Why it is important to have age/background specific reward system

Every loyalty program is based upon several factors and its success heavily depends on it. Factors such as interests, budget, age are the main pillars of selecting a reward program for any organization. Loyalty programs program are basically a reward system or program that is usually used by firms, organizations and establishments to entice and encourage their customers or employees to shop or avail the respective rewards or programs that they have teamed up with to escalate their business. For such a rewarding system to function and make profit, it would be necessary for the organization or firm to analyze and research on the interests of the customers that they are targeting.

The Youth

Interests may also vary from one age group to another and thus, it is extremely vital to section out the target audience based on their age and then introduce reward options based on that. It is quite natural that consumers of the age of 18-25 would be inclined towards making purchases on affordable things and having a reward system that allows them to receive a cashback or where they can avail heavy discounts would interest them to a great extent.

The Middle Class

Generally, the central target audience for most reward programs are concentrated on this section of the society. The middle class is the most common consumer strata and are the ones usually looking for value-for-money deals in every aspect of shopping. Concentrating on this section is a smart idea as they are the people who are most enticed by cashback offers, coupons, discount vouchers, etc. Designing and executing specific specific loyalty programs to cater to this section of the society is highly likely to be a successful idea.

The Elite

A good chunk of one’s consumers is likely to fall under the elite section who are generally categorized under the age group of 45-60. This implies that this strata of consumers may not be too interested in rebate options or freebies, however, what is likely to appeal to them are reward systems that automatically credit virtual points for every flight they take or every purchase they make at selected luxury restaurants or brands. This sort of reward system works for this particular group of consumers as they prefer easy, hassle-free upgradations and do not feel the inclination towards too many frills attached to some types of loyalty programs. Every loyalty program planned can be based on the specific interests of the age group you are targeting such as music, sports, art, make-up, etc as it helps extensively in narrowing down the options for age-specific consumers.

Just like every other marketing program, it is imperative to do a complete market research based on the target audience that one is trying to cater to. This makes strategizing much simpler and efficient on the whole. Having understood the age of the consumers you are targeting, it becomes extremely simple in designing loyalty programs that encourage them to purchase from your brand or organization

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