The Loyalty Minute

The Loyalty Minute

By Rob Gallo
One Podcast, Two Styles:

1. A daily one minute briefing on the latest trends, statistics and industry news in the world of customer loyalty.

2. A weekly conversational style interview with marketing experts and business leaders sharing insightful and entertaining stories about customer loyalty.

For curated customer loyalty news stories and full length articles which may have been referenced on the show, please visit theloyaltyminute.com
Where to listen
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Episode 43 - How To Create A Customer Loyalty Program For Your Business
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about how to create a customer loyalty program for your business... It’s one of the most cited statistics in the business playbook: 80% of your venture’s profit will come from 20% of your existing customers. Loyal customers are your most valuable customers, which is why many small business owners go above and beyond to incentivize their customers to return time after time. A loyalty program can improve customer retention, bring in more positive customer reviews and build the kind of brand loyalty that can help you sustain the business through a recession. Here’s how to set up and run an effective customer loyalty program. Design your program around a goal What’s the customer behavior you wish to incentivize? Design your loyalty program to reward your customers for taking a specific action. For instance, if they visit your cafe for a coffee four times in a month, the fifth coffee is free. This encourages more frequent visits, bringing in foot traffic and increasing sales. Here are the main goals your loyalty program might help you accomplish: Increased spend: make each transaction more profitable. Frequent visits: encourage customers to make a purchase more often. Market research: use your loyalty program to learn purchasing habits, solicit feedback and test new products. To learn more about creating a loyalty program for your business and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!
01:43
February 21, 2020
Episode 42 - What Gen Z Shoppers Really Want
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about What Gen Z shoppers really want. In a global study co-sponsored by the IBM Institute of Business Value and the National Retail Federation, they examined what this youngest generation considers to be “retail essentials” as well as what delights and engages them. The study, based on a global survey of 15,600 Gen Zers between the ages of 13 and 21, explores Gen Z’s expectations for the retail environment, their usage and attitudes toward technology and what customization means for them.  One finding in particular was rather interesting, Three times as many Gen Zers shop in a store most of the time compared to online.  I would say it’s mainly because these don’t have the means to buy online. The report is chock full of great infographics that are worth a look…  I know that does not help much when you’re listening to a podcast, but I will put a link to the study and the infographics in the show notes. https://nrf.com/research/what-do-gen-z-shoppers-really-want To learn more about this study and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!
01:16
February 20, 2020
Episode 41 - The Top Three Mistakes Companies Make With Their Loyalty Program
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about the top three mistakes companies make with their rewards program. First off, there is a difference between a repeat customer and a loyal customer. Some companies don’t know the difference. Just because a customer comes back, even repeatedly, doesn’t mean the customer is loyal – at least not to the company. So what are the three biggest mistakes companies make with their rewards program? Number 1 is lack of rewards: If you’re not offering rewards beyond your own products and services, you’re missing out by pigeon holing your customers. Number 2 is over-discounting: It is NOT a unique business practice, and once you do it, the competitor down the street is going to compete with a price that’s just a little lower? Number 3 is lack of convenience: This may be the most important mistake to avoid. If you want your loyalty program to stand out, make it easy. To break through the noise, brands must make their loyalty programs as seamless to navigate as possible. To learn more about how to avoid these common mistakes, and discover other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!
01:23
February 19, 2020
Episode 40 - The Hoops Customers Jump Through For Loyalty
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about in interesting article by Courtney Jespersen of NerdWallet called Millennial Money: Make Your Brand Loyalty Pay Off Blogger Dani Austin of Dallas, Texas, logged into her Southwest Airlines account a few days before the end of 2019. Shortly after, she and her husband, Jordan Joseph Ramirez, flew to Las Vegas (and back home) in less than 72 hours. The spontaneous trip was part of a last-ditch attempt to try to earn the Southwest Companion Pass, a benefit of the Southwest Rapid Rewards program that allows pass holders to bring one companion on flights for at least a full calendar year free of airline charges (not including taxes and fees). But consumers jump through hoops for more than airline rewards. She goes on to say that brother-in-law is a die-hard shopper at American Eagle Outfitters. He recently purchased a jacket and jeans from the clothing store for just $2.69. He’s no extreme couponer, but he leveraged his loyalty arsenal: his store credit card, AEO Connected Rewards account and a coupon. So what’s the secret? When consumers are devoted to a particular brand, they can cash in. To learn more about this and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!
