Do you understand your customer’s needs and how to satisfy them, at the right time? Alex Saul, an expert and consultant with 25 years of experience in customer loyalty, joins the podcast to talk about loyalty. He distills the essence of any effective loyalty program – hint: it centers around the customer – as well as ways that loyalty programs can help brands meet their strategic objectives, including monetization. You’ll learn how variable rewards can increase user engagement, how retail media can generate revenue, and how loyalty programs can help change user behavior, track omnichannel traffic, and bring valuable customer insights.
Questions Alex Answered in this Episode:
- What experience was most important to your career?
- How do you go about understanding what a customer’s needs are?
- How have you seen the way loyalty brands view monetization change?
- What are variable rewards?
- What monetization strategies do you see work well in addition to variable rewards?
Timestamp:
- 2:00 Alex’s background
- 5:43 Challenges in the loyalty industry
- 7:55 Learning the true meaning of loyalty
- 10:05 Understanding the customer
- 12:00 The science behind loyalty
- 14:30 How loyalty can support monetization
- 18:00 Variable rewards
- 23:35 What is retail media?
- 25:23 How loyalty can help brands track omnichannel traffic
- 28:37 Responsible retail media
- 31:45 Consumer insights help monetization
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