How To Structure Loyalty Programs For Millennials
Across all generations, perhaps no group of people has been as scrutinized by marketers as millennials. A quick Google search yields tons of articles about how this generation has fundamentally changed specific industries with their unconventional behavior and buying trends. Social media memes poke fun at how millennials think and act, casting them as if they were an alien species from another planet. Do we not realize that it is normal humans who comprise the millennial generation? They may have some unique quirks that they don’t share with their parents or grandparents, but they will and do respond to many of the same motivators.
For example, loyalty programs are very popular with millennials. The idea of earning rewards and creating value by remaining loyal to a brand is one with a lot of appeal. However, getting the most out of these consumers means adjusting the formula to engage with their unique characteristics. Rather than simply offering a “buy one, get one free” approach, brands must tap into what motivates these young people. Appealing to their sense of community and belonging by partnering with a charitable organization is one example.
To create brand loyalty with millennials, businesses must design programs that appeal specifically to the group. Here are some tips to accomplish that.