Paula: Welcome to Let’s Talk Loyalty, an industry podcast for loyalty marketing professionals. I’m your host, Paula Thomas, and if you work in loyalty marketing, join me every week to learn the latest ideas from loyalty specialists around the world.
Paula: Hello and welcome to today’s episode of Let’s Talk Loyalty and Loyalty TV. Today’s episode is a long overdue catch up with the Livelo loyalty program that we last spoke to back in August 2021. Livelo is the largest loyalty program in Brazil with more than 47 million members, 400 partners and over a million rewards available. Whether in the physical or digital world, Livelo offers countless possibilities to both earn and burn points, which can be exchanged for products, services, trips, experiences and payments via the country’s incredible PIX platform and even cashback.
We’re joined again by Daniel Pagano, Chief Marketing and Operations Officer, and he shares Livelo’s latest propositions and performance, as well as some global recognition they’ve been awarded recently. I hope you enjoy our conversation.
Paula: So Daniel, welcome back to Let’s Talk Loyalty and for the first time on Loyalty TV. That’s a great pleasure. That’s an honor to be here. Especially, you know, on TV now, it’s much better to be able to, you know, talk, while seeing you.
Daniel: Honestly, I feel like a bit of a rock star when I come to the studio and we get all the hair and makeup done and we’ve got all the pretty lights. So, definitely we’re, we’re, we’re taking our content to the next level, Daniel. So it is a long overdue conversation to, to catch up on everything you’ve been doing with Livelo. You certainly have not been sitting around, quietly. There’s a lot to talk about, which is amazing.
So let’s kick off with our usual opening question before we get into any of that. As you know, now we always love to ask our guests first and foremost, what is your favorite loyalty program?
Daniel: Sure. So again, Paula, honor to be talking to you. And I love this question. I always love your opening questions, by the way. I like talk about Starbucks, actually. I need to talk about Starbucks. I mean, I, I think that they, they have a great loyalty program for some reasons.
One of them relates to something that we have been, you know, pursuing here at Livelo, which is the efforts towards personalization. They have been doing a lot of efforts towards that to be relevant, to really be able to offer to each individual customer what’s really relevant for that particular customer, and also listening to customers so that they can provide benefits and offers on the loyalty program that really resonates to what the customers value.
So I think that they have been doing a great job on that is really a reference for us. So I will talk about, I will refer to Starbucks as my preferred one.
Paula: Amazing. Yeah. There’s so many reasons to admire Starbucks, Daniel. You’re absolutely right and yeah, the value proposition for consumers is always way ahead.
I also like their kind of spirit of innovation, I know they had the Odyssey program actually, which I think was an NFT trial, which didn’t continue for very long, but I like the fact that they do kind of put some kind of, you know, ideas and resources and obviously invest into what might resonate, with new audiences in terms of new technologies.
And for me, the most cool thing that they do is in the payment space. And I know that’s close to your heart as well, Daniel.
Daniel: Absolutely.
Paula: In terms of what you’ve been doing. Yeah. So, and actually it’s the answer we get most frequently when we talk to people on the show. So you’re certainly not alone.
Daniel: It looks like I’m really doing a good job in this sense.
Paula: Totally. Totally. Who could fault them? So listen, let’s get into, Livelo since we last spoke, Daniel, from what my research shows in terms of the three years since we spoke, your growth has been unbelievable off the charts, as we say in Ireland. I don’t want to steal any of your thunder. What can you share with our audience in terms of your scale and growth, since we last spoke?
Daniel: Absolutely. Wonderful. Yes. I mean, we have been experiencing a lot of, growth, fortunately, with some, activities that have been pursuing here. So right now, Livelo has about 47 million, clients in its, in its database. We have been growing, In terms of number of people redeeming, you know, goods and services in our, in our program, as our people are accumulating, we are talking about engagement, right?
So we’re talking about the, as I used to say here, the wheel of accumulating and redeeming, you know, speeding as fast as possible around the life of the client. So we, in terms of numbers, By the time we spoke, if I’m not mistaken, we were in about 250 million net profit. Last year we made 1.5 billion net profit in, this is Brazilian currency, but gives a perspective, you know, on multiplying by four, the net profit where have been able to achieve, you know, going from, I went from the, the database to the, to the net profit, you know, directly.
