Facebook, the venerable social media network, has released a survey of 14,700 US adults revealing that 77% of consumers surveyed still consider themselves brand loyal. The survey also reveals that marketers face unique challenges in building brand loyalty with Millennials - remember them? - with different factors driving their loyalty than older consumers.
Facebook's research reveals that 77% of adults surveyed are brand loyal. Of that group, 37% of that group exhibits emotional loyalty to their favorite brands (Facebook dubs this group "brand loyalists") while 40% make repeat purchases without demonstrating emotional loyalty (Facebook calls this group "repeat purchasers"). 174.101.137.162 This article is copyright 2016 TheWiseMarketer.com.
The survey looked at brand loyalty across five consumer sectors: auto insurance, airlines, hotels, grocery and restaurants. Other key brand loyalty findings from the Facebook survey:
- Loyalty is thriving and rooted in emotion. The survey found tht repeat purchasers and brand loyalists often have different drivers, with repeat purchasers driven by price and convenience, while brand Loyalists are drive more by the customer experience.
- Millennials exhibit unique barriers to loyalty. Contrary to many other studies, Facebook found that Millennials are just as likely as Boomers to be brand loyalists. They do, however, often exhibit different drivers of loyalty than older consumers; for example, Millennials are twice as likely to site "healthy food choices" as a driver in their restaurant loyalty.
- Income drives loyalty. Interestingly, brand loyalty increases as household income increases: consumers with household incomes of $150,000 or more are 32% more likely to be loyal than those with household incomes of under $35,000.
- Children instill loyalty. Facebook found that parents are more likely to exhibit brand loyalty than childless adults. 42% of new parents describe themselves as loyal compared to 36% of non-parents.
- Facebook and Instagram users are more loyal. In a finding conveniently useful for Facebook's own marketing efforts, the survey found that frequent Facebook and Instagram users are 1.25x more likely to be brand loyalists than infrequent users.
Read more about Facebook's findings on brand loyalty here.
