From the Wise Marketer Staff
New research from Australia confirms what UK, US and other global marketers are experiencing - Millennials are more likely to ditch a brand due to a public scandal than any other age group. A recent brand loyalty survey by digital messaging company LivePerson found that Millennial Aussies are also far less likely to voice feedback to the company about their complaints. About half of 18- to 24-year-olds who are displeased with a company choose to stop shopping with the brand or not tell them at all. Only one in 10 would pick up the phone and call the company, with most taking the option of a silent protest leaving companies in the dark about their reasons to switch. These silent protests are not silent at all once the virally connected, dissatisfied consumer takes to social media where it’s a lot easier to be vocal, warn friends and even reach a wider demographic. As for the public scandal incident, the youngest cohort was also most likely to ditch a preferred brand - with one in five prepared to boycott, compared to one in 10 overall.
By contrast, LivePerson reports that a third of the oldest cohort surveyed, those 65 plus, would call with negative feedback.
Overall, young Australians are less loyal to brands with lower tolerance for poor service and quality, LivePerson regional vice president Andrew Cannington said. “The reality is, younger people have grown up in a world of improved convenience and heightened expectations but they are time-poor and once they’ve determined a brand is not worth their time, end of story.”
They also have a tech enabled, always on, networked, mobile landscape to wreak havoc on any brand who crosses them.