3 Ways Startups Can Build Loyalty With Millennial Customers
One of the top challenges for startups is more than just how to market their brand. It’s how to build customer loyalty, especially with millennials.
Customer loyalty is a big deal. Companies invest millions of dollars to get loyal customers -- customers who will repeatedly buy their products or services and generate more revenue and ROI to their business. Because Generation Y has an estimated purchasing power of up to $600 billion, it makes sense for you not just to attract them with your fancy products, but to build a loyal, lasting relationship with them.
Here are three ways to make that happen:
1. Be obsessed with quality.
That’s what matters.
Regardless of how sophisticated your products look or taste or how successful your marketing campaign is, if your products are substandard, your customers will neither buy them again nor stay loyal to you. Being obsessed with building quality products is about loving your millennial customers and having the passion to build products that will improve their lives.
They require quality products that work. They need quality products with great features. They want quality products that are beautifully designed. Your millennial customers desire quality products that will make them proud to use and recommend to their friends.
It doesn’t matter that they’re expensive. If your products are of superior quality, millennial customers will buy from you and stick with you for a long time.
2. Be there when your customers need you.
You have no excuse to stay silent, irresponsive or completely absent when your millennial customer needs you. You must be around and ready at all times to assist them if you want them to fall in love with your brand and stay loyal to you. One of the best ways to be accessible to your Generation Y customers is to be active on social media.
For example, my friend told me that he buys his glasses from Warby Parker because “they respond to my tweets in minutes,” he says. “They delivered my eyeglasses on time after many companies have frustrated me.”
Never underrate your customer. If you truly want to create a loyal customer base full of millennials, be there for them when they call, text, email, tweet or message you. Understand that building a business is not just about trying to sell your products. It’s about helping your customer with the information they need at the right time to solve their problems.
3. Be social.
There are a number of ways to put a human face and character on your startup and attract massive millennial prospects, clients and customers.
- Constant communication. Reach out to your millennial customer anytime to say hello or ask their opinion about your new product. Don’t just reach out to them only when you want to advertise your product. Communicate with them freely, with an open heart. Be their friend. That will build trust, engagement and loyalty.
- Reach out to them on their favorite hangout media. You need to understand their favorite hangout spots. Do they frequent Facebook, Twitter or Snapchat? Develop a social media strategy that you’ll use daily to reach out to your target market and share emotional stories that touch their hearts.
- Make them look cool. Remember that most millennials are not just buying products because they need them; they’re buying them because they believe the products will make them look good in the circle of their peers. For example, Coca-Cola’s Share-a-Coke campaign makes people feel special. By printing individual names on cans and bottles of its products, the company makes its consumers identify with the product. Be creative. Do something similar to the Share-a-Coke campaign -- in your own style.
The goal is to keep your millennial customers satisfied with what you are offering. Only when they’re satisfied will they come back to buy, become loyal to your brand, talk about it with their family and friends, and help you expand your customer base and cash flow.