00:00:00
Number one, the loyalty program lets you
00:00:02
tag and track customers in a way that
00:00:04
you might not get just through their
00:00:06
transactions alone. So just better data
00:00:08
that could justify the cost, the
00:00:10
overhead of the loyalty program right
00:00:11
there. Number two, being able to deepen
00:00:14
relationships with customers, get them
00:00:16
to buy a little bit more, engage a
00:00:17
little bit more, do stuff that they
00:00:19
wouldn't do otherwise. And number three,
00:00:21
it gives companies some tactics, some
00:00:24
leverage to be able to treat different
00:00:26
customers differently, which is
00:00:28
certainly a big deal in all my work on
00:00:30
customer centricity. So, not to say that
00:00:32
loyalty programs are essential, but they
00:00:34
have to be seriously considered by any
00:00:37
company that wants to be
00:00:38
customercentric.
00:00:39
[Music]
