Brands currently face a variety of challenges including rising customer expectations, generational differences, and increasing desire for seamless omnichannel experiences. CORA Loyalty is answering that call with a comprehensive portfolio that integrates next-gen tech, deep personalization, and strategic services. At the helm is Beth McCoy, President of CORA Loyalty, who joined Loyalty360's Industry Voices series to share her vision and strategies for evolving loyalty in 2025 and beyond.
"CORA Loyalty is a newly created portfolio made up of three separate companies or entities that some people may be familiar with from the loyalty marketplace," McCoy explains. These include RewardOps, an API-based rewards marketplace; Carlson Marketing Solutions, an enterprise-grade points bank and engagement platform; and Points at Work, a channel incentives tool tailored to employees and manufacturers.
Together, they form an end-to-end loyalty ecosystem, bolstered by a services layer offering data science, digital marketing, and curated marketplace solutions.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Good afternoon and good morning.
This is Ethan Perry fromLoyalty360, welcoming you to
another edition of our Leadersin Customer Loyalty Industry
Voices series.
In these episodes, we talk tothe leading agencies, technology
partners and consultants in theworld of customer channel and
brand loyalty about all of thetechnology trends and best
(00:25):
practices that are impacting theability of brands to create
unique experiences, enhanceengagement and, most importantly
, drive customer loyalty.
Today we have the pleasure ofspeaking with Beth McCoy,
president of Cora Loyalty.
Welcome, beth.
I'm glad you joined us, beth.
Speaker 2 (00:40):
McCoy Great to be here.
Thank you, Ethan.
Speaker 1 (00:42):
Well, to start off, you know, can you introduce
yourself to our audience?
Tell us a little bit more aboutyourself and your role with
Cora and your background inloyalty.
Speaker 2 (00:50):
Yeah, thank you.
So I recently took on the roleof president of Cora Loyalty.
Cora Loyalty is a newly createdportfolio made up of three
separate companies or entitiesthat some people may be familiar
with from the loyaltymarketplace.
So RewardOps is a modernAPI-based rewards marketplace
(01:11):
and fulfillment engine forenterprise brands, fintechs and
loyalty program operators.
Carlson Marketing is the secondentity part of the core loyalty
portfolio, and CarlsonMarketing Solutions is an
enterprise grade points bankloyalty and engagement platform
serving financial institutions,travel providers and large
(01:33):
retailers.
And the third company roundingit out, third product is points
at work, and this is more in theincentive space and channel
program, so tailored foremployees and manufacturers.
So that's the technology sideof it, Ethan.
We also have a services layerwrapped around all of this with
(01:54):
a really robust data sciencesoffering digital marketing
solution and also marketplacecuration services as well, and
also marketplace curationservices as well.
So when you put all of theseelements together, you have a
comprehensive end-to-end loyaltysolution that covers pretty
much every aspect of the market.
Speaker 1 (02:12):
Amazing, wow, that's a lot of offering.
Speaker 2 (02:15):
It's newly minted, this core loyalty, so it is so
hot off the press.
In terms of my background, Ibegan my career in the airline
industry and that's where Ifirst connected with
professionals managing theairline's loyalty program.
One of them later joined aloyalty firm and hired me away
into the wild and wonderfulworld of consumer loyalty.
(02:38):
Years later, I've builtexpertise in developing
comprehensive loyalty solutionsand I've helped launch and grow
two loyalty startups and workedwith several large North
American brands, mainly in thefinancial and travel industries.
Speaker 1 (02:55):
Awesome.
Well, as part of your newlyminted group and all the amazing
stuff you guys recently did,you know released some research
on consumer card preferences andcredit card usage related to
loyalty and rewards.
Can you share a little moreabout the key findings and what
sparked the need for you guys todo this research?
Speaker 2 (03:15):
Yeah.
So we decided to do thisresearch just to better
understand the evolvinglandscape of consumer
preferences for loyalty andrewards cards, and especially in
an increasingly digital firstenvironment.
So some of the key findingsincluded were that loyalty and
rewards really do lead toinfluencing which card Americans
(03:35):
use.
We should note that this isbased in the US and I'm based in
Toronto, but this was aUS-based poll, so for 55% of
Americans, loyalty and rewardscredit card benefits are a key
factor in determining which cardis used to pay for their daily
purchases, and this is a factorthat comes into play ahead of
(03:57):
convenience and credit limit.
Secondly, nearly three quartersof Americans cite rewards
related factors, such as theability to earn redemption
options, sign up bonuses, asconsiderations when opening a
new credit card, and thiscompares to factors like
interest rates and security andfraud protection, existing
(04:18):
relationship with the user thattype of thing.
And then, lastly, earningpoints or miles on purchases is
one of the most appealing creditcard benefits to 45% of
Americans.
So those are some of the thingsthat we took away from the
Harris poll that we conductedAwesome.
Speaker 1 (04:34):
Yeah, one of the other things that we noticed in
your research, when we'relooking at it, is when making a
payment with a credit card.
I believe 55% of respondentschoose to pay with a card that
has a loyalty or rewards programattached to it.
So, for brands who might nothave their own credit card
program like, how do they ensurethat they're giving their
customers the best possibleloyalty or rewards experience?
Speaker 2 (04:58):
Yeah, I think even a lot.
Most brands probably have sometype of loyalty program,
especially the credit cardloyalty program in place, but it
might be somewhat rudimentaryor not particularly feature rich
.
So there are opportunities toexpand that and make it more
appealing to members.
So, above all, the loyaltyprogram has to be really simple
(05:21):
and straightforward.
Really simple andstraightforward.
So customers need to find iteasy to earn or redeem points
without confusion and understandwhat's going to take them to
the next status or perk.
So that ease of understandingand usability will really drive
both loyalty and engagement.
Secondly, it's important toavoid the kind of one size fits
(05:43):
all approach based on, likebroad and simplistic
segmentation.
