The following article was written by a guest blogger, Corey Savage. In the article, Corey provides simple tools that organizations can use to create a strong Millennial loyalty program. I hope you enjoy it!

-Amelie 

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Loyalty programs are very popular with millennial consumers. The notion of receiving rewards and creating value by remaining loyal to a brand is one with a lot of attraction. However, getting the most out of these shoppers means fine-tuning the formula to engage with their unique characteristics. To reach millennials, businesses must design loyalty programs that appeal specifically to the group. Here are some tips to accomplish that.

 

Include a User-Generated Content Component

Allowing customers to share content on social media and connecting this action to a points system encourages them to earn rewards while spreading awareness of your brand online.

 

Enable Two-Way Communication

Marketing is no longer a one-way street. You must be open to feedback from your loyalty program’s members and make it easy for them to share it. Include a link or a comment section in your emails or on your app.

 

Emphasize Visual Information

Because millennials process information much faster than previous generations, they want you to cut right to the point. Do that by using visuals as much as possible. Use high-quality photos of your products whenever you can.

 

Personality Matters

The younger generation likes to define itself through the brands it uses. That means the image your brand projects is a huge part of attracting millennials. Make sure your reward program reflects the identity that makes you a favorite among your customers.

 

Base Your Rewards on Status

Structuring your rewards in tiers plays into millennials’ love of games and achievements. When they can “level up” the same way they can in a video game, they’ll be more motivated to participate.

 

Explain It Clearly

Because millennials have so many choices, they won’t have the patience for a program that doesn’t make sense to them. Include an explainer page where the details of your system are laid out clearly for all to understand.

 

Take Advantage of Social Media

Millennials spend a lot of time checking Facebook, Twitter and Instagram feeds, so be sure you have a presence there. Offer a reward for following your brand on these platforms and you’ll benefit from increased exposure.

 

Use Experiences as Incentives

Discounts are appreciated, but today’s young people aren’t motivated entirely by money. Offering rewards that take the form of experiences such as games or downloadable content engages with them on another level.

 

Make It Easy to Participate

Offering millennial customers convenience is a key way to engage them. For example, a key ring tag they can scan at the point of sale to activate their reward will make it simpler to be involved.

 

Partner With a Charitable Cause

Members of this generation are more community-minded, and they seek ways to make a positive impact on the world around them. Harness that impulse by partnering with nonprofits or charities, perhaps by tying incentives to contributions.

 

 

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Author Bio

Corey Savage is Director of Operations for Suncoast Identification Solutions, a leader in plastic card printing and manufacturing. Savage has seven years of experience in the industry and focuses on designing menus to lead to the most profitable items.

 

Plato wrote in Republic that necessity is the mother of all invention. Society finds ways to adapt as new needs and problems requiring novel solutions arise. This could apply not just to physical inventions but also to the labor market. The global social and economic flux throughout the decades define how each generation approaches work, and as a result, various industries have come up to meet the changing labor landscape. An example of this change is the increasing number of working Millennials and what makes them different. The “invention” that will help you serve this booming population? Intergenerational consulting. 

The rise of Millennials in the workforce opened a gap that needs to be bridged. Investing in intergenerational consulting means getting the tools and insight you need for the task at hand. As we dive headfirst into what this type of consulting is, let’s take a look at how each generation was shaped by the social, political, and economic forces surrounding them. Then we can gain a better understanding of how different Millennials are from generations past.

The Silent Generation (ages 72-89)

This generation was born between 1925-1942 and, according to Forbes, makes up about 20 million U.S. adults in their 70s and 80s. This Time magazine essay dubbed them the Silent Generation, a cohort that grew up in the time of war. They were considered silent because of their avoidance of protests. Economically, they are considered the wealthiest– well-educated and pensioned homeowners with hefty retirement funds that were sold out before the 2008 housing crash. 

Baby Boomers (53-71)

If the last of the Silent Generation turned 65 before 2007, Baby Boomers turned 65 in 2011. This cohort was born post-World War II. There were 3.4 million babies born in 1946 compared to the 2.5 million average birth rate in previous years–hence the term Baby Boomers. This generation had quite the tumultuous economic, political, and social experiences–the moon landing of 1969, Vietnam War, Civil Rights Movement, Watergate, and more. Between Millennials and Boomers, the latter are more conservative in terms of home ownership, views on family, and stance on social issues. 

Generation X (37-52)

After the Boomers came Generation X, or Gen X for short. Gen Xers were born between the mid-60s and early-80s. There are about 50 million members of the Gen X cohort. They are the “the last analog generation” but also the first Internet and tech generation. According to Investopedia, about 68% of Fortune 500 CEOs come from this group. However, Gen Xers are not as financially stable as the Silent Generation especially in light of the Great Recession. A Vanity Fair article interestingly describes Gen X as “ cynical, wised up, sane,” and as a kind of “market corrective” to the generation that preceded them. Gen Xers have a different philosophy compared to the Boomers–they were activists and socially liberal. Some famous Gen Xers include Jeff Bezos, Michelle Obama, Jay-Z, Tiger Woods, and Elon Musk.

Millennials (20-36)

After our tour of the different generations starting from those born in 1925, we have at last arrived at the Millennials or Generation Y. This generation was born between 1981 to 1996. Millennials in 2018 were between the ages of 22 and 37. Compared to the Silent Generation and the Baby Boomers, Millennials are less slower to get married and own homes. This cohort is the most racially diverse and better educated but are not necessarily the most stable economically.

It is interesting to note how a lot of women from previous generations were not part of the labor force. Today, Millennial women make up 72% of the workforce according to Pew Research. But while that is the case, Millennials have inherited the after effects of the Great Recession making the job market more challenging. This is why a Millennial can be educated and still have a hard time entering the workforce–and these factors affect all of their lifestyle choices such as delaying starting a family.

Get Intergenerational Consulting For Your Business

There is so much more that we can unpack about each generation, but we can safely conclude that there are some major differences all of the groups we’ve covered here. But in spite of these differences, we can create shared experiences and help build those gaps. This is where the value of intergenerational consulting shines through–we can work together to uncover where your business or organization is at in terms of the population it employs and serves. How can you bring Millennials into the fold? What can they learn from you and your experiences? 

Let’s ask these questions together, bridge that gap, and create an environment where everyone thrives no matter which generation you’re from. Contact me to learn more about intergenerational consulting and how it can help you.