Millennials are now 20 to 37 years old. There are roughly 78.6 million people in Generation Y. Nine out of 10 expect to match or exceed their parent’s economic circumstances. And, virtually all expect to own a home. A perfect target for marketers. But how do you target this group? To even begin to understand this, you must look at Gen Y’s reasons for loyalty, different perspectives, different research methods, and reasons for purchase. Millennials are different from baby boomers and they have to be targeted as such if you expect them to purchase your product. Generation Y is so ingrained on the idea of connectedness. Think about it, social media, email, and the smartphone keeps users in contact with the world nearly anytime and everywhere. Companies can learn from this through customer service. What are you doing now that connects to Generation Y. Marketing now is all about how you make them feel. Create a relationship with your customers and you will see your business grow. The members of Generation Y are superhumanly efficient. They have learned to work, play, and do some activities on the side. They realize that they do not have to live in a city to […]
Tag: Customer Loyalty
How to Earn Customers Back After a Poor Experience
Poor customer experiences (CX) are detrimental to a company’s reputation and sales. There is hope thanks to a new customer experience survey from the SDL. This study consisted of a survey of 2,784 consumers across nine countries and three generations, asking them about their most major CX failure in the last 10 years. In the survey, 82% of customers who experienced a “worst CX” said they are interested in fixing the problem. Initial reasons for switching companies were a loss of trust in the company (44%), a poor quality of customer service (72%), and customer service representatives’ lack of knowledge (36%). This new research shows that 8 out of 10 respondents who switched stated that their previous service provider could have done something that would have kept them as a customer. After a bad CX, 64% of customers will stop recommending the organization, start looking for an alternative, or actively disparage the company via word of mouth/social media. This truly brings into play, “The good is expected but, the bad will go viral.” The study offered tips to regain the loyalty of those lost customers. The participants ranked the following actions in order of importance to the customer after a […]
