))
Breaking Loyalty - Part 1: Unraveling the Loyalty Crisis
Manage episode 442994135 series 3481684
Content provided by mike giambattista and Mike giambattista. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by mike giambattista and Mike giambattista or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
What if the loyalty programs you rely on are actually failing you? Join me and loyalty expert Mike Ribero, the architect behind Continental OnePass and Hilton Honors, as we uncover the troubling realities facing the loyalty industry in our first installment of "Breaking Loyalty." With member satisfaction plummeting below 50% and a tidal wave of negative social media sentiment, it's clear that something is seriously amiss. We dive into the financial conundrum where U.S. businesses spend nearly $80 billion annually on loyalty programs while grappling with a staggering $125 to $150 billion in unredeemed points and miles.
Discover the root causes of these issues as we dissect the evolution—or stagnation—of loyalty programs across travel, retail, and dining sectors. We highlight the critical missteps brands have taken by neglecting both the rational and emotional needs of their consumers. Mike and I stress the importance of continuous improvement and the reciprocal nature of personal relationships in fostering genuine loyalty. We also discuss the adverse impact of reduced human interaction due to technology. Tune in for actionable insights and practical solutions designed to rejuvenate and transform loyalty programs for better customer retention and satisfaction.
Chapters
1. Fixing Loyalty in Modern Business (00:00:00)
2. Rethinking Loyalty Programs in Business (00:13:15)
3. Breaking Customer-Brand Loyalty Solutions (00:30:23)
99 episodes
Share
