The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

279. Creating an Irrational Loyalty Program at McDonald's with Lauren Kemp & Stephen Springfield

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

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The Importance of an Academic Literature Review in Loyalty Programs

The value of a loyalty program is engagement with the program itself, not the reward that you get. People want transaction and they want the transaction to be in their favor. The real trick here is that all the literature focused on things like levels of programs where you get VIP status. Think about your airline rewards, where you're a gold member platinum. And now you get to do all these out with this program doesn't allow for it.

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