We're all individuals andunique, so we need to account
for those differentcharacteristics and behaviors
and there are solutions outthere to offer loyalty programs
that can really deliver real andpersonal value to members,
increase satisfaction and reallymake members customers feel
(06:04):
known and seen, which overallwill improve that retention,
transaction frequency andoverall spending with the card.
And then, lastly, this oneseems kind of it seems like it
should be well known orconsidered, but make sure that
programs members are aware thatthe program exists.
It's always surprising to mewhen I hear people talk about
(06:26):
that they didn't even know theywere part of a loyalty program.
I was chatting with someonerecently who's been doing some
work with us and he was a memberof a credit union for a long
time.
Some of his financial productsthere and it wasn't until he
started talking with with thoseof us at reward ops and Carlson
that he he thought to look andhe'd been part of a loyalty
program with that credit unionfor a really long time and
(06:48):
didn't even know it.
So kind of seems like a given.
But creating that awareness,that consistent awareness of the
program, is really critical aswell.
Speaker 1 (06:59):
Amazing.
Yeah, so we know everyone lovesbenefits.
Your research backs up the factthat folks love earning points
or miles on their purchases.
But how should brands bestructuring the card benefits to
make sure that they're properlyappealing to the customers?
Speaker 2 (07:15):
Yeah, I think there's a few different considerations
in approaching this and makingsure that you've got those card
benefits that fit with yourcustomer base.
So, first off, making sure thatthe rewards categories match
how your customer base isactually spending.
So, for example, depending onthe audience, it might make
sense to offer rates on travel,for example, or higher earn
(07:41):
rates on travel.
It also really makes sense toensure that you're offering earn
on everyday expenditures suchas grocery and gas, and also
targeting some of thosecategories as well to offer
accelerated earn where yourmembers are spending.
Flexible redemption options aresort of the other end of the
(08:03):
scale.
They're really key in allowingmembers to redeem for
merchandise gift cards.
Travel we often see statementcredits or even smaller things
just such as being able toredeem your points for a coffee.
So that kind of speaks to awide range and tailors to
members.
Added perks are something elsethat can be included as card
(08:24):
benefits, and these can varyagain based on the consumer base
.
So things like exclusiveconcert or event tickets for
your travel, cards offeringairport lounge access,
charitable donations oreco-friendly perks can also
offer a different point, a pointof differentiation as well.
Speaker 1 (08:44):
Yeah, that's awesome, and so one of the things that
we hear about in terms of likemaking sure people are getting
the benefits they want is someof the challenges that brands
have around the differences inloyalty expectations across
generations.
Now that Gen Z is firmly in theworkforce and getting credit
cards and earning points, how dobrands tailor their loyalty
strategies to meet the needs ofall these different demographic
(09:06):
groups that are now in?
You know, have buying power?
Speaker 2 (09:10):
Yeah, so that was definitely a key part of the
Harris poll that we conducted,and from that we learned that
64% of baby boomers are the mostlikely to be influenced by
loyalty and rewards programs,followed by Gen X, millennials,
and then ultimately, gen Z,which you just talked about.
40% of Gen Z are influenced byloyalty and rewards programs.
(09:33):
So, in terms of looking attrends among the generations,
baby boomers prefer moretraditional programs with
discounts and tangible benefitsand sort of that in-person
contact, but they're starting tobecome more accepting of
digital methodology.
And then, as you progressthrough the different
demographics, the inclination ismore towards those that are
(09:56):
digital first and experienceoriented, with Gen Z valuing
more instant gratification.
We talked about that free coffee, earlier gamification and more
of those purpose-driven brands,but I think it's key to mention
there are some commonalitiesacross all the generations,
though, and digital engagementis definitely key for all.
(10:18):
But, as we mentioned, in-personcontact still plays a role for
some of the older customers.
Personalization there's thatword a role for some of the
older customers.
Personalization, there's thatword is critical.
So meeting the member wherethey're at, so you know, unique
experience for the youngergenerations.
And then, lastly, just thatchoice and flexibility across a
wide range of rewards andexperiences.
Speaker 1 (10:41):
Yeah so I mean you just mentioned personalization
and I know in your 2025 trendspredictions, you know you really
you predicted businesses aregoing to refocus on delivering
those tailored relationshipdriven experiences.
You know using personalizationto build trust and ensure
customers feel valued.
Do you have somerecommendations for brands who
are looking for ways to improvetheir personalization efforts?
Speaker 2 (11:04):
Yeah, I think the area to start is just around the
data and the analytics.
So loyalty program redemptionanalytics are a critical driver
of program success and customerengagement, but they're also a
crucial indicator of health ofthe program and overall member
commitment.
So leveraging that data tocreate targeted experience can
(11:27):
really boost results.
And studies show thatpersonalization can increase
program engagement by up to 40%.
So some I mean there's a myriadof ways to tackle
personalization, but some of thekey opportunities include
browse and search, history-basedrecommendations.
So this allows tailored productselections to be delivered to
(11:49):
members to keep them engaged.
Points balance, appropriateoffers so dynamic offers that
match a member's points balance,either programmatically or
through member driven choice.
Nothing more disheartening thansending an offer to a member
that isn't available to them.
Wishlist reminders are anotheropportunity.
(12:11):
So you can kind of give alittle nudge to members for
items that they've either showninterest in in the past or that
they may actually have saved intheir wishlist.
Abandoned cart recovery.
So this allows members tocomplete purchases by connecting
their points or personalizedrewards that was left in their
cart and then just creatingoffers and campaigns that align
(12:34):
with members' favoritecategories or purchase history.
We talked about that earlierand making sure that you know
where and what your members arespending on, and then you can
create offers and campaignsaround that, and then you can
create offers and campaignsaround that, so that all tapping
into all of these differentopportunities can definitely
make brands have their loyaltyprograms more relevant, engaging
(12:55):
and effective.