01:27
February 18, 2020
Episode 39 - Mining Your Customer Data For Increasing Loyalty
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about mining your customer data to improve loyalty. Equipped with loyalty programs, convenience stores and other retailers are collecting more data on their customers than ever before and the reasoning behind it is clear to data experts. It's imperative to use loyalty data to retain customers since it’s seven times more expensive to acquire a new customer than it is to encourage a visit from an existing customer. Collecting data, though, is just the first step. The real results come when retailers dig deep into their loyalty program data and uncover insights to drive more traffic and sales. Loyalty data such as date of purchase, items purchased, location of purchase and customer loyalty ID should be enriched with demographic and psychographic data on the individual customer.  You can even take weather into account when you look at retail data...  There is really no detail too small. That said, it takes a keen eye to know what to look for and how to properly parse it when mining data...  But finally and most importantly, you need to leverage the data to create predictive models.  Remember, the data you are looking at is history.  Even if it is recent history like yesterday, so the key is to let it help you paint an accurate picture of the future. To learn more about this and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!
01:42
February 14, 2020
Episode 38 - Superstitions and Pavlovs Dog
Welcome loyal listeners and today's episode and I started to think what does it really seem like to be superstitious am I superstitious then I thought what is really superstition mean in an essence it's kind of habit that you believe if you continue to do something something else will happen right so it's usually stereotype that gamblers are superstitious they will do specific things that will lead them to win while we know this might not be true it does sort of if you do the same routine over and over again and you get rewarded for it you might think well that's definitely working for me so there is a correlation between Superstition and a pavlovian type of response then Facebook LinkedIn Instagram all these posting type of social format will you keep scrolling scrolling scrolling you're just looking for that next thing and that's what keeps you loyal to that brand in the sense that are you really captured in that whole pavlovian thing of looking for a reward anyway I just thought it was interesting and I wanted to share to learn more about this and other great Customer Loyalty insights please visit TheLoyaltyMinute.com enjoy
01:45
February 13, 2020
Episode 37 - The Rise of Experiential Marketing And What It Means To Your Brand
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about Experiential Marketing and what it means to your brand. If you’ve been watching the marketing industry trends over the past few years, you will have noticed a shift away from traditional advertising toward what some believe to be a "new" sector of marketing called experiential. It’s a widely mentioned buzzword, "experiential marketing" is now recognized as the powerful tool it actually is.  So what is Experiential Marketing?  In a nutshell, it is the reward of experiences to your customers or even employees as opposed to a physical gift of points or something tangible. Experiential marketing has been around for more than a century; but, in recent years, because of various business and societal shifts, its share of global brand marketing budgets has grown significantly. Experiential takes many forms, from pop-up activations to permanent installations, from B2B conferences to B2C experiences. The techniques used can address the senses in a tactile way or dazzle with digital engagement, but all experiential marketing programs share common elements. To learn more about this and other great customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:31
February 12, 2020
Episode 36 - Live Chat and Chatbots Overtake Email For Retail Communications
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about live chat and chatbots overtaking email for retail communications, and its effect on customer and brand loyalty. Independent research from Narvar and YouGov has revealed that the modern retailer needs to look carefully at the quality of the communications experience they are providing across all channels, both before and beyond the buy button. The study also found that millennials and baby boomers strongly believe that fast and direct communications about an order is the number one factor in securing their loyalty. Here are some Key findings: Millennials are 20% less likely to contact a retailer via email than baby boomers, and are five times more likely to use live chat on a website Fast and direct communications about an order is the number one factor in winning the loyalty of millennials and baby boomers - that’s over things like retailers sharing recommendations and product reviews 20% of all device owners in the UK are using voice-control for online shopping Millennials are the age group least likely to want to be contacted by a retailer over SMS To learn more about this and other great customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:28
February 11, 2020
Episode 35 - (Interview) with Tom Schwab - Founder and CEO of Interview Valet
Welcome loyal listeners to another episode of The Loyalty Minute, I’m your host Rob Gallo and today I am eager to chat with our special guest Tom Schwab - Founder & Chief Evangelist Officer of Interview Valet.  Interview Valet is the concierge-level podcast guest marketing service providing the fastest way for authors, speakers, coaches, consultants, and brands to maximize the benefits of podcasting. Their premium white-glove solution takes care of everything but the speaking!  They handle all the bookings on podcasts for you so you can reach your ideal audience with the least amount of snags or hassle. To learn more about Tom and Interview Valet, I encourage you to visit https://interviewvalet.com/loyaltyminute/ Enjoy!
