Millennials just want different things than previous generations did. So, if marketers are targeting millennials there is a huge opportunity to use a loyalty program to their advantage. You just have to be sure you are structuring your program in a way that speaks to your millennial audience.
Here are some best practices if you are targeting millennials with your loyalty program.
- Two Way Communication
That old style of marketing just isn’t as effective on millennials. They like to have conversations with brands, they need to communicate with them, not make an action, a sale, and then it’s over. They want to mention both positive and negative things they like feedback and reviews, and of course they like to feel taken into consideration
- Social Media
As we all know, Millennials are well connected and have social media as part of their daily lives. Millennials love to share and consume information via social media. They love to share, see what others share etc. So, marketers should see a great opportunity here, use social media as a tool to gain brand loyalty. Promote the loyalty program, encourage consumers to do the same.
Tip: Marketers should add social sharing as a rewarded action in the loyalty programs.
- Speed is their key
Millennials have access to the internet for the majority of their lives. They have grown up with quick access to information and expect everything to move quickly. Speed is their key. So, they have little tolerance, they don’t invest in unnecessary things. They are not lazy as the majority believes, they just expect things to be done in a different, faster and easier way. So, marketers should keep visual in mind when designing loyalty programs. This is especially important when explaining the details of your loyalty program.
- Status, they love status
Most people view a loyalty program as a program where you collect points for a discount. This is a very narrow minded view of loyalty programs. Millennials seek status throughout the rewards and loyalty programs. In order to attract them marketers should incorporate status rewards wherever it is possible.
- Brands to Reflect Their Personality
Millennials want the brands they choose to reflect their personality and their loyalty program is considered part of the brand image. This is again key for marketers, if they are looking for strong adoption by millennials, then the program should be a good representation of the brand and the personality it tries to represent. Millennials will be much more likely to join a program if the program matches the personality they wish to portray.
So summing up, Millennials are brand-loyal. In fact, they consider themselves to be more loyal than their parents, more informed about brands, and in a better position to make what they consider smarter brand choices. Due to the easy access to a huge amount of information, they are highly informed about everything regarding the product or service from price, to quality and even its business practices.
The loyalty of Millennials isn’t an ambiguous thing. However, it’s something marketers will have to work hard to earn and even harder to keep. But with some willingness to try new things, the ability to remain flexible and most importantly, meet Millennials on their terms, the future of loyalty program is going to be successful.