Male, married and millennial: new research reveals profile of a loyal customer

Wednesday, 23 November 2016

Bank

Being male, married and a millennial are the key traits of the most engaged customers, according to global research conducted into the relationships of more than 18,000 consumers with their bank, mobile phone provider and retailer.

The study, conducted by customer engagement specialist Affinion in partnership with Oxford Brookes University, set out to understand the factors that influence a customer’s overall engagement with a brand.

It found that millennials (18 – 34 year olds) had the highest level of engagement with their bank, mobile phone provider and favourite retailer, with an overall ‘Customer Engagement Score’ ranging from 67 – 70.

This shows that this age group reported a closer emotional attachment than older people, in particular the 65+ age range which had an overall score of 61.

The fact that Brazil and Turkey consistently exceed the global metrics across all three industries, points towards the increasing presence and importance of emerging markets and their impact on global economic growth.

Janine Dermody, Professor in Marketing and Consumer Psychology, Oxford Brookes University

The ‘Customer Engagement Score’ is a mark out of 100 which was developed as a metric from the research to show how engaged a consumer is based on their responses to a series of questions about their relationship with their bank, mobile phone provider and favourite retailer.

The report showed differences between married and single people, with married respondents reporting an average engagement score of 67, compared with 64 for those who are single. When it comes to gender, male respondents reported a tighter bond with their banks (68) and mobile providers (65), while female respondents reported a stronger bond with their favourite retailers (69).

Looking at the global disparities, Turkish, Brazilian and American consumers were revealed to be the most engaged. Of the 13 countries involved in the research, these were the only ones to consistently exceed global metrics across all the industries, with an overall Customer Engagement Score of 70-72 out of 100. Scandinavian countries, Denmark, Finland and Norway, consistently reported the lowest levels of customer engagement, with scores ranging from 58-60.

Professor in Marketing & Consumer Psychology at Oxford Brookes University, Janine Dermody, commented: “The relationship between a brand and its customers is complex, involving both emotional and rational thought processes that cover everything from attitudes and experiences, to trust, satisfaction and behavioural action.

“The fact that Brazil and Turkey consistently exceed the global metrics across all three industries, points towards the increasing presence and importance of emerging markets and their impact on global economic growth.”

The Customer Engagement Model, designed by Oxford Brookes, chronicles the evolution of a customer’s relationship with a brand from first involvement to a feeling of engagement and brand loyalty.

To find out more about this research, visit Affinion’s website for further information and analysis.