23:27
February 10, 2020
Episode 34 - The 800 Pound Gorilla In The Loyalty Space
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about The 800-pound gorilla in the Loyalty program space, and that company is called Google. As I’m sure you already know Google dominates every aspect of your life.  And after launching in the US last year, the Play Points program has been a great way to earn additional perks and treats for trying out brand-new applications and buying music, movies, and TV shows legally. But what does it really mean that Google is giving you loyalty points for spending money on google play? Maybe the better question is, with Google’s dominance in the ecommerce search space, what if they now decide to leverage that might and give people Google Play Points for buying items through it’s Google Shopping platform for everyday items?  I mean they did it in the travel industry once dominated by Kayak, booking.com and Travelocity and others, now google has a booking engine embedded directly in the search results.  That has to hurt the other aforementioned companies a bit. Well it will be interesting to see what the 800 pound gorilla does with its new toy. To learn more about this and other great customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:29
February 6, 2020
Episode 33 - What Customer And Brand Loyalty Mean To A Company's Valuation
Welcome Loyal listeners in today’s episode of the loyalty minute we’re going to be talking about what brand and customer loyalty mean to a company’s valuation.  In a nutshell it comes down to the company’s perceived purpose. Brands with a high sense of purpose have experienced a brand valuation increase of 175% over the past 12 years, compared to the median growth rate of 86% and the 70% growth rate for brands with a low sense of purpose, according to Kantar Consulting's new Purpose 2020 report "Inspiring Purpose-Led Growth" Among marketing leaders, 76% think their organization has a defined purpose, but only one in 10 have a corporate purpose statement that's backed by a meaningful activation plan. Two-thirds of marketing leaders believe that purpose delivers long-term growth, just one-third believe purpose is a company-wide movement. Nearly two-thirds of millennials and Gen Z express a preference for brands that have a point of view and stand for something, the report found. To learn more about this report and other great customer loyalty insights, please visit theloyaltyminute.com  Enjoy!
01:24
February 5, 2020
Episode 32- Protecting Your Loyalty Program From Fraud
Welcome Loyal listeners in today’s episode of the loyalty minute, we’re going to be talking about loyalty program fraud.  Now we're not talking about someone coming in to steal your points, it's more about the personal information that has significant value to hackers. Loyalty program fraud rose 89% year on year, predominantly driven by the amount of personally identifiable information (PII) available from increasing numbers of data breaches. With direct and indirect losses from loyalty and reward points fraud estimated at $1 billion every year, enterprises are struggling to limit damage as fraud attacks shift from the point of transaction to different elements of the buyer’s journey, including new account signup, login, and promotion and coupon use. Loyalty programs have grown steadily in the last decade, with memberships increasing nearly 10% year on year. Consumers have accumulated $48 trillion of unspent loyalty points globally. Nearly half (45%) of loyalty program accounts are inactive, with consumers not tracking or redeeming points. To learn more about this and how to protect your loyalty program from fraud, and other great customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:29
February 4, 2020
Episode 31 - God Gave You Two Ears And One Mouth Use Them In That Ratio
Welcome Loyal listeners to today’s episode of the loyalty minute… Nothing can make your heart drop faster than feeling like you just lost a loyal customer.  But just because a customer is unhappy, it does not mean they are gone for good.  On the contrary, a company’s most loyal fans are often the ones that had a problem, and also had a fantastic experience getting it solved. As we discuss so often on this podcast, Customer loyalty is key — and here’s how to make it happen. The simple fact that a customer is bringing their problem to you — instead of simply walking away angry — shows that if you play your customer success cards right, you have got a great chance of winning them over. Here are a few simple tips to help turn even the crankiest customer into a great business opportunity. Be as Personal as Possible. Listen.  God gave you two ears and one mouth, use them in that ratio. Paraphrase their points to ensure you TRULY understand what they are saying or asking.  I can’t tell you how many time I’ve emailed a customer support team and they write back with something completely unrelated.  One company that really does get it as Intercom. they are able to read between the lines and really understand what you're asking. And that is really important To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:39
February 3, 2020
Episode 30 - (Interview) With Matt Barnett CEO of Bonjoro
In this episode we talk with Matt Barnett who is Papa Bear, CEO and head of product at Bonjoro, a 1-1 personalized video messaging platform changing the way companies build long term loyalty with customers from the get go. I think you'll find some insightful stories as it relates to building better brand loyalty.  Learn what Virgin Airlines did to win Matt as a customer for life.  Enjoy!
