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EP 17 - Retention 101: Creating Loyalty Programs That Don't Suck
Adspend with Ash Melwani and Rabah Rahil
I've Got a Million Customers. Lifetime Value Is a Thousand.
I looked at their whole database and like, okay, great. I've got a million customers. Lifetime value is over a thousand. And they were like, we're fine with that risk that works for our model. An Amazon Prime customer is like three or four times more valuable than an actual non-prime customer. It's fascinating to see you said the airline miles. They're kind of the pioneer of that. But Starbucks was not doing horrible, but once they introduced their loyalty program, it was amazing. Do you waste all your money there on shitty coffee? How well they blended economic incentives,. Like to your point, I think the status incentives are really meaningful to a lot of people
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