When speaking with brands on loyalty program strategy, it’s clear companies know they should be gaining consumer insight and personalizing the user experience, but there is often a barrier of hesitation to openly treat customers differently. This hesitancy is rooted in the fear of ostracizing a portion of their consumers who are deemed “less valuable”. Why can’t we simply strive to provide every customer the same high-end treatment that they deserve? Well, because they don’t deserve it.
For the past decade, I’ve been an entrepreneur running creative agencies who never planned to work at corporate again, until last fall when it seemed the perfect time to work at corporate again.
Have you ever been concerned that competitors have been diligently measuring the ROI on their employee reward and recognition programs, while your company hasn’t?
With the ever-increasing pace of change, organizations are not only under pressure to perform and transform, but they also face increased competition from all directions as they do it. And that doesn’t even include leadership changes, M&A activity, reorganizations or any number of typical crises that surface from time to time. Any of these pressures can result in bad behaviors and disengaged employees driving down performance, increasing turnover rates and eroding financial performance.