27:31
January 30, 2020
Episode 29 - Merkle and Levo Report Uncovering Buying Behaviors and Purchasing Power of Millennial Women
Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at the Merkle Report Uncovering Buying Behaviors and Purchasing Power of Millennial Women.  The report was done in 2018, but the data is still very relevant today. The population of millennials, which totals 75.5 million, represents a major market force in terms of buying power, spending $200 billion a year. It is estimated that millennial women represent approximately $170 billion of that market. According to the report, millennial women are exceptionally hard workers, with 40% having a "side-hustle" in order to fund their big purchases and projects One of the key takeaways is that from your company’s own brand loyalty perspective, you should discover what their side hustle is, and see if you can help them achieve their goals.  Not only will you look like a superhero, but they may spend more of that side hustle money with you. To learn more about this report, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:15
January 30, 2020
Episode 28 - Bond Brand Loyalty Report
Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at how Loyalty programs are another great way to create long-term relationships and boost sales. According to the Bond Brand Loyalty Report: • 77% of consumers say they are likely to stay with a brand that has a loyalty program. • 70% of consumers are more likely to recommend a brand with a good loyalty program. • 63% of consumers say they're prepared to modify their spending habits in order to maximize the benefits of a loyalty program. One of the biggest benefits of creating a well run loyalty program is it helps existing customers become brand advocates.  Just remember to set up your program to keep you customer feeling special and show them they matter, and they will gladly spread the word. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:11
January 29, 2020
Episode 27 - Oracle Retail Topography Study of 15500 Consumers
Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at Oracle Retail Topography Study which Asks 15,500 Consumers About Views on Privacy and Personalization, Supply Chain Visibility and Readiness for Facial Recognition, Virtual Sales Assistants and Drone Delivery in Retail Consumers are demanding greater transparency into retailer operations, service history and supply chains. Over half (52 percent) of consumers state that a key influence on loyalty is knowing that retailers are acting sustainable. This is especially true for grocery (56 percent) and fashion (52 percent) shoppers that state knowing that retailers are acting sustainably and limiting their impact on the environment would influence their loyalty. Consumers (54 percent) also expect to have visibility into store inventory and be able to research and reserve items for same day pick up in-store. If items are being delivered to their homes, a massive 72 percent of customers expect real-time updates on the location of an item throughout the delivery process. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:31
January 28, 2020
Episode 26 - (Interview) With On-Demand CFO Ken Wentworth
In this episode, the On-Demand CFO Ken Wentworth talks about brand and customer loyalty in the every day lives of his clients, and share personal stories about what drives brand loyalty as a personal consumer. To connect with Ken Directly, you can reach him on Linkedin at https://linkedin.com/in/ken-mr-biz -wentworth or through his website https://www.mrbizsolutions.com/ To reference this and other Loyalty Minute episodes, please visit theloyaltyminute.com. Enjoy!
31:36
January 27, 2020
Episode 25 - Euclid Survey and Research - Evolution of Retail, The Brand Perception Effect
Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at Euclid’s survey and report called, Evolution of Retail: The Brand Perception Effect. Euclid, is a leading data platform for offline attribution and store visit retargeting.  Some of the results of their survey are interesting, and in one section it shows the majority of consumers - 52 percent of Millennials and 48 percent of Gen Xers - feel it’s important that their values align with the brands they like. In contrast, just over a third (35 percent) of Baby Boomers agreed.  So much for us older folks and the company’s brand values 😀 The research also underscores the importance of values in a Millennial-led economy. Brands that want to resonate with this conscientious generation should be authentic and unapologetic about what they stand for - while still providing exceptional products, experiences, and the technology-driven convenience Millennials expect. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy! 
01:18
January 24, 2020
Episode 24 - How To Make Great Loyalty Program Even Better? Sephora Has The Answers
Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at what makes the Sephora loyalty program one of the top loyalty programs in the retail space. In a recent Forbes article titled “how to make a great loyalty program even better? Sephora has the answers”, Pamela Danziger sat down with Allegra Stanley the vice president and general manager of Sephora's loyalty program to get some answers. It starts with a fierce loyalty to the customer and from that, customers’ fierce loyalty to Sephora results. “The way we think about loyalty is that our clients are the core of everything we do,” explained Stanley. “What I am most passionate about is our unique experiences,” Stanley concludes. “They bring to life the emotional component of loyalty which is so important and really drives the majority of engagement with our clients.” To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy! https://complinks.co/loyalty-matters#how-to-make-a-great-retail-loyalty-program-even-better-sephora-has-the-answer
01:11
January 23, 2020
Episode 23 - How Personalization Can Enhance The Relationship Between The Brand And The Customer
Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at The Epsilon customer loyalty research study conducted along with GBH Insights into how personalization can enhance the relationship between the brand and the customer. It's a very fascinating slide Deck with very insightful information that I think you might find valuable. 90% of the people surveyed have an affinity towards personalization and 8 out of 10 consumers are more likely to do business with a company that offers personalized experiences. Slide in particular which I thought was very interesting was that personalization means something different to different people. 32% say customization mean “something suited to me exactly so that I'm more likely to be interested in what they're selling”, yet only 7% say “it means noticing how shopping or surfing the internet and customizing advertising and shopping options to my preference.”  Actually on an aside, I saw something pretty cool the other day, I was looking for a particular item, it was an outdoor patio set, and about three days after I bought it, I was met by a retargeting ad, and When I went to click on the X to dismiss the ad it asked me if I if I had already bought the item, which I did oh, so now it won't show me that same thing anymore. Pretty cool. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy! Here is a link to the statistics from the Epsilon slide deck. https://complinks.co/2018-loyalty-statistics#consumers-who-believe-companies-are-doing-very-well-on-offering-personalized
