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The So What from BCG
Punch Cards, Frequent Flyers, and the Future of Loyalty
Jul 17, 2024
Edward Crouch discusses the future of loyalty programs, emphasizing unique experiences and personalization to create loyal fans. Topics include the impact of loyalty programs on industries, evolution towards personalized interactions, Gen AI's influence on loyalty programs, and reevaluating strategies for future success.
20:37
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Quick takeaways
- Communicate loyalty program benefits clearly to customers for easy understanding and appreciation.
- Create value from loyalty programs by identifying key customer behaviors and customizing incentives to drive engagement and gather insightful data.
Deep dives
Importance of Communicating Clearly in Loyalty Programs
In the podcast, the importance of communicating loyalty program benefits in a clear and simple manner is highlighted. Companies face the challenge of ensuring that customers quickly understand the offerings and why they should care. Simplifying the communication of loyalty incentives is emphasized to help customers grasp the value proposition easily.
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Discover
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