Finding the Perfect Rewards & Loyalty Program
Updated: Jul 29, 2020
Enter any workplace or association and you’re likely to find men and women of all ages striving to achieve their professional goals. There may be excellent camaraderie among everybody, but the interests of these individual people will be very diverse when they clock out at the end of a working day.
Rewarding the performance of these employees and members with a comprehensive loyalty program is a great idea, but how do you establish what they want? These people may be mothers and fathers, or young millennials who want to do something exciting with their first couple of paychecks. Even within all of the demographics, you will find subgroups with varying interests and more distinct expenditure trends.
Let’s explore a few of the key demographics that should be catered to in a top rewards and loyalty program.
There should be Distinct Benefits for Rural and Urban Dwellers
More so than most countries, Canada is an incredible contrast between bustling cities and beautiful, rural openness. Organizations often have multiple office locations, as well as employees and members who spend most of their time on the road, working from home and offsite. Offering great deals on a downtown Saskatoon restaurant won’t be of much interest to somebody who lives in northern Saskatchewan. That’s why the best rewards programs offer a wide variety of benefits that cater to the expenditure traits of both demographics.
A study by Newspapers Canada found that rural dwellers spend far more than urbanites on recreational vehicles, as well as financial services and healthcare. Retail brand partnerships with auto dealers, banks and health services in more isolated Canadian regions are far more likely to catch rural dwellers as a result.
The wide array of products and services available in a city, such as Calgary or Saskatoon, makes it easier to cater to members living in these built up areas. The Canadian taste for the outdoors means however that urbanites often seek out offers in rural locations, such as a fun family trip to the ski slopes.
Choose a Loyalty Program with Great Deals for Parents and Socialites
Age is a significant determining factor in how people spend their money, and how they use their member rewards and loyalty programs in Canada. We all like to treat ourselves, whether it’s a nice meal or a new laptop, but you’ll also have members who are seeking to save money on day-to-day expenditures like home improvements or insurance.
Official US statistics have found that workers between the age of 25-34 spend far more than their younger counterparts, particularly on the likes of healthcare and furniture. A comprehensive rewards and loyalty program will assess the wants and needs of families who may be looking to save money as they search for a new home or vehicle.
Younger millennials, due to their relative lack of years in the workforce, are less likely to have significant savings built up. Discounts on small-price items are an excellent avenue in which to cater to their interests in a loyalty program. A spa visit, trip to the cinema or a nice bottle of wine are simple but eye catching discounted treats that can be availed of by rewards program members who want to spend their evenings or weekends with friends and family.
Make sure that you choose a member or employee rewards and loyalty program with a broad range of benefits that will serve a diverse range of interests. This will substantially increase engagement with the program and members will end up thanking management or leadership for giving them access to these great savings.