Let's Talk Loyalty #569: Meli+, el modelo de suscripción de Mercado Libre y Mercado Pago(Spanish Language Episode)
Jul 31, 2024
Camilo Jiménez, the former regional loyalty leader for Mercado Libre and Mercado Pago, shares insights into the groundbreaking transition from point-based rewards to a subscription model called Meli+. He discusses the strategic alliances with major brands like Disney+ and Deezer that amplify member benefits. Camilo highlights the significance of performance metrics in loyalty programs, the role of cryptocurrency, and the emphasis on innovation within the company culture to enhance user experiences and drive customer engagement.
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Favorite Loyalty Program Anecdote
- Camilo Jiménez shared his favorite loyalty program called Puntos Leal in Colombia and other countries.
- It allows benefits with small to medium restaurants that usually don't have their own programs, fitting his frequent use.
Subscription Model Shift Insight
- Mercado Libre evolved their loyalty program from points and levels to a subscription model called MeliPlus.
- Subscription provides predictable income and continuous, clear benefits, which users value more than abstract points.
Subscription Strategy Against Amazon
- Mercado Libre adopted a subscription loyalty model partly to compete with Amazon Prime, their key competitor in Latin America.
- They enhanced value by including streaming partnerships like Disney+, Star Plus to compete effectively.