Speaker 1 (12:57):
For sure.
So can you talk a little bitabout what barriers brands might
be facing and achieving thatkind of real time
personalization and how they canovercome those obstacles?
Speaker 2 (13:08):
I think sort of the biggest barriers for this come
down to sort of a couple ofdifferent issues, and that's
related to data and technology.
So we work with some clients ortalk to clients that have a
wish to offer this in theseprograms, but their data is
siloed, it's sitting in alldifferent systems, so it's hard
(13:30):
to kind of stitch that togetherand actually so that you can get
that kind of complete pictureof the member base.
So this it may require aninvestment to bridge that gap or
build a unified data system.
And then secondly, legacytechnology can be a limiting
factor as well.
So an older technology stackreally can't handle, doesn't
(13:53):
have the horsepower to handlethat real-time processing or a
dynamic customer journey.
So moving to more moderncloud-based solutions or
integrating APIs can allow thatfor those real-time upgrades and
address those obstacles.
Speaker 1 (14:11):
Awesome.
Well, on the other side ofpersonalization is the emotional
connection, and one thing thatwe continue to hear about from
different brands and differentconsultants and agencies is that
personalization efforts need tofeel authentic and not invasive
to customers.
Do you have any advice for howbrands can ensure that they're
(14:34):
doing personalization in a waythat feels good and not
overwhelming or creepy?
Speaker 2 (14:39):
I was going to say creepy.
So I think transparency isreally key on this front, so
ensuring that customers knowwhat data is being collected and
why.
And it's also really really,really important as well that
customers can control theirpreferences and permissions so
they can opt in or opt out,making sure that personalized
(15:02):
offers and content are reallyvaluable to the customer.
So, again, that ties back.
It sounds really repetitive,but talking back, tying back to
that data, that data element aswell, where, where are we able
to offer members something thatreally resonates with them and
is it just kind of for themasses?
And then, lastly, I thinkfrequency of messaging is really
(15:23):
important as well.
Balance is key.
So over messaging can feelreally pushy and irritating and
causing people to opt out,whereas under messaging can
really feel disconnected.
So it's kind of getting thatbalance in figuring out how
frequently the member interactswith the program, which kind of
(15:44):
are different engagement signals, so that you can figure out
that proper balance formessaging.
Speaker 1 (15:51):
Great.
Well, another one of the thingsthat we saw in your trend
predictions for 2025 is thestrong demand for seamless,
simple, convenient shopping andfulfillment experiences.
What ways are you seeing brandsstart to simplify their
customer experience strategiesin 2025?
Speaker 2 (16:10):
Yeah.
So I mean, everybody knows theworld has changed vastly over
the past number of years andcustomer interactions stretch
across a multitude of channels.
So you've got the tactile partof a physical store right down
to the digital realms of websiteand social media, of a physical
store right down to the digitalrealms of website and social
(16:31):
media.
So creating seamlessomni-channel experiences where
there's a fluid and consistentinterconnected experience for
the customer and to gaugethrough, is really, really key.
So some of the ways that thatcan be approached is deep
integration across channels.
So integrating the physical anddigital channels so this is
(16:51):
actually to really do this well,it goes beyond linking customer
touchpoints and it's a moreholistic approach where all
aspects of the business areconnected.
So things from customer serviceto inventory management and CRM
all stitched together andshared real time.
One example of this isNordstrom.
They've made great strides inthis area.
(17:12):
So customers can check productavailability online, reserve
items, try them on in store,have online purchases delivered
to their homes, and this is alldone without redundant steps.
Going back to the data analytics, that again plays a real role
in understanding customerbehaviors, preferences, pain
points across channels.
(17:32):
So, analyzing the datacollected from those touch
points, you can identify thetrends, predict behaviors and
customize experiences, whichwill allow the brand to craft
really highly personalizedinteractions that enhance that
customer journey and drive thatfurther engagement.
And then another one, of course, is optimizing for mobile.
(17:54):
So this is a necessity now,it's really not just an option.
So the mobile app should haveintuitive navigation, really
speedy loading times andfeatures such as location
services, mobile payment options, loading times and features
such as location services,mobile payment options.
All of that stitched into thephone.
And I think we're all familiarwith one of the leaders in this
area and that's Starbucks.
(18:15):
We all get, have our I'm surehave our Starbucks app.
They're fantastic at this, soyou know the ability that they
offer to order and pay ahead,find stores, earn points, you
get all those push notifications.
So Starbucks is definitely aleader in this area.
Speaker 1 (18:30):
Awesome.
Well, you gave some greatexamples there, but for some
brands that may be a littleyounger in their journey of
creating that, what are someeasy wins brands can find to
improve their customerexperience strategy?
Speaker 2 (18:43):
I think that the top one for this Ethan is just
actively seeking andprioritizing customer feedback.
It's the best way to understandthe friction points in the
areas for improvement in theoverall customer experience.
This can be collected throughsurveys or social media.
I mean, all brands sort of havethat kind of basically set up
(19:05):
or even direct feedback with acustomer service agent.
So I think that's probably theeasiest, quickest.
When there's a wealth of datathere, customers are willing to
share it and they're the experts, they're the ones that are
using the program.
So I think that's probably oneof the easiest wins that brands
can do.
Speaker 1 (19:23):
Couldn't agree more.
Yeah, we saw that kind ofcommon theme during the
Loyalty360 awards.
At our recent Loyalty Expo,Many many of the winners shared
that same philosophy of beinglaser focused on the voice of
the customer and that customerfeedback.
So I couldn't agree more.
Speaker 2 (19:39):
I'm going to have to make sure I get to this Loyalty
360 Expo next year.
Unfortunately, I couldn't makeit this year.
Speaker 1 (19:46):
Absolutely.
You've got to come with yourteam next year yeah.
So, in our state of customerloyalty report, we saw that 72%
of brands told us they feelthere's a sense of or a sea of
sameness regarding customerloyalty programs.
