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 head of brand strategy and creative at Bonehook in Portland, Oregon.