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According to a study done by Edelman Digital in February 2011, this generation has an incredibly high level of brand loyalty. Specifically:
- 70% of Millennials feel that once they find a company or product they like, they will keep coming back
- 58% are willing to share more personal information with trusted brands
- 86% will share their brand preference online
- Nearly 20% of Millennials attended a brand-sponsored event in the last 30 days
- Of those who attended, 65% purchased the featured product
Beyond their growing influence as consumers, they are also assuming the role of self-ordained experts. Forty-seven percent of Millennials write about their positive experiences with companies and products online (on blogs and social media sites). On the flip side, 39% share negative experiences with their social networks as well.
The point is that no brand can afford to disregard the Millennial generation. They have money, they’re influential and they’re making decisions. The technology that is part of their DNA and their social network—even when they’re sleeping—is always within arm’s reach!