Word of the Day: Prewards

Marketing to digital natives aged 12 to 26 is a tough task for the Gen X (and older) crowd, for Millennials have built up a heretofore unseen immunity to typical marketing come ons.
But Millennials are not perfectly immune. According to BusinessWeek, a marketer simply needs to speak their language. And thanks to efforts by Edo Interactive, a Nashville-based firm, brands like Jersey Mikes sub chain are learning the lingo.
Edo created what amounts to a fiscal Facebook: After applicants create profiles on Facecard.com, they get a Mastercard in the mail that allows them to borrow, lend, or give away money to buddies electronically. For a fee, retailers can send them “prewards,” small denominations of instant store credit, based on their age, location, and personal interests. Because the $2 to $3 gifts are redeemed via credit card, tracking is a breeze.
Jersey Mike’s sent “prewards” to 300 high school seniors, a group that is notoriously nonresponsive. But the gamble yielded an “overwhelming” 17% return rate, which is “way above” the numbers direct mailings produce.

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am now head of brand strategy and creative direction at Bonehook in Portland, Oregon.