Let's Talk Loyalty

Dr David Cox is a loyalty expert and one of the few industry leaders who also boasts a PhD in loyalty marketing! 

In this episode of "Let's Talk Loyalty", we discuss key concepts in motivational marketing that drive powerful commercial results, particularly in the B2B sector. Having won multiple awards for driving loyalty for clients such as IBM and Lenovo worldwide, we discuss some of the most effective techniques they use such as the power of sport to connect with members, and the importance of localisation to get the best results. 

We also discuss some of the key trends in the loyalty industry emerging as a direct result of Covid-19, with plenty of insights and ideas that can help you to optimise any programme, whether B2C or B2B.

Show Notes: 

1) David Cox - CEO of Motivforce

2) Motivforce 2020 Awards 

3) Loyalty Magazine Awards June 2020 

4) Loyalty Articles 

As the founder of Bain & Company's Customer practice, Rob Markey is the one of the world's leading authorities on customer loyalty, having co-created The Net Promoter System® - the industry metric and framework now used by more than two thirds of Fortune 1000 companies. 

Rob co-authored the best-selling book "The Ultimate Question 2.0" with Fred Reichheld, and he is now a keynote speaker, leader of the NPS Loyalty Forum and a podcaster on customer and employee experience. 

In this episode of Let's Talk Loyalty, we discuss the insights that led to the development of the NPS framework as our industry's most used (and abused) measurement tool, as well as how Bain and Company is currently advising its clients to more thoroughly measure, monitor and share customer health indicators in order to encourage a more "patient' approach from investors and management alike.

Show Notes:

1) Rob Markey: Customer Experience Transformations | Loyalty | Strategy & Marketing | Author | Speaker | Podcaster

2) Rob Markey's website

3) The Ultimate Question 2.0: Driving Good Profits and True Growth

4) Net Promoter System: Website and podcast

5) HBR 2003: The One Number You Need to Grow  

6) HBR 2020: Spotlight Series - Articles by Rob Markey, Pete Fader and Dan McCarthy and Jack Brennan

As the founder of Bain & Company's Customer practice, Rob Markey is the one of the world's leading authorities on customer loyalty, having co-created The Net Promoter System® - the industry metric and framework now used by more than two thirds of Fortune 1000 companies. 

Rob co-authored the best-selling book "The Ultimate Question 2.0" with Fred Reichheld, and he is now a keynote speaker, leader of the NPS Loyalty Forum and a podcaster on customer and employee experience. 

In this episode of Let's Talk Loyalty, we discuss the insights that led to the development of the NPS framework as our industry's most used (and abused) measurement tool, as well as how Bain and Company is currently advising its clients to more thoroughly measure, monitor and share customer health indicators in order to encourage a more "patient' approach from investors and management alike.

Show Notes:

1) Rob Markey: Customer Experience Transformations | Loyalty | Strategy & Marketing | Author | Speaker | Podcaster

2) Rob Markey's website

3) The Ultimate Question 2.0: Driving Good Profits and True Growth

4) Net Promoter System: Website and podcast

5) HBR 2003: The One Number You Need to Grow  

6) HBR 2020: Spotlight Series - Articles by Rob Markey, Pete Fader and Dan McCarthy and Jack Brennan

Bryan Pearson, the former CEO LoyaltyOne is known globally as a leader in loyalty, retail marketing and analytics. 

He is also the author of the bestselling book "The Loyalty Leap: Turning Customer Information Into Customer Intimacy" as well as "The Loyalty Leap for B2B." He has also been awarded a lifetime achievement award by Loyalty Magazine as “Personality of the Year” in 2018.

In this episode of Let’s Talk Loyalty, we discuss some of the key success factors for the coalition model for loyalty in global markets, as well as some innovative ideas emerging in the retail sector as we adjust to a new reality beyond the global pandemic.

Show Notes:

1. Bryan Pearson – Former CEO of LoyaltyOne
2. Bestselling book: The Loyalty Leap by Bryan Pearson – Amazon.com
3. Forbes articles by Bryan Pearson
4. Case Study - Flâneur Wines in Oregon
5. The Loyalty Report 2019 - https://info.bondbrandloyalty.com/loyalty-report-2019
6. Brand Loyalty Article - 5 Key Insights about Gen z

This episode of "Lets Talk Loyalty" was inspired by some exciting ideas emerging from academic leaders who are increasingly helping investors to consider the future lifetime value of customers (not just historic revenues) when valuing a firm.

"Customer Based Corporate Valuation" (CBCV) is a concept developed and commercialised by Peter Fader, Professor of Marketing with the Wharton School at the University of Pennsylvania, together with Dan McCarthy to help investors and loyalty marketers apply ever more sophisticated financial models to our businesses to accurately understand the value of our customers as a strategic asset.

These models are generating exciting insights for C-Suite Executives, and the episode discusses how we as loyalty marketers can ensure we educate our company leaders to appreciate and value the loyal customers and relationships we nourish. 

Show Notes: 

1) Professor of Marketing, the Wharton School of the University of Pennsylvania 

2) Dan McCarthy - Assistant Professor of Marketing at Emory University

3) Leigh McAlister - Professor of Marketing - University of Austin 

4) Harvard Business Review - Jan/Feb 2020 issue articles - "The Loyalty Economy." 