But I’m going to talk about some of the KPIs in the middle of it, but have been very successful, over the last years.
Paula: Oh my God. Yes.
Daniel: And some of the things that we’ve been doing, Paula relates to really be present, you know, be on a daily basis on each and every thing to the client. Yes. Right. For being able to think, Oh, I can get points, if I, you know, do what Cleveland is telling me to do regarding one specific need or one purchase I want to do. And whoa, I can redeem a lot of things in my daily basis as well in my day to day activities with the points that I have with Cleveland.
Paula: Yeah.
Daniel: So, you know, having some things in this, in this arena to be able to be 24 seven in the mind of the client.
Paula: Amazing. Well, I’m sure everybody listening would absolutely love a fourfold growth. So huge congratulations, Daniel. That really is an extraordinary number. And Brazil is a market. I mean, I was blown away when I did briefly visit last year and sadly we didn’t get to meet in person, although we tried. But Livelo is one that everybody looks to as a certainly a market leader. So I’m not surprised to hear that it’s growing so exponentially.
So I’d love to understand some of the, new propositions that you’ve added in for your members. 47 million, again, a huge number. I love the breadth of the proposition, but the first one I really wanted to, share with our audience is the PIx proposition, because I know this is unique. As far as I know, actually, I’m thinking it’s unique to the Brazilian market. I do love the fact that the Central Bank of Brazil, is, is a really powerful advocate of this.
So would you mind just for the sake of our guests, global audience. Just explaining what is PIX and how is Livelo working with this PIX technology to achieve such extraordinary results?
Daniel: Absolutely. No, that’s a, that’s a great, a great point. I mean, I’m going to give a little bit of background before going to the specifics of this offering. Livelo, Livelo is a, is a company that just in June, made eight years of existence, right? So a fairly new company. And we were born 100 percent digital. So everything that we would do would be in the digital space.
So, people would be able to accumulate points, you know, using credit cards, you know, on our partners, on our websites, and would be able to redeem goods and services also on the internet, right? So I said, okay, there’s not enough. We need to be also in the physical world.
And I remember a report back in 2019 that there’s, that, that was really a big trend. I mean, large companies needs to, to be ubiquitous, need to be both the online, on the offline, both so that you can really provide value. And we were actually trying to find a way to get there to really allow people to use in everywhere develop points.
Now that gets back to the, to the PIX solution. The PIX is, I mean that the Brazilian government created so that people can very easily make purchases, make money transfer sense using a sort of a, using a QR code right in the, in the point of sale that takes money directly from the bank account of that person to that, destination. Be it, you know, another person’s, bank account or a corporate, bank account.
So it’s actually something very similar to a credit card, but very, very seamless, very simple and absolutely ubiquitous, you know, in, in the, in the financial infrastructure let’s put it this way in Brazil. What it did was we actually, piggybacked on PIX as a technology to be able to make our points become money in the point of sale, in each and every point of sale that would accept PIX.
And I’m talking about millions and millions because it was a structural, development of the Brazilian financial system, right? We use it as a, as a mean to allow people to, let’s suppose I have 2000 points, right? To make that 2000 points become money, to have a coffee on a bakery or in a coffee shop, you know, to have the nails done, to buy a tire, you know, anything we start talking about anything.
So we, from one day to another made the developer solution become absolutely spread out, in the physical world, but also on the online world, if you would like to use PIX in the online world as well, to translate points into anything. So we used to talk about, you know, hundreds, a hundred thousands of SKUs or possibilities to redeem developer points.
When we launched the PIX solution, completely, you know, a company that would have countless of possibilities to use reading points. So that was actually a very important step for us. It’s about pointly value everywhere for anything, right? And we have done some other solutions on that to expand the ecosystem.