01:47
January 22, 2020
Episode 22 - PwC International Customer Loyalty Survey
Welcome Loyal listeners in to today’s episode of the loyalty minute we’re going to be looking at PwC international survey of 15,000 consumers across 12 countries including the US, UK focused around customer loyalty and and found that experience is EVERYTHING. Even though price and quality remain top of mind when consumers make purchasing decisions, 73% of global respondents say that a positive experience is among the key drivers that influence their brand loyalties. Conversely, the survey underscores how bad experiences drive consumers away. Of the consumers surveyed, 60% would stop doing business with a company due to unfriendly service, 46% because of employees’ lack of knowledge and half because they don’t trust the company. One in three (32%) say they would walk away from a brand they love after just one bad experience. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:28
January 21, 2020
Episode 21 - (Interview) New Conversational Style Customer Loyalty Podcast with Rob Gallo
Welcome Loyal listeners to today’s episode of the loyalty minute.  I’m your host Rob Gallo, and For the past few months I have been producing short one or two minute daily podcast highlighting so key insights in the customer loyalty space, but today marks a new secondary “conversational interview style” format of the Loyalty Minute.  As the name implies, we will be interviewing CEOs CMOs, CFO’s and loyalty marketing folks from the business world in a conversational style format I think you’ll enjoy. To distinguish the difference in your podcast feed, the original format (which I will still continue to do) will be listed by Episode numbers, and the conversational interview style format will be listed by the Episode number and the word Interview, and then the title of the episode. But before we jump into that, I’ll start this episode with just mean explaining why I decided to start this podcast. Back to the beginning of starting an online casino no back end, built our own loyalty program from scratch, and at this point in my life, I would like to share my stories of many successes in developing customer loyalty programs, and the lessons I’ve learned from the few failures I’ve had throughout the last 20 years. So what can you expect to hear when you listen to each episode? We will be interviewing some of the top loyalty marketing professionals in the country to gain knowledge and insights from their personal stories in their attempts to create customer loyalty.  Each interview will be in a conversational style, but we will encourage our guests to tell concrete stories from their past experiences, as we’ve found this makes the take-aways more memorable.  As of right now, we are anticipating the conversations to last between 15 and 20 minutes. If you have any ideas for possible episode topics that we should cover on the show, or you know someone that would be a perfect guest, make sure to connect with me via email at robgallo@theloyaltyminute.com. The more input we get from listeners, the better this podcast is going to be. Thank you so much for listening to the first interview style of The Loyalty Minute. Make sure to subscribe to the show in iTunes or your favorite podcast player.  And if you think we are deserving of a 5 star review, we would greatly appreciate that as well.
05:41
January 20, 2020
Episode 20 - The Future of Hotel Loyalty Programs
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking at the future of hotel loyalty programs… The link to the complete article can be found at theloyaltyminute.com Smart hospitality companies are adapting their programs to offer reward for more than just hotel night stays. A Company that really gets it is Hyatt and the world of Hyatt loyalty program. Skift conducted an interview with Amy Weinberg and it was truly fascinating to hear how a company like Hyatt thinks about their loyalty program.  They They conduct a  listening based approach and are continually evolving to see what's most important to their guests. in doing so they form strategic relationships with several key partners that allow their guests to earn rewards in the world of Hyatt even when they're not staying overnight at one of Hyatt’s properties.  that's smart and innovative. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:16
January 17, 2020
Episode 19 - 2020 Is The Year Of The Brand Mashup
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking at 2020 being The Year Of The Brand Mashup… The link to the complete article can be found at theloyaltyminute.com A few of the key highlights are: Emerging And Heritage Brand Cross-Pollination Creating A Timeless Factor Go Wider When deciding what company or brand would make for a successful partnership, it’s important to eliminate any limitations to your team’s creativity. Think outside your industry, country and demographics, and home in on what is going to resonate with your future audience. Some of the most iconic and successful collaborations of the past decade have been across industries, mashing up food and technology, fashion and nonprofits, music and hospitality, and so much more. Just remember: In order to be truly groundbreaking and relevant, be original. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:39
January 15, 2020
Episode 18 - Subscription Based Loyalty Programs
Beyond the subscription model, I see some very relevant issues with how big companies should view their loyalty programs:   1. Smart brands are looking beyond offering points in exchange for a purchase as a model for building loyalty. Consistent engagement is the new loyalty, along with frictionless are now more price-sensitive than brand loyal is the relative parity between competitors in highly consolidated sectors.   2. Ponder the business potential if travel companies were to leverage the myriad of services and products they offer outside the traditional trip and build partnerships with local providers on services and products they don’t offer.  These two points are critical for the success of ANY company's loyalty program strategy.     To summarize, you MUST expand beyond your current offering to reach your consumers in more places during their everyday lives.
