It’s common knowledge that if leadership endorse a program, the rest of the organisation will want to see the value and be ambassadors for it, ultimately having a positive affect on customer retention and engagement. There are practical ways and advice for loyalty practitioners to embed loyalty fully into their organisation. But it’s getting leadership buy in that is the challenge. Andrew, also an advisor to Richard Branson, talks to Donna and a live virtual audience about the best ways to accomplish this, drawing on his own experiences and knowing the C-suite mindset.
“There’s also a significant cost saving in the way businesses can operate if it’s got a healthy, engaged base that is much cheaper to communicate with.”
“Rather than just being obsessed by short term profits from monetizing the program. Don’t, put more important measures in for long term loyalty.”
“I think one of the limiting factors that I’ve experienced is that boards often think of loyalty programs as a cost center or risk.”
“if you get your elevator pitch right upfront, you’re much more likely to get this thing through.”
“We also removed internal competitive tension. By partnering with Virgin Atlantic at the very beginning rather than creating a virgin loyalty program that competed with.”
“It’s complex data and the more simple you can keep it. For the board and the C suite the better.”
“By reducing churn and by also not wasting huge amounts of marketing on customers who are already loyal. If you can demonstrate that, that’s a very easy way to show financial benefit.”
“We’ve been very lucky in in virgin red. In that we had complete support from Richard Branson and the family.”
