Lowest Boomer Brand Loyalty - Products
1. Televisions - 22%
2. Computers - 24%
3. Apparel - 27%
4. Home Appliances - 30%
5. Prepared Foods - 36%
Highest Boomer Brand Loyalty - Services
1. Auto Insurance - 72%
2. Home Insurance - 72%
3. Medical Insurance - 67%
4. Life Insurance - 65%
5. Banks - 63%
The director of marketing at Focalyst.com Heather Stern explains the results as boomers being “more loyal when companies give customized service, a natural reflection of Boomers’ desire for personalized attention and rewarding brand
experiences. And they are willing to pay more for value if a product or service demonstrates the ability to help make their complicated and stressful lives easier." So by this logic if electronics, clothing and appliance companies were more personalized they would capture the loyalty of boomers? Why do you think Baby Boomers are more loyal to financial brads than most others?
Boomers aren't much different than other groups in this regard, in my opinion. Selling insurance is one of those types of things that really benefits from the personal touch. And yes, if the companies selling clothing, electronics, and other items could come up with a way to personalize and customize their services... and their interactions with customers... they would probably see similar brand loyalty.
Jerry
www.leads4insurance.com
Posted by: Jerry | May 17, 2007 10:12 PM | Permalink to Comment