01:46
January 13, 2020
Episode 17 - 5 Tips for a Successful Restaurant Loyalty Program
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking 5 Tips for Successful Restaurant Loyalty Programs 1. Go Digital This sounds obvious but you'd be amazed at how many restaurant operators don't get it. If you need help in this area that would be the first place to look at a digital loyalty program marketing expert. Guests don’t want or need another card taking up space in their wallet. 2. Keep Your Restaurant Loyalty Program Simple No one is going to want to be a part of a restaurant loyalty program that has a laundry list of rules, regulations, and stipulations. Set up your rewards program so that any guest visiting at any hour can redeem their points in the same way as everyone else. 3. Train front of the house Staff on the Loyalty Program Be sure each server has been trained to ask guests if they are a loyalty program member when they deliver the bill, and how to respond when the guest’s answer is “no.” 4. Create FOMO (a fear of missing out) How will anyone know what they’re missing out on by not being a member of your restaurant’s loyalty program if they don’t know about it? Tap into their FOMO (fear of missing out) by showing them exactly what they’re missing.  Making them feel as if they are part of an exclusive club by being a member is also a good solution. 5. Promote Your Restaurant Loyalty Program Everywhere In addition to promoting the benefits of being a loyalty program member online, take measures to promote the program in other places as well to cover as much ground as possible. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:43
January 8, 2020
Episode 16 - The Loyalty Economy - Harvard Business Review article
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking The Loyalty Economy.  In the most recent issue of the Harvard Business Review (which you can find the link to the full article at theloyaltyminute.com) you’ll find fascinating and interesting insights as to how you can determine tangible value to customer loyalty, particularly in a publicly traded company.  But it can also be useful for any company looking to determine the true value of customer loyalty. While is it not recognized GAAP accounting methodology yet, there are some pretty good arguments as to why and how it might become one.  Of course since we only have a minute here, I can’t get into the nitty gritty details, but I think you’ll find it is a good read. While qualitative measures such as Net Promoter and customer satisfaction scores are also of use to investors in assessing customer loyalty, companies would need to source such measures from independent third parties that publish their methodology and present them in consistent formats. One important take away is, Companies earn loyalty when they anticipate and meet fundamental, often unexpressed, customer needs. Doing this depends on two sets of capabilities: design thinking (or better yet, outstanding customer experiences) and careful application of cutting-edge technologies. To learn more about this, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
01:38
January 3, 2020
Episode 15 - To Coupon Or Not Coupon, That Is The Loyalty Question
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking the Inmar Shopper Behavior Study which uncovered that a staggering 83% of respondents reported that coupons were a reason for differences in their purchasing behavior.  While I am not a big proponent of using coupons to create loyalty, and in fact it can be argued that couponing is NOT a form of loyalty, nonetheless, it is an activity that many consumers like and use, so it is important to study the numbers…  Some additional statistics from the study are... 39 percent bought a product sooner than planned because of a coupon 50 percent of shoppers clip digital coupons while shopping in-store 39 percent bought a brand they otherwise would not have normally purchased because of a coupon  18 percent switched back to another brand they have purchased previously because of a coupon 38 percent bought more than they would have otherwise because of a coupon To learn more about this study, and a ton of other customer loyalty insights, please visit theloayltyminute.com  Enjoy!
