Millennials and The Digital Age of Loyalty Programs

Posted by Meghan Murphy on Wed, May 24, 2017 @ 12:41 PM

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Millennials have grown up during a time of incredibly rapid changes in technology. Being born in 1993, I can remember having dial up internet in elementary school, and by middle school I had a device in my hands the size of a poptart that gave me instant access to my friends, the latest music and basically the world. Millennials have grown up with technology so much so that new changes are exciting and completely normal to us. It may seem like Millennials are checking out of real life by being on their phones constantly checking different social media platforms, but if you look closely, the true motives of a Millennial are to connect and be part of a community. 

Your loyalty program can use these characteristics of Millennial behavior to your advantage; you can show them they belong to a community with your rewards program.

As far as signing up for a loyalty program goes, Millennials don’t want to go through many steps, we want instant gratification. Asking a Millennial to fill out a form to become a member of X rewards program is far less appealing than displaying a digital platform that allows them to simply login on their phones and instantly begin earning rewards and sharing this experience with their friends. “Nearly 40% of "digital native" Millennials rely on mobile apps to track and redeem their rewards” (Excentus) We also want to feel like we are quickly reaping the benefits of a rewards program, Millennials are most incentivized to join a loyalty program based on how quickly rewards accrue (51%) and the variety of rewards available (38%) (Software Advice). This can be done in multiple ways, such as, building up points, earning awards, member specific promotions, welcome and birthday offers, and surprise offers. 

We also want to participate in a loyalty program not just hand over a card to be scanned. Fun is an important loyalty driver with 60% of Millennials (Rare). When a loyalty program crosses over into the content that Millennials tune into on their phones every day, it becomes part of their world. “Prioritize experiences over economic gains, because millennials love to try new things. And gamify everything.” (RIS)  We want to feel like the companies we choose to give our loyalty to know who we are, can keep up with our fast paced lives, and give us ways to connect and feel valued, all while having fun. That's what a loyalty program is all about, right?

 

Tecmark offers an all digital rewards program platform that can help your business gain this essential demographic of loyal customers. 

Explore the wide range of services Tecmark offers to design and operate a succssful rewards programs. 

Contact us to set up a demo today! 

 

 

 

Tags: Customers/Segments