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AutoPoint Blog

Millennials love these five companies.

Posted by Hilary Biggart Wednesday, August 10, 2016

If you read our blog last week, you already know millennials don’t always match the negative stereotypes perpetuated by the media. They are the largest, and most diverse generation in the United States today and they have a lot to offer your business if you can keep them as customers.

The key to retaining millennials is in the customer experience. Millennials choose their favorite brands based on the kind of experience those brands provide. So today, we’ll be taking a look at what some of those favorite brands are and what about them millennials love so much.

Of course, it’s easier to sell items and services under $1,000 than to sell a $30,000 vehicle. However, while the products may be different, the type of experience your customers prefer is the same. Look past the physical thing being offered to the experience behind it to understand why millennials prefer these companies.

#1 Apple

This company has gone beyond the millennial demographic to snare the largest share of the smartphone market across all ages. However, Apple appeals to millennials in particular because the brand is about more than just its products—it’s about being part of something.

Apple has done an excellent job of presenting itself as more of a lifestyle than a technology provider. You don’t just own an iPhone, you are an iPhone type of person. Apple’s success in this sphere has launched full scale rivalries between iPhones and their alternative smartphone counterparts, with Apple’s devotees showing unquestioning loyalty to the brand and whatever new tech toy it’s most recently released.

#2 Starbucks

Aside from its hip, Pacific Northwest vibe, Starbucks has gained major appeal with millennial customers through its app. Starbucks’ loyalty program and in-app purchasing power set it apart from its competition and give its customers a constant source of connection to the brand. Customers can order their drinks, pay for their orders, and even listen to the music playing in their local store—all from their smartphone.

#3 Tesla

Few millennials may be able to afford Teslas at the moment, but that doesn’t stop Tesla from being a big brand millennials love to follow. Whether it’s CEO Elon Musk’s personable presence on social media or the way Tesla prides itself on not just producing good electric cars, but producing the best cars, period, millennials connect with the brand on an idealistic level. There are many electric vehicles, but there is only one Tesla.  

#4 Warby Parker

Warby Parker was one of the first companies to give millennials a way to order glasses online, which is millennials’ preferred channel. The company appeals to its millennial consumers on two levels, the first being price. Warby Parker is significantly cheaper than its brick-and-mortar-based competitors. But Warby Parker has also recognized the importance of fashion as an incentive for its customers to wear its glasses. As such, the company has created a Warby Parker exclusive line that encourages its customers to show off on social media and identify strongly with the Warby Parker brand.

#5 Netflix

In the last couple years, Netflix has successfully become a multi-purpose verb among its millennial audience, officially marking its success as one of the first move/TV streaming services. Netflix knows its customers, millennial and otherwise. It knows what they watch, which shows they like, and how to recommend new items based on consumer preference. The streaming services has even analyzed its customers’ preferences and created its own shows based on what customers want. And they put up entire seasons of shows at once, appealing to the millennial tendency to binge watch.

All five of these companies offer common services or products, and yet all of them manage to connect with millennial consumers and keep them coming back for more. Underneath the actual thing being provided is the kind of experience the customer gains through interacting with their chosen business.

When it comes to your dealership, experience is what matters. What kind of relationship do your customers have with your business and is it the kind of engaging, connective dynamic that makes them never want to go anywhere else?

If not, don’t worry. In our next blog, we’ll tell you how to “hack” the millennial sales experience and get those customers on your lot. 

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