Can you maybe share?
Speaker 2 (20:12):
an example of a couple of brands that are
successfully differentiatingthemselves through a unique
strategy or a campaign or areward offering.
Yeah, we recently did some workwith some consultants and this
one really stuck out for me andI think it's really unique and
that's why I wanted to share ithere.
So they talked about ritualrewards.
So you don't really hear thatoften in the space, but the
example that was used was at StRegis hotels.
(20:34):
The guests are invited toparticipate in a nightly
champagne sabering ceremony andI'm like what's champagne
sabering?
But it's where a bottle ofchampagne is opened by slicing
the top of the bottle, the cork,off, with a saber.
So those of you who watchedEmily in Paris would have seen
this season two as well.
It was, it was an activity onthere.
(20:54):
Paris would have seen thisseason two as well.
It was an activity on there.
But just a really fun, memorableritual that for St Regis that
blends sort of the history andexclusivity and kind of social
storytelling.
So I always think that was neat, just because it's really
outlandish kind of and far outthere Creates a sense of
belonging.
So they feel like they're partguests, feel like they're part
(21:14):
of a tradition.
It's that emotional connectionand it really differentiates the
experience.
You get away from sort of thetraditional levers of a loyalty
program, where it's discountsand points, and it's just
something that they're reallyimmersed in and builds that
status.
So I think that one that wasalways really stuck with me and
it's always it always gives mepause to when I think about it
(21:34):
too.
It's like really what couldbrands do if they think outside
the box?
That may not be something inperson that all brands could do,
but just kind of reallythinking outside the box on that
, I think is unique.
And then the last part.
I mean we haven't really talkeda lot about gamification, but
that's certainly coming up a lot.
I know that was some feedbackthat our team brought back from
(21:57):
Loyalty360 are the gamificationelements.
So that's been done fairly wellby some of the larger players
in the loyalty or in the space.
But I think there's someopportunities as well for
gamification, some furtheropportunities in the loyalty
space.
Speaker 1 (22:16):
Definitely.
We continue to hear that that'ssomething that people are
exploring and looking at, tryingto figure out new and exciting
ways to get people to engagethrough gamification.
So well, looking forward forthe second half of this year,
what do you see as the next bigthing in customer loyalty and
what is Cora loyalty focused on?
Speaker 2 (22:36):
as we continue through the rest of this year.
What do you see as the next bigthing in customer loyalty and
what is Cora loyalty focused onas we continue through the rest
of this year?
So, ethan, paying with pointsfunctionality remains a key
priority for us, and that's notto say I mean there are
solutions in the marketplaceright now, but we just see that
there's probably an opportunityto enhance that, do it a little
bit better, offering membersmore choice and flexibility, and
(22:59):
we know there's sort of strongdemand for this feature.
So we are investigating, we'relooking into different ways that
we can do that.
So I think that there will be alot of innovation continued to
be poured into pay with points.
But I think, rather than awholesale shift over into sort
of direct merchant integrationsor completely going all in on
(23:22):
pay with points, I think it'sgoing to be more.
We see it more as more of ahybrid approach, so that pay
with points is complementary toretaining sort of the inprogram
redemption options such as thegift cards, aspirational
merchandise.
So we see kind of a we see sortof a hybrid approach with that.
But Pay With Points isdefinitely a focus for us going
(23:44):
forward.
Speaker 1 (23:46):
Awesome.
Well, that brings us to the endof our regular questions and
we're time for our world famousquickfire questions.
Okay, so we try and keep theseto like a one word or short
phrase answer, but it's a funway for the audience to get to
know you a little bit more.
So, okay, you're ready.
We're going to jump right in.
Speaker 2 (24:04):
Yep Ready.
Speaker 1 (24:06):
How would you describe your work life?
Speaker 2 (24:08):
Every day is a new challenge.
Speaker 1 (24:10):
If you have a day or a week off from work, what are
you doing If?
Speaker 2 (24:14):
you have a day or a week off from work, what are you
doing?
Speaker 1 (24:17):
You'll find me curled up with a good book, a spy
story.
If you could live in any cityor country, where would you live
?
Speaker 2 (24:22):
Germany.
Speaker 1 (24:23):
If you could go back to school, what would you study?
Psychology.
Speaker 2 (24:33):
What facet of your job would you like to know more
about?
I love everything that I know.
I love all elements of it andalways want to learn more about
every element.
There isn't one that sticks out.
Speaker 1 (24:41):
What facet?
Speaker 2 (24:41):
of your job.
Speaker 1 (24:42):
Would you like to know less about?
Speaker 2 (24:44):
I think that goes the same.
All elements are important.
So I think nothing that I wouldlike to learn less about, know
less about.
Speaker 1 (24:53):
What motivates you when tackling challenges at Cora
?
Speaker 2 (24:57):
The freedom to come up with creative out-of-the-box
solutions.
Speaker 1 (25:01):
Awesome.
Speaker 2 (25:02):
What do you draw inspiration from?
What really lights your?
Speaker 1 (25:04):
fire.
Speaker 2 (25:06):
Reading, Reading A lot of historical fiction that I
just, I love that diving intothat.
Speaker 1 (25:14):
What is your favorite sport or hobby.
Speaker 2 (25:17):
Hockey is my favorite sport and hobby.
I'm a plant aficionado.
I love plants.
Speaker 1 (25:25):
And what do you typically think about at the end
of the day?
Speaker 2 (25:27):
Work, ethan, think about work.
Speaker 1 (25:32):
Well, Beth, thank you so much for taking the time to
speak with us today on Leadersin Customer Loyalty.
We loved having you as part ofthe Industry Voices series.
It was great getting yourperspective on customer loyalty
and we really look forward tolearning more from you and the
team at Cora throughout the restof the year, and hopefully
we'll see you with the team atthe next Loyalty Expo.
