Your brand needs to connect with millennials now – it’s crucial for the future of your business. At over 75 million strong, millennials dominate the U.S. population. This generation, born between 1980 and 1996, holds around $3.4 trillion in spending power in 2018.
The age gap in the millennial generation is the root of many marketing communication challenges. The 22-year olds could be just out of college with irregular daily schedules, limited budgets, and a single relationship status. While on the other end of the spectrum, 38-year old millennials are likely to be married homeowners with children. Do individuals from age 22 to age 38 have enough common characteristics to be lumped together as a single target audience?
Researchers commonly note the generation’s common characteristics as having short attention spans, an expectation for brands to cater to their personal needs, and very busy lifestyles. Basically, it all boils down to this: millennials demand that reward programs are Relevant, Simple, and Convenient. […]
Roger Dow, creator of the Marriot Rewards Program, once said, “The first two years, I had peers trying to kill this idea a hundred times over.” Fortunately, Dow knew the key to tackling the program push-back is knowing how and when to present program results.
There are four dilemmas new rewards programs face. Read about them below and learn how to tackle them.
- Is my program working?
Regardless of the way you measure your program’s success, if you don’t have the team focused on the right things at the right time, there will be a misalignment of expectations among your colleagues. When you’re initially designing the program, […]
Today’s customers can be your best friend or worst enemy. In an age where one shared bad experience can go viral and bring heaps of negative attention onto a brand, it’s important to understand what’s bringing customers through your front doors and what’s driving them away. As a frequent restaurant visitor, I’ve experienced behaviors from brands that were more likely to turn me elsewhere than to bring me in to eat.
Here are three reasons why I may have stopped eating at your restaurant:
1. You sent me kids offers before I had children. Kids eat free promotions are a great way to drive traffic from families, particularly on days when business is slower than usual. However, if you’re running this kind of campaign, make sure that it’s going to guests who can take advantage of it. Without the means to collect data and segment your audience, you end up sending offers like this to everyone, which all-but guarantees any guest without kids will avoid your brand on a night when families with children make up a large percentage of the dining room. […]
The reality is sad but true: A certain percentage of your regular customers will stop visiting. After a few months have gone by, these previously loyal customers will become lapsed customers.
But instead of mourning these customers as permanently lost, you can take just a few simple steps to win them back – and perhaps even make them more loyal than before!
A well-executed win-back strategy not only prevents those lapsed customers from disappearing forever, but can represent some real financial wins in both the short and long term. Here’s how to create your own successful win-back plan: