the2% measure percent of customers who have our name Gilette Candy 4% 2% tattoed on one of their body Car 3% parts.” (Harley Davidson Annual report) Spa 2% Sport Material 2% Nike 2% Bank 2% Sony 2%
- 10. Loyal to a happy few… Q : When making a choice in each of the categories, do you always take only one brand into consideration or a range of different brands? (% „I always choose for the same brand‟ – „I only consider a few brands‟) Mobile phone operators 90% Soft Drinks 50% Banks 83% Personal Care 47% Razors/razorblades 76% Spirits 47% Mobile/Smartphones 72% Sports shops 44% Game consoles 71% Electronics shops 44% Energy drinks 70% Salty snacks 43% Coffee/Tea 65% Make-up 40% Beer 58% Sports brands 39% Hair gels 58% Jeans 36% PCs 56% Ready-made meals 33% Water 53% TV brands 32% Mints 52% Shoes 31% Touroperators 51% Fashion shops 30% Chewing gum 51% Chocolate snacks 29% Cars 50% Fashion 22% badge items
- 11. A youth paradox?
- 12. Categories where coolness is the most important… Q : How important is it to choose a cool brand in these categories? (% Top 3) Fashion 79% Personal Care 56% Fashion shops 78% Sports shops 55% Shoes 76% Electronics shops 54% PCs 75% Spirits 53% Mobile/Smartphones 74% Touroperators 52% Jeans 71% Razors/razorblades 51% Cars 70% Chewing gum 50% Mobile phone operators 67% Chocolate snacks 50% Game consoles 67% Energy drinks 47% Soft Drinks 64% Hair gels 46% Sports brands 64% Coffee/Tea 45% TV brands 63% Ready-made meals 43% Banks 61% Water 43% Make-up 58% Salty snacks 42% Beer 58% Mints 35% 6/10 & 14/20 overall coolest brands are badge items!
- 13. Relation Coolness & Brand Choice R² = 73% - 540 brands in 30 categories High Very strong correlation between being cool & getting attitudinal loyalty from youngsters ! Coolness Low Brand is not my Brand is my first first choice Loyalty choice
- 14. Coolness X Loyalty: 4 situations Fashion Very Fashion Shops Shoes important PC Mobile/Smartphones Jeans Importance of COOL Cars Game consoles Mobile phone Sports brands Soft Drinks operators TV brands Banks Make-up Beer Personal Care Sports shops Electronics shops Spirits Touroperators Razors/razorblades Chocolate Snacks Chewing gum Energy drinks Hair gels Coffee/Tea Water Ready-made meals Salty snacks Mints Less important Consider many Consider only different brands Loyalty one or few brands
- 15. Fashion Fashion Shops Very Shoes PC Survival of the Coolest important Jeans Fierce competition: large set Importance of COOL Cars of acceptable brands TV brands Sports brands Soft Drinks Choice = based on price, availability & campaigns Make-up Beer that appeal Personal Care Sports shops Spirits Electronics shops Remaining your cool is a must to survive & convert less loyal to loyal brand users Less important Consider many Consider only different brands Loyalty one or few brands
- 18. Very important Cool dominates Mobile/Smartphones Importance of COOL Loyalty is strong & coolness is important Game consoles Mobile phone But be cool at the right time! operators Banks - Understand points of entry - If you’re late... then you have to change (the rules of) the category. Less important Consider many Consider only different brands Loyalty one or few brands
- 21. Cool differentiates Very important Low ticket items: less risky to experiment Importance of COOL But there are favorite brands ! Important to create cool unordinary flavors or varieties, new impulses, be Chocolate Snacks Chewing gum fun, not boring... Hair gels Water Ready-made Salty Or push your brand UP meals snacks Mints Less important Consider many Consider only different brands Loyalty one or few brands
- 25. Very important Cool drives pester power Importance of COOL Loyalty is strong, but coolness is relatively less important, … Lower youth involvement... (family purchases) Razors/razorblades Coolness can induce pester power or push Coffee/Tea your brand up changing products or using campaigns to increase Less appeal important Consider many Consider only different brands Loyalty one or few brands
- 28. They don‟t leave because there‟s a compelling reason to leave. They leave because there‟s no compelling reason to stay
- 29. The way to their hearts in 3+1 steps
- 31. 2. I‟m like You, You are like me
- 32. Youth Mapping InSites & MTV Networks Social explorer CHANGE 25% Show-off’s 13% DRINK THINK Model Mainstream 32% Idealists 23% : CONSERVATISM Homebodies 8% WE ME (I’m better)
- 33. Youth Mapping InSites & MTV Networks EXTRA VERT Social explorer drum’n bass – 25% breezersletjes elektro & players rappers & R&Bers Show-off‟s new rave – 80s skaters 13% tektonic rockers show grieten & fashion boys Model Mainstream 32% punk Idealists 23% jumpers hippies emo seutjes : nerds gothic gabbers Homebodies INTRO 8% VERT WE ME (I’m better) kids, youth & trend insights
- 40. Do they want to hang out with your brand?
- 42. Maintaining your relationship... Q : Please indicate which brand you chose when you most recently bought / chose a … Q: Imagine you would make a choice in this category within 3, 5 or 10 years, would you choose the same brand? (% „yes‟) Uncool Brands (max. 6,5/10) Cool brands are not only purchased 2X as frequently today, after ten years they are purchased 3X compared Cool Brands (min. 7,5/10) to uncool brands ! Uncool Brands (max. 6,5/10) 92% 81% Cool Brands (min. 7,5/10) 76% 21% 19% 18% 23% 21% 19% 18% 8% 7% 83% 6% 10% 71% 66% 8% Purchase in 3 years Purchase in 5 years Purchase in 10 years 7% 6% Present Purchase Purchase in 3 years Purchase in 5 years Purchase in 10 years
- 43. Hier nog toevoegingen merk +1. Be authentic en interesses
- 44. Literal video
- 45. 4 things you should know by heart
- 46. Allelujah 1. Fickle youngsters can be sequentially monogamous if you touch their heart 2. To do so coolness helps in 4 different situations & categories 3. Being cool not only sells in short term but also protects in long term 4. The 4 steps to earn their love are actually easy: just think of how you seduce men or women...
- 47. Or micro-summarized: LOVE & PRIDE Thanks for your interest joeri@insites.be