3 Reasons Samsung is the Most Trusted Company Among Millennials
A recent poll by the Reputation Institute (RI) revealed that Samsung is the number 1 most trusted company among millennials in the United States. Considering that millenials consist of over 75 million people between the ages of 18 and 34, this is great news for Samsung. According to the results of this year’s RI millennial survey, when millenials decide a company is worthy of their trust and respect, they are more willing to work for, recommend and buy products from a firm they find reputable. What is Samsung doing so well that makes it the most trusted company among the largest growing generation in the world?
RI attributes Samsung’s ability to successfully gain the millenials’ trust and attention to three things: self-promotion on social media, commitment to social responsibility and creating an inclusive culture.
1.) Social Media Promotion and Campaigns
Social media is arguably the most important tool for a company to gain the trust of millenials. Over 90% of adults aged 18 to 29 use social media—and that number is growing rapidly.[1] The average millennial checks his or her smart phone 43 times a day.[2] Understanding these facts, it’s critical to establish a strong social media presence if a company or brand is looking to engage with millenials.
In today’s world, not having a social media presence is essentially not having any presence at all. Through self-promotion on social media, Samsung has established themselves as a familiar, trustworthy firm to millenials. This earned trust has provided Samsung the leverage to be the most favored company among millenials.
2.) Commitment to Social Responsibility
A poll commissioned by the Clinton Global Initiative and Microsoft revealed that millenials are more focused on the environment than their parent’s generation—a wide margin of 76% compared to a meager 24%.[3] In other words, millenials value environmental sustainability and appreciate efforts to make the world a better place.
Samsung’s commitment to social responsibility is a huge factor in winning over millenials. Their transparency about their sustainability efforts and green initiatives are displayed openly on their website and on social media. For example, here is one of their statistics that exemplifies their effort to improve the environment: “In 2010, we will have reduced greenhouse gas emissions from our operations by 45% from 2001 levels.”
Samsung’s transparency reports and efforts to improve the environment resonate with people—and millenials—on an emotional level. This openness humanizes them as a company. Instead of being viewed as a large, corporate tech giant, they’ve effectively communicated that they are a “company who believes it’s our responsibility to do business in a way that enriches the planet.”
3.) Creating an Inclusive Culture
In today’s world, everyone wants to be heard. The rapid rise and prevalence of social media has created an environment where companies cannot afford to neglect their employees and customers. Having an inclusive culture is an essential part of Samsung’s strategy moving forward.
Samsung made headlines last month as they announced their “aim to reform our internal culture, execute as quickly as a startup company and push towards open communication and continuously innovate.”[4] Samsung executives will be signing a pledge to create a working atmosphere that fosters open dialogue. By adopting an inclusive culture, Samsung is yet again moving in the right direction in terms of understanding what millenials want. Through social media, millenials grew up with having a voice at a young age. Shifting to an atmosphere that embraces communication, Samsung is creating an environment both conducive and attractive to the largest growing generation in the world.
Embrace the strategies that have made Samsung the most trusted company among millenials and see what happens. Through social media, commitment to the environment and fostering an inclusive culture, you too can gain the trust of millenials.
[1] Pick, Tom. “47 Superb Social Media Marketing Stats and Facts.” Business 2 Community 47 Superb Social Media Marketing Stats and Facts Comments. N.p., n.d. Web. 14 June 2016.
[2] Clifford, Catherine. “Millennials Check Their Phones 43 Times a Day. This Is What They’re Looking For. (Infographic).” Entrepreneur. N.p., 04 June 2014. Web. 14 June 2016.
[3]Timm, Jance C. “Millenials: We Care About the Environment.” MSNBC. N.p., n.d. Web.
[4] Lee, Se Young. “World’s Biggest Startup? Samsung Electronics to Reform Corporate Culture.” Reuters. Thomson Reuters, 24 Mar. 2016. Web. 14 June 2016.
