Millennials to Loyalty Programs: Fast, Free and Easy
Posted On October 13, 2011
Millennials love free stuff. The Napster Generation is accustomed to getting a lot of what it wants for free online. And that attraction to freebies is proving to be boon among Millennials for loyalty and rewards programs that appeal to it.
According to an Aimia survey, Millennials are more likely than other generations to take part in customer loyalty programs when there is a giveaway offered. In general, Millennials lag slightly behind other generations in participation in consumer loyalty programs. About 77% of Millennials report participating in some kind of loyalty program, slightly less than older generations. But when a reward or giveaway is involved, Millennial participation jumps to the front of the pack.
And not only are Millennials more likely to participate in rewards-oriented loyalty programs, but they are much more likely to tell their peers about them. In the survey, Millennials were 50% more likely than other generations to say they would use social media like Facebook and Twittter to promote the programs they participated in.
What are Millennials looking for in a rewards program? Three characteristics ranked well above the others: free, fast, and easy. Participation in the program should be free, rewards should come quickly, and signing up needs to be one-click easy. Of course. If Millennials enthusiasm for loyalty programs has been surprising, their affinity for things that are free, fast, and easy certainly isn’t.