Do millennials trust your brand?
We recently conducted a survey with 180 millennials from across Europe and asked their opinions on brand trust. According to WDD, millennials are spending more money in store and online than any other generation. With the recent development of covid19 that has focused more on online spending. Their purchasing power is projected to reach $1.4 trillion by the end of 2020. This makes millennials a great consumer for any brand, but we found that they won’t buy from you unless they trust your business.
They don’t just want to buy products; it is shown that millennials are more conscious of who they are buying form and want to buy from brands that align with their values.
Reviews have been outlined as the most trustworthy source about a company and a product with 89% of respondents agreeing that they check online reviews before buying a product or service. The opinion of the generation is that they value their peer's opinions and reviews more than any content the company creates.
This also correlates with their views on ads with 65% of the audience answering that they find ads untrustworthy.
What can you do to establish trust with your millennial customer?
Our research has shown millennials want clarity, transparency, strong purpose and higher ambition from a company. Along with that your digital brand needs to establish trust. Our survey highlighted the importance of a company site and the fact that your website needs to be secure with only 28% of respondents not checking if a site is https. The responses also highlighted the importance of showing in Google, having a Google business page, company social media, independent review sites and having your products on reseller sites such as Amazon and eBay.
Although we mention a high number of our respondents find ads untrustworthy that doesn’t mean you give up advertising but ensure your audience trusts you before you bombard them with ads.
Their opinion on security, tracking and personalisation may interest you.
Want to know more?
Do you have any questions? Would you like to see some specific research? Get in touch today.