Speaker 2 (25:51):
Great Thanks for the time.
Ethan Really appreciate it.
Speaker 1 (25:54):
Thank you, and thank you everyone for tuning in to
Leaders in Customer Loyalty.
If you haven't already, pleasemake sure you subscribe to the
podcast wherever you'relistening.
Follow Loyalty360 on YouTubeand LinkedIn for all the latest
updates and join us everyTuesday for another edition of
Industry Voices.
Good afternoon and good morning.
This is Ethan Perry fromLoyalty360, welcoming you to
another edition of our Leadersin Customer Loyalty Industry
Voices series.
In these episodes, we talk tothe leading agencies, technology
partners and consultants in theworld of customer channel and
brand loyalty about all of thetechnology trends and best
(00:25):
practices that are impacting theability of brands to create
unique experiences, enhanceengagement and, most importantly
, drive customer loyalty.
Today we have the pleasure ofspeaking with Beth McCoy,
president of Cora Loyalty.
Welcome, beth.
I'm glad you joined us, beth.
Speaker 2 (00:40):
McCoy Great to be here.
Thank you, Ethan.
Speaker 1 (00:42):
Well, to start off, you know, can you introduce
yourself to our audience?
Tell us a little bit more aboutyourself and your role with
Cora and your background inloyalty.
Speaker 2 (00:50):
Yeah, thank you.
So I recently took on the roleof president of Cora Loyalty.
Cora Loyalty is a newly createdportfolio made up of three
separate companies or entitiesthat some people may be familiar
with from the loyaltymarketplace.
So RewardOps is a modernAPI-based rewards marketplace
(01:11):
and fulfillment engine forenterprise brands, fintechs and
loyalty program operators.
Carlson Marketing is the secondentity part of the core loyalty
portfolio, and CarlsonMarketing Solutions is an
enterprise grade points bankloyalty and engagement platform
serving financial institutions,travel providers and large
(01:33):
retailers.
And the third company roundingit out, third product is points
at work, and this is more in theincentive space and channel
program, so tailored foremployees and manufacturers.
So that's the technology sideof it, Ethan.
We also have a services layerwrapped around all of this with
(01:54):
a really robust data sciencesoffering digital marketing
solution and also marketplacecuration services as well, and
also marketplace curationservices as well.
So when you put all of theseelements together, you have a
comprehensive end-to-end loyaltysolution that covers pretty
much every aspect of the market.
Speaker 1 (02:12):
Amazing, wow, that's a lot of offering.
Speaker 2 (02:15):
It's newly minted, this core loyalty, so it is so
hot off the press.
In terms of my background, Ibegan my career in the airline
industry and that's where Ifirst connected with
professionals managing theairline's loyalty program.
One of them later joined aloyalty firm and hired me away
into the wild and wonderfulworld of consumer loyalty.
(02:38):
Years later, I've builtexpertise in developing
comprehensive loyalty solutionsand I've helped launch and grow
two loyalty startups and workedwith several large North
American brands, mainly in thefinancial and travel industries.
Speaker 1 (02:55):
Awesome.
Well, as part of your newlyminted group and all the amazing
stuff you guys recently did,you know released some research
on consumer card preferences andcredit card usage related to
loyalty and rewards.
Can you share a little moreabout the key findings and what
sparked the need for you guys todo this research?
Speaker 2 (03:15):
Yeah.
So we decided to do thisresearch just to better
understand the evolvinglandscape of consumer
preferences for loyalty andrewards cards, and especially in
an increasingly digital firstenvironment.
So some of the key findingsincluded were that loyalty and
rewards really do lead toinfluencing which card Americans
(03:35):
use.
We should note that this isbased in the US and I'm based in
Toronto, but this was aUS-based poll, so for 55% of
Americans, loyalty and rewardscredit card benefits are a key
factor in determining which cardis used to pay for their daily
purchases, and this is a factorthat comes into play ahead of
(03:57):
convenience and credit limit.
Secondly, nearly three quartersof Americans cite rewards
related factors, such as theability to earn redemption
options, sign up bonuses, asconsiderations when opening a
new credit card, and thiscompares to factors like
interest rates and security andfraud protection, existing
(04:18):
relationship with the user thattype of thing.
And then, lastly, earningpoints or miles on purchases is
one of the most appealing creditcard benefits to 45% of
Americans.
So those are some of the thingsthat we took away from the
Harris poll that we conductedAwesome.
Speaker 1 (04:34):
Yeah, one of the other things that we noticed in
your research, when we'relooking at it, is when making a
payment with a credit card.
I believe 55% of respondentschoose to pay with a card that
has a loyalty or rewards programattached to it.
So, for brands who might nothave their own credit card
program like, how do they ensurethat they're giving their
customers the best possibleloyalty or rewards experience?
Speaker 2 (04:58):
Yeah, I think even a lot.
Most brands probably have sometype of loyalty program,
especially the credit cardloyalty program in place, but it
might be somewhat rudimentaryor not particularly feature rich
.
So there are opportunities toexpand that and make it more
appealing to members.
So, above all, the loyaltyprogram has to be really simple
(05:21):
and straightforward.
Really simple andstraightforward.
So customers need to find iteasy to earn or redeem points
without confusion and understandwhat's going to take them to
the next status or perk.
So that ease of understandingand usability will really drive
both loyalty and engagement.
Secondly, it's important toavoid the kind of one size fits
(05:43):
all approach based on, likebroad and simplistic
segmentation.
We're all individuals andunique, so we need to account
for those differentcharacteristics and behaviors
and there are solutions outthere to offer loyalty programs
that can really deliver real andpersonal value to members,
increase satisfaction and reallymake members customers feel
(06:04):
known and seen, which overallwill improve that retention,
transaction frequency andoverall spending with the card.
And then, lastly, this oneseems kind of it seems like it
should be well known orconsidered, but make sure that
programs members are aware thatthe program exists.