But that is, that is one that actually, and to be quite honest with you, we are still, I believe, in the beginning of the exploration, the proper exploration of the possibilities that this brings to us. We understand we have a lot of work to do to explain to people, you know, that this can be, that this can be used. And to make sure that they have what is really important for, for them to be able to choose this possibility, which is the value add. So we need to make sure that the Livelo app is in the hands of everybody so that they can use the app to be able to use the PIX solution. But, you know, it was, something that, took us to another level regarding presence.
Paula: It’s, it’s an absolutely astronomical story, Daniel. And thank you for explaining it in layman’s terms, because, at I think the audience knows I’m definitely not very technical, particularly when it comes to payments infrastructure.
I love the fact that I could use my Livelo points as you said, to pay my sister if I owe her for a coffee, or that level of liquidity and flexibility is what everybody is looking for so many years.
Daniel: Yeah. I mean we need to be where the customer wants us to be, right. We need to make sure that we provide solutions, and we direct behavior, in a way that is, aligned to what the customers want to do with what’s good for them, right. You need to always be thinking in the shoes of the customer. This is absolutely paramount for us. So, yeah. So I think that’s a great, great possibility for us to, again, surf the wave of, those kind of innovations, to the benefit of our customers and to our benefits.
Paula: A hundred percent. Yeah. It’s just unbelievable, how powerful it’s obviously being.
Daniel: Yeah. I mean, it is. And again, I mean, there is, there are some benefits that, credit card insurers, you know, and acquirers provide as well to merchants. And so that’s, that’s the, the sort of, balance that’s going on right now. So, right. So kind of those competing payment means, right.
Paula: Of course.
Daniel: So the thing is, the most we need to be actually, and I love the quote, What you mentioned about innovation, right? In the, in the very beginning of our conversation, again, relating to, to our preferred, you know, loyalty program. We need to be testing, need to be, testing new things that we can provide, but also you need to be very you know, tentative to what’s going on in the market so that we can, use, innovations that are being, you know, created and developed in the market, for our benefit and again, for the benefit of the client.
One example of this, and this is, this is actually one that I like very much, and I’m going to jump to one thing, Paula, if you, if you allow me that made us very proud. One of the things that, one of the things that we have been doing here is to try to use Livelo as a way to direct behavior not necessarily linked to a commercial transaction, right? So we know the power, the points you have been, you know, seeing in other programs in the world, like Payback, for example, you know, but just to mention one, but others, the points I used to direct people towards a certain behavior, right?
So for example, you have points, you get points. If you, for example, take a certain, training session, right? learning sessions, something like this. How can we use this for, you know, be more present on this, on this, possibility of usage and how can actually make Livelo beneficial for our customers in our systems in that regard, for B2B, B2C, initiatives.
So we did something with Volkswagen here in Brazil. It was quite remarkable. Volkswagen found out that the, one of the main reasons of, truck accidents or road accidents in Brazil related to truck drivers that didn’t get enough sleep. And the reason they didn’t get enough sleep was that they wanted to make more money. So they wanted to make more money so they would not rest, you know, the amount of time that was required.
So what Volkswagen and us did was they created an app, linked to a smartwatch that monitor the amount of hours that the truck driver would sleep right. In order to provide incentives for the truck driver to sleep, the correct number of hours, they said, Okay, we’re going to monitor and you’re going to get a reward for each hour that you sleep. And the reward is Livelo points. So they get points by literally sleeping. So now you can see they get points for essentially everything, including sleeping, right? So that’s actually in the pilot phase and it’s very good because they get, it is a way to provide incentives for a certain behavior that to make is beneficial for the whole ecosystem, for the individual, for all the people driving, you know, for, for the whole society.
So it’s actually using Livelo points to incentive behavior in a way that’s not related directly to a transact, to a, to a transactional, to, to, to a commercial transaction. Right. But it shows the powerful, the, the, the powerful or the power, I’m sorry, that we have to actually, you know, incentive behavior much beyond what we have been, seeing so far. So we’re very proud for, for that particular partnership with Volkswagen is in the pilot phase.
But I, I need to tell you, we’re very proud because this project was submitted to Cannes Lions and we were awarded, two bronze lions with that idea. So talking about innovation, talking about different fugitives, just talking about partnering with people, with companies that are doing nice things, you know, interesting things, innovative things. That’s how the thing started.
