'Brand destroyers' aren't winning millennial consumers
Millennials also have low levels of customer engagement across most industries that Gallup tracks. In the banking industry, for example, 31% of millennial customers are fully engaged. In hospitality, the figure is 20%.
Even more discouraging, millennial customers are also much more likely to be actively disengaged than any other generation of consumers. In some industries, millennials' level of active disengagement is nearly on par with - or exceeds - their level of engagement.
In the insurance industry, 31% of millennial customers are fully engaged, and 27% are actively disengaged. In the airline industry, just 12% of millennials are fully engaged, while almost four times as many (46%) are actively disengaged.
Instead of creating advocates and "brand ambassadors" among millennials, many companies are creating brand destroyers who have a host of digital soapboxes from which to air their grievances.
Millennials are highly connected with vast social networks and have their pick of open forums for sharing their dissatisfaction with a product, service or company.
When millennials are fully engaged as customers, they're more profitable and loyal than are other customers.
In the wireless service industry, Gallup discovered that 95% of fully engaged millennial customers say they plan to stay with their wireless provider, compared with 10% of actively disengaged millennial customers. ■