Mobile loyalty programs are key to reach millennials

The industry already knows the benefits of loyalty programs. Millennials are maximizing their purchase power: They spend US$ 600 billion each year in the US. According to a recent survey, having a loyalty program designed specifically for mobile devices seems to be a requisite to approach this group.Approximately 66% of millennials answered that they would change brands to obtain more benefits for their loyalty. The same percentage said they wouldn´t be loyal to a brand without a good rewards program.A loyalty program is an important element of the marketing mix, but technology also defines this generation and keeps it busy. 45% spend more than an hour a day checking out stores online through their smartphones and 96% states having used mobile phones in a store to check out prices or compare brands. This is why the loyalty plan for millenials must include an online component.71% is willing to share their location in exchange for sales and promotions. 52% is open to the possibility of receiving text messages with purchasing incentives. This is one of the first audiences that fits into the profile who will receive mobile offers based on their location.