The news and trends affecting consumer engagement
That You Need to Know
In this week's April Fool's joke-free customer engagement recap:
- The one financial habit millennials should keep
- How to Create Customer Loyalty from Points and Miles Programs
- Facts Of Life: As They Move Through Life Stages, Millennials' Media Habits Are Different and Distinct
- Restoration Hardware joins trend of charging customers for loyalty program
- Hilton Deepens Its Uber Relationship in New Loyalty Push
The one financial habit millennials should keep (Washington Post)
As much as older generations like to wave their canes and complain about spoiled Millennials and their Facebooks, some of the data coming out about this particular generation is incredible. In this case, 62% of Millennials are stashing away at least 5% of their income for retirement. 40% of them have set aside funds for emergencies. This is significant data that marketers should be aware of in coming years. Value and personal ROI are already important, but they'll be magnified in years to come.
How to Create Customer Loyalty from Points and Miles Programs (The Access Loyalty Blog)
Breakage sucks. Usage rules. In this study from Collinson Latitude, loyalty program members are asking for anything - anything! - to spend their miles on. Get them to cash in those points, and they'll come back.
Facts Of Life: As They Move Through Life Stages, Millennials' Media Habits Are Different and Distinct (Nielsen)
There are some interesting nuggets in this article, like the fact that the generation as a whole eats up over 85 hours of digital device usage each week. The bigger takeaway is that the generation covers several distinct demographics. We're all guilty of lumping them all together, but in reality there are some just walking out of college, while others are already well into the child rearing phase. The generation covers those poles and everything in between, meaning a blanket Millennial strategy isn't going to work.
Restoration Hardware joins trend of charging customers for loyalty program (Star Tribune)
It's been a while since we've had a paid loyalty program launch. Amazon, REI, NewEgg and others have launched programs with quite a bit of success. One thing's for sure - this program will pay off for their heavy customers, always a good idea. Conversely, the fellow who shows up only during sales is likely to be disappointed when those deals are reserved for members.
Hilton Deepens Its Uber Relationship in New Loyalty Push (Skift)
We're highlighting this story because it's a great example of a too infrequently used engagement tactic: partnering with other brands to add corollary value. Yes, you can have the concierge hail a cab for you in any hotel. But integrating brand functions into each other's apps is so much easier.
Don't just ask people to be more loyal to your brand. Be so useful and valuable that they have no other choice. And what value you can't add on your own can probably be added by another brand.