We actually were invited by Volkswagen by our agency. Our map was, was the agency that made the bridge between us. We jumped to innovation that we thought, that’s cool. That’s really, you know, relate, that really relates and is aligned to our purpose, what we do. Let’s go for it. And that’s the preliminary results. So again, having an eye and open, you know, open mind to innovation brings a lot of possibilities, right?
Paula: Oh my God, it really does Daniel. And, and, and, you know, jokingly, I was kind of thinking, I wonder, can I pretend to be a truck driver and just get points for sleeping? I mean, that’s just a brilliant idea.
And I do have a question on that, but before I do, I mean, if anybody listening is not aware of the Lions Awards that, that take place in Cannes every year, It is literally the Oscars of marketing. It is an extraordinary event. It takes place in the South of France, a week after the, the Cannes Film Festival. So it is full of glamour. The biggest agencies in the world go there. The biggest personalities, industries and ideas go there. And for me, it’s absolutely on my, like, it’s on a vision board, honestly, Daniel, that I want to win somehow by some association a Cannes Lions award. So congratulations. That’s an extraordinary achievement. Well done.
Daniel: Thank you. Thank you so much. And just for you to have an idea, we are very proud. As you just said, it’s the Oscar. I mean, there’s no, there’s no other way to, to say it. So yeah, it’s aspirational in this, in this, in this aspect. I mean, it’s interesting that in addition to, you know, a great idea, you were looking for great results, right?
Paula: Yeah.
Daniel: Results right impactful ideas. This particular one is in a pilot phase, but we are right now, and there’s no problem from you saying that. We’re in conversations with, entities that monitor road safety. Because they were so interested in that they, they want to, they were so keen on that they want to, to find a way to make that available, not to only, you know, Volkswagen trucks, drivers, but also to all drivers that, you know, somehow can participate on that and provide a larger, you know, benefits to the whole, to the whole society.
So this is really rewarding. This is really, you know, the few, the few. feeling of accomplishment in this particular case, you know, provide a benefit to society. It’s really, really good.
Paula: Yeah. Well, it’s funny, Daniel, and I’m sure you’ve looked at it already, but just in case either you or our audience are not aware of it. When I’m asked about my favorite loyalty program, I always talk about a South African company called a Discovery, and they have a number of different programs. The most famous is called Vitality, and that’s about driving personal behavior, healthy behavior, fitness, et cetera and that’s been running for 25 odd years. It’s, it’s unbelievably successful, a subscription based program.
But they also have a program as now a bank, which I think is about three or four years old, which also measures and monitors, you know, good financial health and behaving in ways that are again, living within your means for example, but they also, I believe have a driving program. So if you haven’t checked it out already, again, with the partners that you’re talking to, there are again, every, it’s in everybody’s interests for the roads to be a safer place.
Daniel: Absolutely.
Paula: And if we as loyalty, you know, profession can guide that behavior, as you’ve said in a non transactional way, Daniel why wouldn’t we? So we’ll make sure to link to that in our show notes in case anybody wants to check it out. But, brilliant to hear that.
And one question that sprung to mind, Daniel, it’s incredible, of course, that Volkswagen are funding this. It sounds like a CSR initiative as in, you know, essentially, you know, for the greater good rather than no commercial agenda. Is it fair to say that they are doing this for, you know, good PR to be a good corporate citizen? Is that their kind of motivation, would you say?
Daniel: I would say, I would say so. By, you know, I’m going to talk a little bit about what I’ve heard. You know, that’s something that certainly they would be able to talk about this. But the thing is, by what we, we discussed, yes. I mean, of course there is a deliberate goal of providing benefits to a community in which they are inserted, you know, So, of course, I mean, when, when the exercise that they are funding, that they are exercising responsibility, and also promote an image of Volkswagen, carry about, you know, truck driver.
So of course that will resonate as well in terms of positive attributes to the brand that we ultimately drive you know, benefits, financial benefits on that. I believe so. Right.
