What millennials look for in a loyalty program

If millennials are your target audience, then the first thing to consider is whether you should cater your loyalty program to that specific demographic?

If the majority of your customers are millennials or generation y, then you should be tailoring your ecommerce loyalty program to suit their needs.

This blog post will talk through the different ways you can cater your program to suit the needs of your millennial customers by using:

  • Speed
  • Cross-platform programs
  • Social media, and
  • Visuals

A survey revealed that 37% of millennials prefer discounts as their chosen choice of reward. 30% prefer receiving points for $ spent and 20% preferred points for the number of visits respectively.

Discounts can come in any form, you could attach them to specific items, such as 50% off any second order, or 30% off your entire order, today only.

Millennials are impressed by speed

Millennials are usually quick paced and so your loyalty program should reflect that. This means your loyalty program should allow your customers to reap the benefits quickly.

Lengthening the time it takes for your millennials to get their rewards, means they lose interest and engagement falls.

Cross-platform

Make the loyalty program cross-platform. Millennials use their phones more than most.  Ensuring your online loyalty program has a mobile aspect too is imperative for keeping your customers on board.

Keep your loyalty app simple to avoid confusing your customers, but at the same time provide enough information. Allow your program members to see how many points they have, and see how close they are to achieving their next reward.

Your loyalty program should be an opportunity to communicate with your customers. A research study said almost 70% of 20-34 year old’s would be up for changing where they buy things from if there is a better rewards system.

If your loyalty program isn’t up to scratch, millennials are likely to reach out and tell you. Not all communication will be negative, however. Both conversations should not be ignored.

Social media is crucial for millennials

If something is going well, continue to do it.  If multiple people are complaining about an aspect of your loyalty program then change it. They normally use social media to do this. Millennials use social so use it too, to solicit feedback before they give it to you.

Social media is a hub for millennials and it’s the core place they share news and important information.

A loyalty program is only valuable to you if people know about it. The best way to spread news about your loyalty program is to use social channels.

Encourage your customers to also spread news about your loyalty program to widen your reach.

Keep your loyalty program as visual as possible

The internet is a big place and they’re the type of people who want to explore it all.

Therefore, make your loyalty program as visual as you can. Use recognizable icons, and be careful when designing your loyalty program. Be sure your loyalty program is visual and doesn’t contain too much text.

 

As many as 3 out of 4 companies are launching and using loyalty programs, and for many, millennials are a crucial selling group for them. If your target potential customers are also millennials, then be sure you’re tailoring your loyalty and rewards program to suit their needs and preferences.

 

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