It's always surprising to mewhen I hear people talk about
(06:26):
that they didn't even know theywere part of a loyalty program.
I was chatting with someonerecently who's been doing some
work with us and he was a memberof a credit union for a long
time.
Some of his financial productsthere and it wasn't until he
started talking with with thoseof us at reward ops and Carlson
that he he thought to look andhe'd been part of a loyalty
program with that credit unionfor a really long time and
(06:48):
didn't even know it.
So kind of seems like a given.
But creating that awareness,that consistent awareness of the
program, is really critical aswell.
Speaker 1 (06:59):
Amazing.
Yeah, so we know everyone lovesbenefits.
Your research backs up the factthat folks love earning points
or miles on their purchases.
But how should brands bestructuring the card benefits to
make sure that they're properlyappealing to the customers?
Speaker 2 (07:15):
Yeah, I think there's a few different considerations
in approaching this and makingsure that you've got those card
benefits that fit with yourcustomer base.
So, first off, making sure thatthe rewards categories match
how your customer base isactually spending.
So, for example, depending onthe audience, it might make
sense to offer rates on travel,for example, or higher earn
(07:41):
rates on travel.
It also really makes sense toensure that you're offering earn
on everyday expenditures suchas grocery and gas, and also
targeting some of thosecategories as well to offer
accelerated earn where yourmembers are spending.
Flexible redemption options aresort of the other end of the
(08:03):
scale.
They're really key in allowingmembers to redeem for
merchandise gift cards.
Travel we often see statementcredits or even smaller things
just such as being able toredeem your points for a coffee.
So that kind of speaks to awide range and tailors to
members.
Added perks are something elsethat can be included as card
(08:24):
benefits, and these can varyagain based on the consumer base
.
So things like exclusiveconcert or event tickets for
your travel, cards offeringairport lounge access,
charitable donations oreco-friendly perks can also
offer a different point, a pointof differentiation as well.
Speaker 1 (08:44):
Yeah, that's awesome, and so one of the things that
we hear about in terms of likemaking sure people are getting
the benefits they want is someof the challenges that brands
have around the differences inloyalty expectations across
generations.
Now that Gen Z is firmly in theworkforce and getting credit
cards and earning points, how dobrands tailor their loyalty
strategies to meet the needs ofall these different demographic
(09:06):
groups that are now in?
You know, have buying power?
Speaker 2 (09:10):
Yeah, so that was definitely a key part of the
Harris poll that we conducted,and from that we learned that
64% of baby boomers are the mostlikely to be influenced by
loyalty and rewards programs,followed by Gen X, millennials,
and then ultimately, gen Z,which you just talked about.
40% of Gen Z are influenced byloyalty and rewards programs.
(09:33):
So, in terms of looking attrends among the generations,
baby boomers prefer moretraditional programs with
discounts and tangible benefitsand sort of that in-person
contact, but they're starting tobecome more accepting of
digital methodology.
And then, as you progressthrough the different
demographics, the inclination ismore towards those that are
(09:56):
digital first and experienceoriented, with Gen Z valuing
more instant gratification.
We talked about that free coffee, earlier gamification and more
of those purpose-driven brands,but I think it's key to mention
there are some commonalitiesacross all the generations,
though, and digital engagementis definitely key for all.
(10:18):
But, as we mentioned, in-personcontact still plays a role for
some of the older customers.
Personalization there's thatword a role for some of the
older customers.
Personalization, there's thatword is critical.
So meeting the member wherethey're at, so you know, unique
experience for the youngergenerations.
And then, lastly, just thatchoice and flexibility across a
wide range of rewards andexperiences.
Speaker 1 (10:41):
Yeah so I mean you just mentioned personalization
and I know in your 2025 trendspredictions, you know you really
you predicted businesses aregoing to refocus on delivering
those tailored relationshipdriven experiences.
You know using personalizationto build trust and ensure
customers feel valued.
Do you have somerecommendations for brands who
are looking for ways to improvetheir personalization efforts?
Speaker 2 (11:04):
Yeah, I think the area to start is just around the
data and the analytics.
So loyalty program redemptionanalytics are a critical driver
of program success and customerengagement, but they're also a
crucial indicator of health ofthe program and overall member
commitment.
So leveraging that data tocreate targeted experience can
(11:27):
really boost results.
And studies show thatpersonalization can increase
program engagement by up to 40%.
So some I mean there's a myriadof ways to tackle
personalization, but some of thekey opportunities include
browse and search, history-basedrecommendations.
So this allows tailored productselections to be delivered to
(11:49):
members to keep them engaged.
Points balance, appropriateoffers so dynamic offers that
match a member's points balance,either programmatically or
through member driven choice.
Nothing more disheartening thansending an offer to a member
that isn't available to them.
Wishlist reminders are anotheropportunity.
(12:11):
So you can kind of give alittle nudge to members for
items that they've either showninterest in in the past or that
they may actually have saved intheir wishlist.
Abandoned cart recovery.
So this allows members tocomplete purchases by connecting
their points or personalizedrewards that was left in their
cart and then just creatingoffers and campaigns that align
(12:34):
with members' favoritecategories or purchase history.
We talked about that earlierand making sure that you know
where and what your members arespending on, and then you can
create offers and campaignsaround that, and then you can
create offers and campaignsaround that, so that all tapping
into all of these differentopportunities can definitely
make brands have their loyaltyprograms more relevant, engaging
(12:55):
and effective.
Speaker 1 (12:57):
For sure.
So can you talk a little bitabout what barriers brands might
be facing and achieving thatkind of real time
personalization and how they canovercome those obstacles?
Speaker 2 (13:08):
I think sort of the biggest barriers for this come
down to sort of a couple ofdifferent issues, and that's
related to data and technology.
