Truth’s CEO, Amanda Cromhout, shares her view on loyalty programmes with Bruce Whitfield on The Money Show, 567 CapeTalk & Talk Radio 702.
Bruce Whitfield, known to challenge the status quo on business topics and who openly admits he is cynical about loyalty programmes, has asked Amanda to give her view and expert opinion on loyalty and how to get the most out of loyalty programmes.
According to Amanda, the core purpose why brands would invest in loyalty programmes is to be able to gather information about their customers and, in return for providing certain information, they reward their customers with either points, discounts, vouchers or member-only benefits.
Bruce’s sentiment is, that unfortunately, there are a few loyalty programmes who fail to match this simple equation of give and take. We see this too often, where brands will offer a loyalty programme in order to gather customer data but give little to nothing back to their customers, let alone engage their customers at all and making no relevant use of the data the customer has provided. Brands also have the tendency to make the loyalty programmes far too complicated for their members to ever gain any real value from the programme making the entire loyalty journey unattainable & invaluable.
However, we, at Truth believe there are some great loyalty programmes that get this equation right. They communicate regularly about relevant offers at the right time because they understand the data and therefore understand their customers. Some brands also communicate the benefits of their programme in a simple, easy to grasp manner, allowing the average man on the street to fully understand the ins & outs of the loyalty programme and to gain maximum return from participating in the programme.
In the podcast provided below, Amanda & Bruce explore brands that do this well and unpack how to get the most out of your loyalty programmes.
If you missed the live interview last week, listen to the podcast on sound cloud, here