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December 20, 2019
Episode 14 - Top 3 Mistakes Loyalty Programs Are Making
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking a the top three mistakes most loyalty programs are making. First let’s start off with a little fact that the average person in the US is a member of 19 loyalty programs according to the 2017 Colloquy loyalty census (and I have a junk drawer full of them to prove it).  But of those 19, how many does the average person use…? About 4 and a half, and they are primarily one from each vertical market.  Hotel, Airline, Fuel restaurant, casino… This is why it’s critical for your brand to continually be innovating and thinking of new ways to engage with your customer and loyalty members…  Anyway, I digress.  On to the top three mistakes most loyalty programs make... Lack of Rewards: If the average customer can’t see herself attaining a reward level, she will move on, and in fact 57% of loyalty members do just that...  Over-Discounting: Low prices are attractive to many customers, but if it cuts into your bottom line and those loyal members become unprofitable, that defeats the purpose from a business model standpoint. Lack of Convenience: This may be the most important mistake to avoid. Agin, think of the 18 other loyalty programs your customer belongs to, if yours is not convenient, easy to use and relevant to their needs, you need to rethink your approach. To learn more about this study, and how to effectively fix these mistakes, I encourage to reach out to me personally at theloayltyminute.com  Enjoy!
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December 18, 2019
Episode 13 - Why do so many people say ‘no’ to retailer loyalty programs?
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking at Why so many people say ‘no’ to retailer loyalty programs?  In past episodes we discussed why people leave or stop using loyalty programs, A full 38 percent of consumers are not interested in joining loyalty programs due to their lack of perceived value according to a study conducted by CFI Group and Radial. The study suggests that to get hesitant customers on board, retailers should offer faster delivery, personalized customer service options and more flexible returns. In the study, 63 percent of survey respondents said that the option of speedier delivery influences them to sign up for a loyalty program, 41 percent said that recognition as a loyalty member from a customer service associate would incentivize them to buy more and 55 percent said that multiple exchange options made them more likely to repeat purchase. To learn more about this study, and to uncover other interesting insights on customer loyalty, I encourage to visit theloayltyminute.com  Enjoy!
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December 12, 2019
Episode 12 - KPMG Survey of 18000 Consumers
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking at the KPMG survey of over 18,000 consumers in 20 countries which explores the nature of customer loyalty and how some traditional loyalty programs may NOT be keeping consumers brand-faithful The survey reveals that 75 percent of consumers would switch brands for a better loyalty program. It also states that “Retailers who are serious about customer centricity need to ensure their loyalty programs are in line with the expectations of their customers. And today’s consumers like to interact with an ecosystem that covers payments, fulfillment, social media, etc., as this can drive value, convenience and a positive experience. And that’s a platform experience.” In terms of earning customer loyalty, 59 percent of the consumers surveyed said they are loyal to their favorite brand because of a personal connection. Seventy-five percent said their loyalty was driven by product quality, 66 percent said value for money, and 57 percent, customer service. To learn more about the KPMG survey, and to more interesting insights on customer loyalty, I encourage to visit theloyaltyminute.com  Enjoy!
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December 5, 2019
Episode 11 - The Customer Experience
For this and more insights on customer loyalty, be sure to visit theloyaltyminute.com
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December 2, 2019
Episode 10 - The seven deadly sins of building a loyalty program
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking at the seven deadly sins of your loyalty program. Make it easy to find on your site.  It should be above the fold and clearly marked as your loyalty program. Make it easy to understand.  How to earn points, and how to redeem them. Simple. Support it.  Set it and forget it does not work. Don’t overdo the communications.  As great as you think your loyalty program is, it’s NOT for everyone. Clearly show the value to the potential member.  Remember they are thinking WIIFM Innovation.  Dare to be different, better and special. Finally, know your numbers.  Make sure the financial model works for you as a company and generates revenue. If you’re considering sprucing up your loyalty program, I encourage to visit theloayltyminute.com  where you’ll find a ton of great information and interesting insights on customer loyalty Enjoy!
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November 15, 2019
Episode 9 - Effectively integrating an app within your loyalty program
Apps are part of our day-to-day lives, we use them for just about everything on our phones, so it’s no surprise that brands are integrating Apps into their existing loyalty program and vise versa as a way to reach and target their customer base. According to Business of Apps, there were over 2.2 million apps available in the iOS App Store in May this year. This number increasing daily. Yet, 77% of users report never using an App again 72 hours after installing it. This means if you are considering integrating your loyalty program into your mobile app, you better have a compelling reasons for your customers to engage with it within the first three days of them installing it, or three quarters of them will abandon it. If you’re considering integrating an App into your loyalty program, I encourage you to read the article titled “Effectively integrating an app within your loyalty program”.  You can find it and tons of other customer loyalty insights at theloyaltyminute.com.  Enjoy!