So we work with some clients ortalk to clients that have a
wish to offer this in theseprograms, but their data is
siloed, it's sitting in alldifferent systems, so it's hard
(13:30):
to kind of stitch that togetherand actually so that you can get
that kind of complete pictureof the member base.
So this it may require aninvestment to bridge that gap or
build a unified data system.
And then secondly, legacytechnology can be a limiting
factor as well.
So an older technology stackreally can't handle, doesn't
(13:53):
have the horsepower to handlethat real-time processing or a
dynamic customer journey.
So moving to more moderncloud-based solutions or
integrating APIs can allow thatfor those real-time upgrades and
address those obstacles.
Speaker 1 (14:11):
Awesome.
Well, on the other side ofpersonalization is the emotional
connection, and one thing thatwe continue to hear about from
different brands and differentconsultants and agencies is that
personalization efforts need tofeel authentic and not invasive
to customers.
Do you have any advice for howbrands can ensure that they're
(14:34):
doing personalization in a waythat feels good and not
overwhelming or creepy?
Speaker 2 (14:39):
I was going to say creepy.
So I think transparency isreally key on this front, so
ensuring that customers knowwhat data is being collected and
why.
And it's also really really,really important as well that
customers can control theirpreferences and permissions so
they can opt in or opt out,making sure that personalized
(15:02):
offers and content are reallyvaluable to the customer.
So, again, that ties back.
It sounds really repetitive,but talking back, tying back to
that data, that data element aswell, where, where are we able
to offer members something thatreally resonates with them and
is it just kind of for themasses?
And then, lastly, I thinkfrequency of messaging is really
(15:23):
important as well.
Balance is key.
So over messaging can feelreally pushy and irritating and
causing people to opt out,whereas under messaging can
really feel disconnected.
So it's kind of getting thatbalance in figuring out how
frequently the member interactswith the program, which kind of
(15:44):
are different engagement signals, so that you can figure out
that proper balance formessaging.
Speaker 1 (15:51):
Great.
Well, another one of the thingsthat we saw in your trend
predictions for 2025 is thestrong demand for seamless,
simple, convenient shopping andfulfillment experiences.
What ways are you seeing brandsstart to simplify their
customer experience strategiesin 2025?
Speaker 2 (16:10):
Yeah.
So I mean, everybody knows theworld has changed vastly over
the past number of years andcustomer interactions stretch
across a multitude of channels.
So you've got the tactile partof a physical store right down
to the digital realms of websiteand social media, of a physical
store right down to the digitalrealms of website and social
(16:31):
media.
So creating seamlessomni-channel experiences where
there's a fluid and consistentinterconnected experience for
the customer and to gaugethrough, is really, really key.
So some of the ways that thatcan be approached is deep
integration across channels.
So integrating the physical anddigital channels so this is
(16:51):
actually to really do this well,it goes beyond linking customer
touchpoints and it's a moreholistic approach where all
aspects of the business areconnected.
So things from customer serviceto inventory management and CRM
all stitched together andshared real time.
One example of this isNordstrom.
They've made great strides inthis area.
(17:12):
So customers can check productavailability online, reserve
items, try them on in store,have online purchases delivered
to their homes, and this is alldone without redundant steps.
Going back to the data analytics, that again plays a real role
in understanding customerbehaviors, preferences, pain
points across channels.
(17:32):
So, analyzing the datacollected from those touch
points, you can identify thetrends, predict behaviors and
customize experiences, whichwill allow the brand to craft
really highly personalizedinteractions that enhance that
customer journey and drive thatfurther engagement.
And then another one, of course, is optimizing for mobile.
(17:54):
So this is a necessity now,it's really not just an option.
So the mobile app should haveintuitive navigation, really
speedy loading times andfeatures such as location
services, mobile payment options, loading times and features
such as location services,mobile payment options.
All of that stitched into thephone.
And I think we're all familiarwith one of the leaders in this
area and that's Starbucks.
(18:15):
We all get, have our I'm surehave our Starbucks app.
They're fantastic at this, soyou know the ability that they
offer to order and pay ahead,find stores, earn points, you
get all those push notifications.
So Starbucks is definitely aleader in this area.
Speaker 1 (18:30):
Awesome.
Well, you gave some greatexamples there, but for some
brands that may be a littleyounger in their journey of
creating that, what are someeasy wins brands can find to
improve their customerexperience strategy?
Speaker 2 (18:43):
I think that the top one for this Ethan is just
actively seeking andprioritizing customer feedback.
It's the best way to understandthe friction points in the
areas for improvement in theoverall customer experience.
This can be collected throughsurveys or social media.
I mean, all brands sort of havethat kind of basically set up
(19:05):
or even direct feedback with acustomer service agent.
So I think that's probably theeasiest, quickest.
When there's a wealth of datathere, customers are willing to
share it and they're the experts, they're the ones that are
using the program.
So I think that's probably oneof the easiest wins that brands
can do.
Speaker 1 (19:23):
Couldn't agree more.
Yeah, we saw that kind ofcommon theme during the
Loyalty360 awards.
At our recent Loyalty Expo,Many many of the winners shared
that same philosophy of beinglaser focused on the voice of
the customer and that customerfeedback.
So I couldn't agree more.
Speaker 2 (19:39):
I'm going to have to make sure I get to this Loyalty
360 Expo next year.
Unfortunately, I couldn't makeit this year.
Speaker 1 (19:46):
Absolutely.
You've got to come with yourteam next year yeah.
So, in our state of customerloyalty report, we saw that 72%
of brands told us they feelthere's a sense of or a sea of
sameness regarding customerloyalty programs.
Can you maybe share?
Speaker 2 (20:12):
an example of a couple of brands that are
successfully differentiatingthemselves through a unique
strategy or a campaign or areward offering.
Yeah, we recently did some workwith some consultants and this
one really stuck out for me andI think it's really unique and
that's why I wanted to share ithere.
So they talked about ritualrewards.
So you don't really hear thatoften in the space, but the
example that was used was at StRegis hotels.