Paula: Okay.
Daniel: But, you know, everything, everything’s connected. I would say that social responsibility is not something that you’re doing the extra hours, right? Not something that you’ll do detached to your business. So they are doing something that is very attached to the business. While also, and, or, in other words, by consequence providing benefits to the business ultimately, not necessarily something that you see on the, on the very next day, but something that we collect, you know, afterwards, if you are consistent to do so.
So yes, I believe it’s corporate social responsibility, very, very linked to their strategy or, or, and what they do. It’s not a philanthropy, you know, that is detached, something that’s done aside. So yes, I would say so. And for us that resonated with the same, with the same feeling or purpose as well.
Paula: Yeah. Yeah, absolutely brilliant. So from the partnership with Volkswagen, the Cannes Lions Awards, even at the pilot stage, I know the other branch you mentioned to me that you’ve been working with is Amazon in Brazil.
Daniel: Yes. Yes.
Paula: So, please tell our audience, what are you doing with Amazon?
Daniel: Sure, you know, so we have been expanding our ecosystem, right? So, and, and just to give you some numbers and I’m going to talk about Amazon specifically.
We have, we have been observing a very big growth in number of customers that, redeem services and goods on a monthly basis on our, on our base, right? We have been growing, in a comp, in a comparison year over year in about 60 to 70%.
So it’s about 60 or 70 percent more customers giving goods or services year over year in our, in our ecosystem. So this is because we expand our ecosystems and this is growing as you, as you can see by the numbers. I mean, this grows, much faster than the growth of the base itself, which means we’re able to, somehow make our bases more active, month by month.
And that’s essential for when you are a loyalty company, right? Talking about KPIs, talking about growth. So we have been expanding our ecosystem and it’s about partnerships. It’s about, cooperation plus competition, right? Its competition, right? And, but Amazon is a great partner for us. We’re both accumulating points and redeeming points.
And then what was something that was really important for us was we, made a partnership with Amazon that initially, our clients would be able to get points by purchasing with Amazon via Livelo. So it would be a channel or relevant channel for Amazon.
And then the second step, we inaugurated the shop with points possibility with Amazon in Brazil, right? So they have that in other countries, in other places in the world. But right now, when you go to Amazon, one of the possibilities in the checkout is pay with Livelo points. So Livelo Points are immediately, converted to money. And you can make, you know, can pay a hundred percent, or, you know, partially pay your purchase with little points.
So that was, was very big. I mean, the acceptance was really, really big, grew quite a lot in the, in the first month. So it, it had, it was launched, and it’s actually right now, if you, if you consider, you know, the number of possibilities, that we have similar to that one, which actually converts, the value to, to my, there are some others. We’re talking about more than 1 million transactions, you know, in the first, the first month. So it’s actually something that had been resonated quite a lot with our audience.
Paula: That’s unbelievable. My God, a million transactions in a month. That’s, that’s unbelievable.
Daniel: That’s really good. If you consider the whole year.
Paula: Yeah. Yeah. What was just striking me, Daniel, as you were talking about that is, you know, when I think about the, the origins of loyalty, particularly, I suppose, where I came from in the travel space, you know, it was always like that the ultimate, you know, goal of every member was, was always connected to like an airline, free flight or an upgrade, like, you know, it really had such solid beginnings in the travel space. What you’ve done is take it into a whole other realm of everyday relevance, where, you know, absolutely, I’m sure I can, you know, avail of travel benefits if I save and if I want to have that kind of behavior.
But particularly with younger demographics, I think we all know it’s all about instant gratification. And with the cost of living crisis in so many countries, countries. I’m sure Brazil is no different. If you can make the currency really, really liquid and usable, then of course that virtuous circle, as you described it like a wheel, I think that’s a great, great term for it.
I mean, it’s just like that, that win, win, win that for me certainly was the reason I fell in love with loyalty in the first place.
Daniel: You definitely nailed it. I mean, the thing is when you talk about traveling, which is something that, you know, everybody or the majority of the people want to, you know, want to travel, want to you know use, aspirationally, you know, the points to traveling actually is the very origin of the loyalty programs. But many people, you know, are not able to, to do it because you’re not able to accumulate points, in a way that we will allow them to travel.
