What It Takes to Retain Young Clients
The latest trends dictate the brands and services younger clients are attracted to. New startups can quickly capture the young client base a previous competitor might have held for years.
Generation Z (born between 1996 to 2012) has the tendency to bounce between businesses depending on their interests. However, they do have a strong sense of brand loyalty to those who have earned their patronage. Client retention becomes easier the longer a brand can build a relationship with its customers, but creating this client base has several components.
Attraction and Retention
Attraction is the first step in retaining clients. If your brand does not constantly evolve its business, clients will lose interest in your services. The nature of Gen Z makes client retention more difficult.
Some key factors that would attract younger clients to a business include:
- Alignment of Beliefs and Interests
- Personalization or Broader Options
- Accessibility of Services
Alignment of Beliefs and Interests
Retention is only achievable if businesses stay current with this generation’s interests and beliefs. With younger audiences having constant updates and connections to issues around the world, businesses’ reactions to young clients’ causes matters. Rather than making empty promises, brands must actively support this generation’s social concerns.
Younger demographics value authenticity and careless activism attempts prove futile. Studies show
that Gen Z’s views on social, environmental, and political stances differ significantly than those of the older generations. Some stances that often appeal to younger audiences are:
- Cruelty-free goods
- Eco-friendly materials and business practices
- Inclusivity in products and advertisements
Keeping these views in mind when marketing products and services will show the younger audience that you care about their interests. Validating their identities will allow you to build trust and a sense of community with your clientele.
Personalization or Broader Options
While younger generations seem to rally around a new trend, individualism is still a strong ideal that many young potential clients hold.
This translates into the products and services they’re looking to buy. Young clients are constantly curating their daily experiences, both digitally and in person. Many of them aren’t interested in products or services that don’t meet their needs or interests. Retaining this audience means tailoring a variety of services to their needs, making you indispensable in their eyes.
Personalization can vary between marketing and the products and services offered. With marketing, targeted ads featured on social media sites follow user data to find the best audience. With products or services, subscription services offer varying price points to best fit a client’s needs. Subscription options can be found in a variety of services
- Software—Adobe Creative Cloud, Microsoft Office
- E-commerce—Subscription boxes, Meal Kits
- Streaming Entertainment—Netflix, Spotify
Accessibility of Services
The younger demographic needs to be able to access services on demand. An online presence is a must-have in today’s age, especially on social media. Many younger clients seek peer approval in their social spheres before deciding to work with a business. A well-built website and often an app is also required for young client interaction.
Clients with disabilities may need modified accommodations for access to your services. Offering the following services ensures accessibility for all clients:
- Making services available digitally
- Having both text and audio-based services digitally and physically. Make digital content screen-reader friendly and include transcripts of any audio
- Providing wheelchair and walker accessibility in physical locations
Younger audiences prefer genuine interactions with the businesses they work with. The more personable those interactions are, the stronger the connection with young clients will be.
Businesses that provide compassionate customer service will allow clients to feel like part of a community. Providing access to digital and in-person support will enable young clients to have their questions answered on demand. These customer interactions allow young clients to feel valued, making them more likely to stay with a business that honors that connection.
Other methods that can promote your business value to these clients are loyalty programs. By definition, these promote retention, accessibility, and interactions from clientele. Younger customers also appreciate the chance to receive rewards or discounts, especially from products and services they already enjoy using.
Companies that excel in reaching out to their young client base by understanding what they want will do the best to retain these customers for future business. Offering accessible, inclusive, and personalized services for younger clients will show them that their needs and interests matter to your company. Fostering this connection and showing that you care about your young clients is the biggest factor in their retention.
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helps bank and finance executives make smarter marketing decisions by identifying marketing gaps, creating custom strategies to fill in those gaps, and making the most of their resources. By guiding companies to change their approach to marketing decisions, Archera implements a design-thinking, data-driven strategy based on current psychology research and technology behaviors.
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