(20:34):
The guests are invited toparticipate in a nightly
champagne sabering ceremony andI'm like what's champagne
sabering?
But it's where a bottle ofchampagne is opened by slicing
the top of the bottle, the cork,off, with a saber.
So those of you who watchedEmily in Paris would have seen
this season two as well.
It was, it was an activity onthere.
(20:54):
Paris would have seen thisseason two as well.
It was an activity on there.
But just a really fun, memorableritual that for St Regis that
blends sort of the history andexclusivity and kind of social
storytelling.
So I always think that was neat, just because it's really
outlandish kind of and far outthere Creates a sense of
belonging.
So they feel like they're partguests, feel like they're part
(21:14):
of a tradition.
It's that emotional connectionand it really differentiates the
experience.
You get away from sort of thetraditional levers of a loyalty
program, where it's discountsand points, and it's just
something that they're reallyimmersed in and builds that
status.
So I think that one that wasalways really stuck with me and
it's always it always gives mepause to when I think about it
(21:34):
too.
It's like really what couldbrands do if they think outside
the box?
That may not be something inperson that all brands could do,
but just kind of reallythinking outside the box on that
, I think is unique.
And then the last part.
I mean we haven't really talkeda lot about gamification, but
that's certainly coming up a lot.
I know that was some feedbackthat our team brought back from
(21:57):
Loyalty360 are the gamificationelements.
So that's been done fairly wellby some of the larger players
in the loyalty or in the space.
But I think there's someopportunities as well for
gamification, some furtheropportunities in the loyalty
space.
Speaker 1 (22:16):
Definitely.
We continue to hear that that'ssomething that people are
exploring and looking at, tryingto figure out new and exciting
ways to get people to engagethrough gamification.
So well, looking forward forthe second half of this year,
what do you see as the next bigthing in customer loyalty and
what is Cora loyalty focused on?
Speaker 2 (22:36):
as we continue through the rest of this year.
What do you see as the next bigthing in customer loyalty and
what is Cora loyalty focused onas we continue through the rest
of this year?
So, ethan, paying with pointsfunctionality remains a key
priority for us, and that's notto say I mean there are
solutions in the marketplaceright now, but we just see that
there's probably an opportunityto enhance that, do it a little
bit better, offering membersmore choice and flexibility, and
(22:59):
we know there's sort of strongdemand for this feature.
So we are investigating, we'relooking into different ways that
we can do that.
So I think that there will be alot of innovation continued to
be poured into pay with points.
But I think, rather than awholesale shift over into sort
of direct merchant integrationsor completely going all in on
(23:22):
pay with points, I think it'sgoing to be more.
We see it more as more of ahybrid approach, so that pay
with points is complementary toretaining sort of the inprogram
redemption options such as thegift cards, aspirational
merchandise.
So we see kind of a we see sortof a hybrid approach with that.
But Pay With Points isdefinitely a focus for us going
(23:44):
forward.
Speaker 1 (23:46):
Awesome.
Well, that brings us to the endof our regular questions and
we're time for our world famousquickfire questions.
Okay, so we try and keep theseto like a one word or short
phrase answer, but it's a funway for the audience to get to
know you a little bit more.
So, okay, you're ready.
We're going to jump right in.
Speaker 2 (24:04):
Yep Ready.
Speaker 1 (24:06):
How would you describe your work life?
Speaker 2 (24:08):
Every day is a new challenge.
Speaker 1 (24:10):
If you have a day or a week off from work, what are
you doing If?
Speaker 2 (24:14):
you have a day or a week off from work, what are you
doing?
Speaker 1 (24:17):
You'll find me curled up with a good book, a spy
story.
If you could live in any cityor country, where would you live
?
Speaker 2 (24:22):
Germany.
Speaker 1 (24:23):
If you could go back to school, what would you study?
Psychology.
Speaker 2 (24:33):
What facet of your job would you like to know more
about?
I love everything that I know.
I love all elements of it andalways want to learn more about
every element.
There isn't one that sticks out.
Speaker 1 (24:41):
What facet?
Speaker 2 (24:41):
of your job.
Speaker 1 (24:42):
Would you like to know less about?
Speaker 2 (24:44):
I think that goes the same.
All elements are important.
So I think nothing that I wouldlike to learn less about, know
less about.
Speaker 1 (24:53):
What motivates you when tackling challenges at Cora
?
Speaker 2 (24:57):
The freedom to come up with creative out-of-the-box
solutions.
Speaker 1 (25:01):
Awesome.
Speaker 2 (25:02):
What do you draw inspiration from?
What really lights your?
Speaker 1 (25:04):
fire.
Speaker 2 (25:06):
Reading, Reading A lot of historical fiction that I
just, I love that diving intothat.
Speaker 1 (25:14):
What is your favorite sport or hobby.
Speaker 2 (25:17):
Hockey is my favorite sport and hobby.
I'm a plant aficionado.
I love plants.
Speaker 1 (25:25):
And what do you typically think about at the end
of the day?
Speaker 2 (25:27):
Work, ethan, think about work.
Speaker 1 (25:32):
Well, Beth, thank you so much for taking the time to
speak with us today on Leadersin Customer Loyalty.
We loved having you as part ofthe Industry Voices series.
It was great getting yourperspective on customer loyalty
and we really look forward tolearning more from you and the
team at Cora throughout the restof the year, and hopefully
we'll see you with the team atthe next Loyalty Expo.
Speaker 2 (25:51):
Great Thanks for the time.
Ethan Really appreciate it.
Speaker 1 (25:54):
Thank you, and thank you everyone for tuning in to
Leaders in Customer Loyalty.
If you haven't already, pleasemake sure you subscribe to the
podcast wherever you'relistening.
Follow Loyalty360 on YouTubeand LinkedIn for all the latest
updates and join us everyTuesday for another edition of
Industry Voices.
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