As the new year begins, millions of people set ambitious resolutions, hoping to make positive changes in their lives. Unfortunately, the statistics around New Year’s resolutions aren’t very encouraging.
As the new year begins, millions of people set ambitious resolutions, hoping to make positive changes in their lives. Unfortunately, the statistics around New Year’s resolutions aren’t very encouraging. Research reveals that by the end of January, most people have already abandoned their goals. According to Forbes, 94% of individuals give up on their New Year’s resolutions, leaving behind unfulfilled aspirations.
But what if companies could tap into this tendency and turn it into an opportunity for engagement? By offering targeted rewards that help consumers stick to their goals, brands can position themselves as supportive partners in their customers’ personal journeys, driving sales, loyalty, and engagement in the process.
Why New Year’s Resolutions Fail
The reasons why most New Year’s resolutions fail can be boiled down to a few key factors:
- Unrealistic expectations: Many people set overly ambitious goals, leading to burnout when they can’t meet them.
- Lack of specific planning: Resolutions often lack the concrete steps needed to be achievable.
- Limited motivation: Once the initial excitement fades, people lose the drive to continue their efforts.
These patterns suggest a gap that brands can fill. Consumers often need more than just willpower to succeed—they need external support and incentives. This is where offering rewards can play a significant role.
How Rewards Can Help Consumers Stick to Their Resolutions
Offering rewards to consumers around New Year’s resolutions is a strategic way to keep them engaged and motivated. Here’s why this works:
- Financial Assistance: Many New Year’s Resolutions come with an added cost. From gym memberships, language learning apps, to mental health services, and beyond, an investment is required by the ‘resolution maker.’ Such an investment is often a strain on an already pocket-pinched holiday shopper. Using lifestyle rewards as a sales and/or loyalty incentive is the perfect way to help your customer with the push they need to stay on track with their own objectives, while achieving yours.
- Accountability: Offering rewards tied to resolutions can help hold consumers accountable. For example, a fitness brand could offer incentives for tracking workouts or a financial services company could provide benefits for budgeting milestones. This sense of accountability helps combat the drift toward abandonment. Adding an element of gamification can help keep users engaged & on track, and help brands collect valuable customer data to personalize messaging.
- Personalized Engagement: Rewards can be tailored to reflect individual goals, creating more personalized interactions between the brand and the consumer. For instance, brands can send targeted offers based on a customer’s personal aspirations, showing that they understand and support their journey.
Brands That Can Benefit
Different industries can creatively offer rewards that align with common New Year’s resolutions. Here are some examples:
- Fitness & Wellness: Offer discounts on gym memberships, fitness classes, or healthy meal plans to help customers maintain their health goals.
- Financial Services: Provide dollar for dollar rewards or incentives for reaching budgeting or savings milestones, encouraging better financial habits.
- Retail & Lifestyle: Partner with consumers to help fund lifestyle resolutions that can include traveling more, attending more live performances or cooking classes with purchase.
- Rewards as a Differentiator from Discounts
During the post-holiday period, consumers are often overwhelmed with discount offers, but rewards offer a more meaningful way to engage. Instead of slashing prices, brands can offer experiences and benefits that align with the customer’s aspirations. This sets the brand apart, providing not just a purchase incentive, but a long-term value that supports personal growth.
By aligning brand messaging with consumers’ personal goals, companies can build deeper connections that foster loyalty. As we know, customers remember the brands that go the extra mile to help them succeed—not just during New Year’s, but throughout the year.
Conclusion
New Year’s resolutions may have a low success rate, but by offering rewards, brands can play a pivotal role in helping consumers stick to their goals. More importantly, these rewards allow businesses to engage meaningfully with their customers, fostering loyalty and long-term relationships. This approach not only benefits the customer by helping them achieve their resolutions but also serves as a strategic investment for brands looking to stand out in a crowded marketplace.
