If you’re struggling to create customer loyalty with millennials you’re not alone. According to a survey by Accenture 40% of retail industry leaders said their number one concern with millennials is their lack of loyalty. But with a properly executed loyalty schemes and a brand strategy to match, millennials are the most brand-loyal group there is.
So, how can you advocate loyalty with the most ad-saturated demographic out there?
1. Invest in a digital loyalty scheme
According to our research with YouGov, 59% of older millennials (25-34 year-olds) stated that it was important for a loyalty scheme to offer a digital option. Our research showed that 41% of 18-24 year- olds (and 40% of 25-34 year-olds), wanted to be able to monitor their points with a digital wallet and 41% want to be able to redeem them using a smartphone.
The desire for mobile and digital schemes is obvious, and will only grow as millennial spending patterns become the norm and Generation Z comes of age. Retailers need to embrace digital to future-proof loyalty programs so they can deliver both what the consumer wants and the data marketer needs.
Digitising a loyalty scheme or creating a digital loyalty scheme from scratch is easy with Eagle Eye Reward.
2. Get up-close and personal
Receiving excessive generic communication from retailers was the most common reason (24%) for 18-24 year-olds quitting loyalty schemes, says Eagle Eye research. At the same time 75% of millennials are willing to share personal information in exchange for a personalised experience according to CrowdTwist.
Millennials expect (and get) personalised experiences. With digital promotions software you can harvest customer purchase data in real-time to CRM systems, then analyse consumer activity to personalise promotions to individual customers.
3. Connect promotions and customer data
When it comes to cross-channel promotions, Eagle Eye research points out that 25–34-year-olds are the most discerning in spotting inconsistencies. 67% said they had spotted discrepancies between online and offline promotions, more than any other age category.
With a Single Customer View you can track the customer journey across online and offline touchpoints and tailor messaging accordingly. Find out more about how to achieve a consistent cross-channel customer experience strategy.
4. Send the right message at the right time
According to our latest whitepaper 82% of older millennials are interested in receiving retailer promotions to their phones while in-store. Similarly 16-24 year-olds are the most likely to be using their phones at the table, so restaurant owners need to be thinking ahead to make the most of this opportunity. Find out more about engaging millennials in restaurants.
You can utilise real-time messaging to engage your customers when they’re most responsive. Offer rewards via preferred customer channels (such as push notifications from your restaurant’s app) to advocate loyalty and increase redemption.
5. React in real-time
Millennials are categorised into two groups: Generation Y (25-34 year olds) who are shaped by technology and driven by creativity, flexibility and social responsibility and Generation Z (18-24 year olds) who expect technology and have been raised on instant access and gratification.
Satisfy the need for instant gratification and flexibility with real-time reporting. Monitor campaign success and trigger reward promotions, cashback and gift vouchers via restaurant apps in real time with Eagle Eye Reward.
In short, millennials have the potential to be the most loyal, ardent group of supporters out there. But you need to create consistent, emotional messages that appeal to them across all channels. Treat them like a valued customer and see customer loyalty grow. Contact us today for tailored customer loyalty support for your company.