But not only that, I mean, some people say, okay, you know, I want to travel, but I was out. I also want to, you know, use my points in other, you know, other possibilities. And, what we try to do is exactly to make sure that we have possibilities for everybody regardless of the amount of spend and therefore the amount of accumulation that they have, but also what they really prefer to do.
So we have been diversifying our, our program so that we, yes, we have been growing in travel, but it has been, been growing faster in, let’s say, non travel possibilities both in terms of the usage of points and also in terms of the number of people that are using points in, in our ecosystem.
What happens is that you were very right. I mean, Amazon, for example, that allows a partial payment, right? So you, you can pay like 5 percent of your, your purchase with points and also peaks that I’ve just, that we just talked about, which you can, you, you can pay something as simple, you know, as newspaper on the, or, you know, a book or as we said, an espresso, right? You know, you know, but you can use points for everything. And also the possibilities we have, I’m going to talk about this one in a minute, allow people to use on a daily basis, regardless of their ability to accumulate. So that, you know, creates engagement that create people say, okay, some people could say, no, no, loyalty program is not for me because you know, I’m not being able to accumulate. And I’m going to travel because even if I want, even if I can’t pay for a certain air ticket, you know, there are hotel expenses, you know, the things that, you know, not for me. And they can say, Whoa, listen, this may be for me.
And actually we have been observing a lot of people that were not in the ecosystem, do their first redemption because of those new efforts. Though the new offerings that we created are responsible for something, for something between 40 to 60 percent of the new, or the first redemptions that we have in our program, people that are using points to date, to you, to make in the first usage, so we are bringing new people to the ecosystem are bringing a new profile to the ecosystem, which actually provoke as well ourselves to reinvent ourselves. Okay, listen, we are used to certain profile. We’re having a new one. So let’s get to know better this new profile that we already do. So it’s a plan, you know, a push towards innovation, as we said.
And another thing that I’d like to mention to you is another, again, talking about the ecosystem, right? We made a partnership with another loyalty coalition program, call it Stix. Stix is just to make a confusion with names, but Stix is another, is another program that belongs to a, one of the largest, you know, drugstore chains in Brazil and one of the largest supermarket chains or grocery retail chains in Brazil.
So it’s a program that people can accumulate points and use points in those two partners, but also in some others that they have created within the coalition program. We made the partnership with them so that Livelo points can become sticks number of the company points in the point of sale again, to use it as a partial payment. So you have, you know, purchase, you can actually pay it with points. Right?
So again, going offline as we did this mix with another partnering company to do a partial payment. So this is another company that I just mentioned to you of the, of the new offerings that allow us to grow in terms of transactions and to bring new people to the ecosystem and loyalty coalition is all about network effects, right?
When you have another component of the ecosystem, the value for the whole ecosystem increases. Right. So that’s what we’re doing. And it’s allow us, it’s allow us to improve our engagement, our drive, our our behavior driving ability, and therefore being more relevant to the B2B partners. So we can have more B2B partners.
We have been, we have just brought, you know, some of the largest financial institutions recently in addition to our shareholders, to the ecosystem. And by the way, companies that would, you know, be a little bit not enthusiastic. Let, let me put, let it, let me put this way about loyalty programs.
And we have about 30 financial institutions right now in our ecosystem, you know, providing develop points to their, to their customers either in directly or having their own loyalty progress, but allowing the transference from program to other.
So it’s about expanding the ecosystem, creating solutions that, you know, we’ll, we’ll be able to benefit clients of different profiles with different solutions. So that’s why you have been able to experience that kind of growth.
Paula: Incredible. Yeah. And you said to me, I know the last time we spoke, Daniel, that there was much more growth in those, I suppose, FinTechs, as you’ve said, and using loyalty points beyond credit cards for other parts of the banking relationship, which again, I’ve heard with other conversations we’re having, and I think that’s extremely important.
