How Generational Loyalty Effects Customer Lifetime Value
By: Kimberly Grant
“Brand loyalty” is a hot topic these days. Most companies covet brand loyalty like a fish covets water. There is good reason for this. Brand loyalty leads to perks like reduced cost of products, reduced cost in marketing or brand awareness, and the brand is already established with a loyal customer base. It’s basically a happy marriage between brand and consumer.
Generational Awareness
Of course, brands can’t keep that happy marriage forever. A divorce occurs and brands must do what they need to do to stay relevant across generations. Just because our parents loved Levi’s jeans, doesn’t necessarily mean that we will love Levi’s jeans. Or would we?
It’s not uncommon to think that what would interest your 75-year-old grandma will not interest you. After all, we come from different eras and have different thought processes. Although, there are some brands that have endured. These brands are enjoying brand loyalty in consumers across decades and generations.
It’ll Never Get Old
An enduring industry that transcends generations is movies. Movies will also be a top form of entertainment; no matter your age. Specifically, one brand that has been consistently entertaining generations is Star Wars. The first Star Wars film made its big screen debut in 1977. It had an $11 million budget and grossed almost $461 million; according to inflation and BoxOfficeMojo.com. But this wasn’t just an ordinary action film. Star Wars was a science fiction juggernaut that spawned careers and a lucrative franchise that has endured to this day.
The Star Wars films have amassed fans from all of the current generations:
- Silent Generation
- Baby Boomers
- Generation X
- Millennials
- Generation Z
The Force is With Great Grandpa and Grandchild, Alike
All of the Star Wars films have enjoyed quite a bit of brand loyalty with high box office numbers and inspiring generations. These generations of sci-fi nerds, scientists, and general fans love the memorable fight scenes, iconic film scores, and enduring characters. The storylines, which have been told out of order since their inception, have kept fans entertained and doesn’t seem to be slowing down. In fact, the last Star Wars film is slated to be released in 2023 and the Mandalorian has become a fan favorite on the small screen. Baby Yoda is my favorite.
Un-Changing With the Times
Many brands struggle to keep up with the times and generate brand loyalty across generations. Star Wars has managed to consistently deliver quality entertainment for the masses; for decades. For the Star Wars brand, the struggle isn’t real.
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