5) Theta Equity Partners 

6) Customer Centricity: Focus on the Right Customers for Strategic Advantage - 2012 Edition (New Edition Scheduled July 2020) 

7) Bain & Co - How to Calculate Customer Value 

As the UK's largest broadcaster, Sky has access to some of the top entertainment assets in the world including The Premier League for football fans and the PGA Tour for golf lovers. 

Some years ago, the company recognised some key underlying challenges to retaining happy customers as they began to challenge how the brand offered preferential rates to new customers rather than existing ones. Many believed the brand wasn't being as loyal to them as they were to Sky!

This insight allowed a fundamental shift in the business to firstly ensure a consistent product offering to customers but also add in a powerful programme to acknowledge customer loyalty, particularly over longer periods of time. 

With a clear intention for customers to feel loved, in 2017, Sky launched its VIP programme, the first tenure-based programme in the industry which continues to promise that "the longer you stay, the better it gets". 

From delivering exclusive live experiences for over a million customers a year, to now delivering even more extraordinary & innovative virtual experiences, Rob Chandler shares how Sky VIP is each day creating new and exciting ways to really say thanks to its customers.  

Listen to this week's episode of "Let's Talk Loyalty" podcast for exclusive insights on loyalty long term as well as innovative loyalty ideas in lockdown. 

Show Notes:

1) Rob Chandler - Head of Customer Loyalty - Sky UK

2) All Customer's Are Not Created Equal - by Stan Phelps 

3) The Gamification Revolution: How Leaders Leverage Game Mechanics to Crush the Competition - by Gabe Zichermann

In the travel sector, a compelling loyalty programme can be a key differentiator for customers - for airlines, hotels and also for online travel agencies.

ebookers UK was originally launched in 1998 as the UK's first online travel agency, adding the "Bonus+" programme in 2016. 

Listen to this episode of "Let's Talk Loyalty" to hear how ebookers.com has built a simple and generous loyalty programme - particularly focused on mobile users, along with insights on the KPI's they are measuring and how they're thinking about their members priorities amid Covid-19. 

Show Notes:

1) Nicola Helfet

2) ebookers.com 

3) Bonus Plus Programme

4) Boots Advantage Loyalty Programme 

5) TK Maxx 'Treasure' - Retail Loyalty Programme

Statisticians are familiar with the concept of “self-selection” but it’s rarely discussed, understood or accounted for when determining your “return on loyalty”.

Simply because your most loyal customers have joined your programme, does not mean your programme improved or caused them to become more loyalty. In today’s fascinating discussion around the challenge of “self-selection”, my two guests who co-founded the "customer science" firm Ellipsis, discuss how they isolate, measure and define the levers within a loyalty program to understand what’s working, what’s not and why! 

Listen for a masterclass on the concept of “return on loyalty”, NPS and how to separate correlation from causation using data insights.

Show Notes:

1) Tim Tyler – Managing Partner at Ellipsis & Company

2) Adam Schaffer -  Co-Founder & Managing Partner at Ellipsis & Company

3) Return on Loyalty - https://www.returnonloyalty.com.au/

4) Whitepaper – Return on Loyalty https://www.ellipsisandco.com/perspectives/measuring-return-on-loyalty 

5) Whitepaper - Your Loyalty Strategy Depends on Your Program Age  

6) https://www.ellipsisandco.com/

7) The Mismanagement of Customer Loyalty – Harvard Business Review article

Statisticians are familiar with the concept of “self-selection” but it’s rarely discussed, understood or accounted for when determining your “return on loyalty”.

Simply because your most loyal customers have joined your programme, does not mean your programme improved or caused them to become more loyalty. In today’s fascinating discussion around the challenge of “self-selection”, my two guests who co-founded the "customer science" firm Ellipsis, discuss how they isolate, measure and define the levers within a loyalty program to understand what’s working, what’s not and why! 

Listen for a masterclass on the concept of “return on loyalty”, NPS and how to separate correlation from causation using data insights.

Show Notes:

1) Tim Tyler – Managing Partner at Ellipsis & Company

2) Adam Schaffer -  Co-Founder & Managing Partner at Ellipsis & Company

3) Return on Loyalty - https://www.returnonloyalty.com.au/

4) Whitepaper – Return on Loyalty https://www.ellipsisandco.com/perspectives/measuring-return-on-loyalty 

5) Whitepaper - Your Loyalty Strategy Depends on Your Program Age  

6) https://www.ellipsisandco.com/

7) The Mismanagement of Customer Loyalty – Harvard Business Review article

With over 15 million members, Rakuten Rewards is one the world’s largest cashback programs, and to date it has paid out over $2 billion to members across online and offline retail stores in the United States! 

In this episode of Let's Talk Loyalty, I interview Kristen Gall, President of Rakuten Rewards, to understand the power of affiliate marketing, their partnerships with American Express and Live Nation - as well as their global sponsorships with FC Barcelona, The National Basketball Association (NBA) and The Golden State Warriors. 

Listen also for some fascinating insights on exactly what retail trends are emerging amid Covid-19 and the categories consumers are slowly beginning to spend on again.

Show Notes: 

1) Kristen Gall - President, Rakuten Rewards 

2) www.Rakuten.com – leading Cash Back service in the US

3) www.rakuten.us – Rakuten Americas corporate site

4) global.rakuten.com/corp – Rakuten global site

5) Rakuten Optimism Conference

6) Marketplace 3.0 - by Hiroshi Mikitani (Author)