Decisions, Decisions: A Case Study in Millennial Brand Loyalty
I am a Millennial and I am unapologetically cheap.
Now, I will shell out the big bucks for something I really need or value. After all, I am an Apple consumer… but when it comes down to loyalty, I’m skittish. Money is tight. My professional future is uncertain. I’m not necessarily going to pay for something just because it’s convenient or it has a slick marketing campaign.
I tend to avoid big commitments unless I can test the product out first. What do my friends and family think about the product? I want someone to give me all the facts and to be honest about the product before I even consider opening my wallet.
I know a lot of people who pay money for applications on their phones. I’m not one of those people; I only download free applications to my HTC MyTouch 4G Slide. To me, paying for an application on a phone is ridiculous and definitely not a necessity. For the most part, if there is a really cool app out on the market that I want – and it costs $4.99 – I can almost always find a free version of the app somewhere in the Play Store. Some of the free apps I have on my phone are: doubleTwist, Draw Something Free, Mint.com and MyFitnessPal – all apps I use on a daily basis.
A few months ago, I walked in on one of my friends watching re-runs of “The Wonder Years”. As a fan of this show growing up, I freaked out and quickly found out he was using a free trial from Netflix. So I went home, researched the offer online and downloaded Netflix to my Wii. I enjoyed watching re-runs for a solid month, but when it came time to pay up ($7.99 per month) I balked. My decision making process goes a little something like this…
- Interest in Netflix because friends / family highly recommend it.
- What does this service cost? Sweet! Netflix offers a free, unfettered one-month trial.
- Trial period. Watched tons of “The Wonder Years” re-runs.
- Do I really need this service? I’m already paying for cable, so no, this product is not a necessity for me.
- Reconsideration period. What is my satisfaction level with cable television? What are the true costs / benefits?
So, I’m not a Netflix customer yet – but the experience was positive enough to cause me to question the value I attach to cable.
I am currently locked in a yearlong service agreement and I just can’t justify paying an additional $8 for re-runs.
But as prices on cable television rise, I am leaning towards other entertainment outlets that are less expensive and more convenient, regardless of the fact that they might not have everything I want. I grew up with cable television but the service is flawed. They have my business thanks to contracts, bundles and sunk costs – but they won’t have it forever.
Article by: Emmy Casey, VPM Imagineer | firstname.lastname@example.org