So, you know, if somebody does have, you know, their bank account with you, I know it’s something that, it’s an interesting sector because people are, you know, almost loyal by default because they don’t want the hassle of changing a bank ever. But again, they are behaving in a way that is good for that business. So why would we not recognize and reward it?
Daniel: Absolutely.
Paula: So it sounds like there’s so much going on, on all fronts, Daniel.
Daniel: Yeah, there’s a lot going on, a lot going on, both in the B2B and the B2C, you know aspects of our business. You have lots of things going on. We’ve been busy.
Paula: Yeah. It totally, totally. And we are running out of time, Daniel. So we will have to wrap up. But, and I will ask if there is anything I’ve missed, but one minor question, perhaps I’d never asked you before, but does Livelo actually translate? I don’t, unfortunately, speak Portuguese, but as a word, does Livelo mean something or is it literally a brand name that that just is a brand name? I should have asked you that before, but I do like words. So does it translation to anything as, as a meaning? Or is it a brand name?
Daniel: No, it’s a brand name. It’s a brand name.
Paula: It’s a brand name. Okay, perfect. Thank you. Sorry. I do, I do always kind of think, actually, I really need to make sure I understand that. So listen, that’s all I have for you today, Daniel. Is there anything else you wanted to mention for our audience before we wrap up?
Daniel: No, I think that what I could, what I could just mention is that, the, it’s interesting to observe Paula, yeah, the, the attention that loyalty is having in all different sectors. You know, we have been, talking to many companies that come to talk to us to say, listen, I want to jump in. I mean, I don’t know exactly how to do it, but I see the benefits of a loyalty program. I don’t know exactly how to, you know, engage, should I have my own, should I, you know, participate in the one pre-existing, program. But I think that I need to do something.
So I think that the many, many companies, I’m talking about retailers, I’m talking about industries or manufacturers. I’m talking about financial institutions. That definitely seems to be a perception that loyalty. it’s something that when properly manage it brings benefit on the bottom line.
So I think that this allows us to, you know, to enhance, see lots of innovation, lots of good things going on to see our segment grow, but to have more challenges ahead because as more people are jumping, right. Competition gets, gets more intense which is, I would say beneficial at the end of the day for the whole, for the whole segment.
So this, I’m sure Paula, there would be a lot, a lot of news, a lot of content for, you know, for us to talk about, for us to observe and, as the segment expands. So I’m actually optimistic about the segments. I’m not optimistic about technology personalization. I’m talking about Starbucks, you know, personalization, something that we believe to be a pillar, a fundamental stone of everything that you want to do in the future. You’re talking about engagement. How can you talk about engagement without talking about personalization? It’s, it’s, it’s impossible, right? You need to, you need to be relevant to the individual. That’s, that’s personalization.
Paula: Yeah.
Daniel: So, but for using, for being effective in personalization, it needs lots of data. To treat lots of data, you need to use, tools such as AI. So I believe that in terms of interest, in terms of technology, you’re going to see a lot of things going on in our segment that you provide innovation and to provide efficiency, and you provide benefits for society, both, you know, individuals and companies. So again, I’m optimistic, lots of things going on. Lots of subjects to talk about in future programs.
Paula: Indeed, and I hope it’s not three years, Daniel, before we have you back on the show. so I just want to say thank you for all of those incredible insights you’ve shared today. Congratulations again on the Cannes Lions Awards. That’s absolutely brilliant news.
And I just want to say Daniel Pagano, Chief Marketing and Operations Officer. Thank you so much from Let’s Talk Loyalty and Loyalty TV.
Daniel: Thank you so much, Paula. Pleasure to be here.
Paula: This show is sponsored by Wise Marketer Group, publisher of the Wise Marketer, the premier digital customer loyalty marketing resource for industry relevant news, insights, and research. Wise Marketer Group also offers loyalty, education and training globally through it’s Loyalty Academy, which has certified nearly 900 marketers and executives in 49 countries as certified loyalty marketing professionals.
For global coverage of customer engagement and loyalty, check out thewise marketer.com and become a wiser marketer or subscriber. Learn more about global loyalty education for individuals or corporate training programs at loyaltyacademy.org.
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