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Attracting Millennial Audience with Branded Currency in B2B Channel

The opportunity for consumers to interact with retailers exists in so many different places. But with foot traffic and the number of brick and mortar stores declining, retailers need to look elsewhere to engage the Millennial audience in particular. The channel where I think there is the biggest opportunity for growth with this demographic is in B2B.

At K+H Connection we hear it all the time: many retailers and B2B gift card managers worry about consolidation in the B2B marketplace. They are losing the direct relationship with the B2B incentive/loyalty/reward programs, because gift card fulfillment for these programs is being outsourced to gift card aggregators. So if we are losing our traditional route to the insights enjoyed from the direct relationship, I contend, that it is time to start carving our own path to better connect with, track and understand the end-user. This will especially ring true for connecting with the Millennial audience.

Creating a Branded Currency experience is the ultimate way to do this.

Millennials respond to reward options that create more than just a transaction (Check out the video below from the Wall Street Journal)

Think of your Gift Card as the Key to the Experience

We all know how valuable it is to offer a gift card in exchange for reward points. Now imagine if you can offer your gift card as the key to redeeming for a lifestyle choice.

This is a completely doable idea and will have impact for you business. Millennials are the largest generation and you NEED them in your store. So use what you have to create the experience they want with your brand. For example:

This is Found Money- It feels more Exciting

Don’t forget, this is FREE MONEY! Make it as enjoyable as possible. Even though most retailers are sending gift cards in bulk quantities to warehouses, the experience can be personalized/customized.

Your gift card is ultimately a tool in your toolbox. Make it work for you to drive the kinds of sales and interactions you want with not just your Millennial consumer, but all customers!

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