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November 6, 2019
Episode 8 - Oracle study - The Loyalty Divide in QSR - Quick Service Restaurants
Welcome Loyal listeners, in today’s episode of the loyalty minute we’re going to be looking at some interesting insights in the loyalty programs of QSRs (Quick Service Restaurants) According to an Oracle study ”The Loyalty Divide,” looking at the gap between operator and consumer perspectives on loyalty, customers are far less engaged in a loyalty program than restaurateurs believe they are. In fact, 23 percent of customers reported that they rarely join loyalty programs, while restaurateurs believed this number to be only two percent. Additionally, restaurateurs believed that their reward offers are relevant to over 90 percent of their customers, while only 27 percent of customers would actually agree. For more details and a link to the Oracle study, visit theloyaltyminute.com.  Enjoy!
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November 6, 2019
Episode 7 - Righting a wrong, how American Express fixed the mistake it made with Plenti
The Plenti Coalition Loyalty program launched and shuttered by American Express during the last three years had cost the company a sizable amount of money, but at least they learned from their mistake and made the adjustment. Back in February, 2019 American Express and Rakuten announced a partnership which will allowed new users of the platform to earn American Express Membership Rewards points instead of cash back for affiliate link purchases. Now, as of October 31st, Rakuten is expanding that offer to all current members of its shopping ranks. “We know our Card Members want more ways to earn more points with the brands they love,” says Chris Cracchiolo, Senior Vice President, Global Membership Rewards & Loyalty Benefits at American Express. “We are excited to expand our relationship with Rakuten to offer our shared customers and new customer segments more opportunities to earn Membership Rewards points than ever before.”
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November 5, 2019
Episode 6 - Morning Consult Study of 2,200 Internet Users Regarding Brand Loyalty
A recent survey from Morning Consult, which polled 2,202 US internet users, found that some consumers—particularly Gen Z and millennials—are not always ready to commit to just one product. More than half (51%) of 18- to 21-year-olds said they would like to try out different items, "even when I know there's one I like."   Older respondents were less likely to be as adventurous. Roughly two-thirds (67%) of Gen Xers and more than three-quarters (75%) of boomers said that when they find a product they like, they to to buy it over and over again.  To read more about the report, and other Loyalty Matters, visit http://theloyaltyminute.com
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October 11, 2019
Episode 5 - The New Topography of Retail study conducted by Oracle
The New Topography of Retail also identified a new global expectation of service staff to be armed with more information than ever before. A majority of consumers (74 percent globally and in North America respectively) think knowledgeable in store staff are important to their brand experience. Consumers (57 percent globally and in North America respectively) also expect retailers to always know the reason for their returns. North American consumers have even greater expectations of retailers: 60 percent expect customer service teams to know the date of their original purchase and 57 percent expect teams to know the method of payment.
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October 8, 2019
Episode 4 - The State of Customer Loyalty in 2018 from a study conducted by Yotpo
The State of Customer Loyalty in 2018 from a study conducted by yotpo (yacht po) 1. Why are you loyalty to a brand?   A. 55% of consumers are brand loyal because they love the product, 25% say it's the deals, and 7% say it's the customer service. 2. How many repeat purchases does it take to build loyalty?  A.37% of consumers say that it takes five or more purchases for them to consider themselves loyal to a brand. 3. Are loyal customers are worth the effort? A. It is 6 times more cost effective to market to an existing customer than it is to go out and get a new one, so the answer is a resounding yes.
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October 8, 2019
Episode 3 - A wake-up call for sleepwalking loyalty programs
In the Travel Loyalty Report conducted by Expedia Affiliate Network and Points International, they uncovered a plethora of valuable data and insights in today's loyalty programs. The report highlights that discounts and coupons are still the most popular tactic for driving loyalty, with 61% of all survey respondents admitting to relying heavily on them. However, globally, 71% rate ‘quality of offering’ the greatest impact on loyalty, while customer experience and an improved breadth of product and service offering are also valued above discounting methods. Only half of respondents cite that they are actively working to improve their product range and customer experience and even less (33%) to improve their breadth of product and service offering.
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October 7, 2019
Episode 2 - Improving Customer Experience (CX) build better brand affinity
The data revealed in this Inmoment research uncovers the customer journey though their initial phase of engaging with a brand. The large majority of shoppers — 80 percent — said they “grew to love” a brand over time; the cumulative effect of great products, service, buying experiences, positive reviews and recommendations from others. Fifteen percent experienced “love at first sight,” and 7 percent committed after a glowing recommendation from a trusted source.
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October 5, 2019
Episode 1 - The Motista Retail Study on Emotional Connections in Brand Building
There is a 300% increase in the Life Time Value (LTV) of a customer who has an emotional connection to a brand.  The study also reveals the consumers with an emotion connection stay loyal to that brand for an additional 2.7 years, and will recommend that brand at a much higher rate (71% vs. 45%)
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October 4, 2019