Cool today, gone tomorrow - Brand loyalty for Generation Y
What it is NOT…
COOL BRAND AWARDS STUDYn = 1.529 13-29 Belgian youngsters540 brands in 30 product categoriesmetrics on:• coolness DNA scores for KNOWN brands x.appeal + y.popularity+z.originality• importance of coolness per categoryNEW this year:• purchase behavior• loyalty in categories & for PURCHASED brands
They havemore & deepersocial relationshipsthan you did!
Always the same brand = loyalty? Q : For which product or service would you always choose one & the same brand? (open question) TOP 3 SECTORS TOP 3 BRANDS Telecom 17% Coca Cola 9% Drinks 16% Nokia 5% Personal Care 13% Apple 3% Fashion 12% Samsung 3%Computer materials 8% Proximus 3% “Retention is for wimps. We Food items 4% Mobistar the2% measure percent of customers who have our name Gilette Candy 4% 2% tattoed on one of their body Car 3% parts.” (Harley Davidson Annual report) Spa 2% Sport Material 2% Nike 2% Bank 2% Sony 2%
Loyal to a happy few…Q : When making a choice in each of the categories, do you always take only one brand into consideration or a range of different brands?(% „I always choose for the same brand‟ – „I only consider a few brands‟)Mobile phone operators 90% Soft Drinks 50% Banks 83% Personal Care 47% Razors/razorblades 76% Spirits 47% Mobile/Smartphones 72% Sports shops 44% Game consoles 71% Electronics shops 44% Energy drinks 70% Salty snacks 43% Coffee/Tea 65% Make-up 40% Beer 58% Sports brands 39% Hair gels 58% Jeans 36% PCs 56% Ready-made meals 33% Water 53% TV brands 32% Mints 52% Shoes 31% Touroperators 51% Fashion shops 30% Chewing gum 51% Chocolate snacks 29% Cars 50% Fashion 22% badge items
Categories where coolness is the most important… Q : How important is it to choose a cool brand in these categories? (% Top 3) Fashion 79% Personal Care 56% Fashion shops 78% Sports shops 55% Shoes 76% Electronics shops 54% PCs 75% Spirits 53% Mobile/Smartphones 74% Touroperators 52% Jeans 71% Razors/razorblades 51% Cars 70% Chewing gum 50%Mobile phone operators 67% Chocolate snacks 50% Game consoles 67% Energy drinks 47% Soft Drinks 64% Hair gels 46% Sports brands 64% Coffee/Tea 45% TV brands 63% Ready-made meals 43% Banks 61% Water 43% Make-up 58% Salty snacks 42% Beer 58% Mints 35% 6/10 & 14/20 overall coolest brands are badge items!
Relation Coolness & Brand Choice R² = 73% - 540 brands in 30 categoriesHigh Very strong correlation between being cool & getting attitudinal loyalty from youngsters !CoolnessLow Brand is not my Brand is my first first choice Loyalty choice
Coolness X Loyalty: 4 situations Fashion Very Fashion Shops Shoes important PC Mobile/Smartphones JeansImportance of COOL Cars Game consoles Mobile phone Sports brands Soft Drinks operators TV brands Banks Make-up Beer Personal Care Sports shops Electronics shops Spirits Touroperators Razors/razorblades Chocolate Snacks Chewing gum Energy drinks Hair gels Coffee/Tea Water Ready-made meals Salty snacks Mints Less important Consider many Consider only different brands Loyalty one or few brands
Fashion Fashion Shops Very Shoes PC Survival of the Coolest important Jeans Fierce competition: large setImportance of COOL Cars of acceptable brands TV brands Sports brands Soft Drinks Choice = based on price, availability & campaigns Make-up Beer that appeal Personal Care Sports shops Spirits Electronics shops Remaining your cool is a must to survive & convert less loyal to loyal brand users Less important Consider many Consider only different brands Loyalty one or few brands
Very important Cool dominates Mobile/SmartphonesImportance of COOL Loyalty is strong & coolness is important Game consoles Mobile phone But be cool at the right time! operators Banks - Understand points of entry - If you’re late... then you have to change (the rules of) the category. Less important Consider many Consider only different brands Loyalty one or few brands
Cool differentiates Very important Low ticket items: less risky to experimentImportance of COOL But there are favorite brands ! Important to create cool unordinary flavors or varieties, new impulses, be Chocolate Snacks Chewing gum fun, not boring... Hair gels Water Ready-made Salty Or push your brand UP meals snacks Mints Less important Consider many Consider only different brands Loyalty one or few brands
Very important Cool drives pester powerImportance of COOL Loyalty is strong, but coolness is relatively less important, … Lower youth involvement... (family purchases) Razors/razorblades Coolness can induce pester power or push Coffee/Tea your brand up changing products or using campaigns to increase Less appeal important Consider many Consider only different brands Loyalty one or few brands
They don‟t leave becausethere‟s a compelling reason to leave.They leave because there‟s nocompelling reason to stay
Maintaining your relationship... Q : Please indicate which brand you chose when you most recently bought / chose a … Q: Imagine you would make a choice in this category within 3, 5 or 10 years, would you choose the same brand? (% „yes‟) Uncool Brands (max. 6,5/10) Cool brands are not only purchased 2X as frequently today, after ten years they are purchased 3X compared Cool Brands (min. 7,5/10) to uncool brands ! Uncool Brands (max. 6,5/10) 92% 81% Cool Brands (min. 7,5/10) 76% 21% 19% 18% 23% 21% 19% 18% 8% 7% 83% 6% 10% 71% 66% 8%Purchase in 3 years Purchase in 5 years Purchase in 10 years 7% 6% Present Purchase Purchase in 3 years Purchase in 5 years Purchase in 10 years
Hier nog toevoegingen merk+1. Beauthentic en interesses
Allelujah1. Fickle youngsters can be sequentially monogamous if you touch their heart2. To do so coolness helps in 4 different situations & categories3. Being cool not only sells in short term but also protects in long term4. The 4 steps to earn their love are actually easy: just think of how you seduce men or women...
Or micro-summarized:LOVE & PRIDEThanks for your email@example.com