#466 : Investigating the Pro Premier Rewards Program by Floor & Decor (Short Summary Show)

Paula: Welcome to Let’s Talk Loyalty, an industry podcast for loyalty marketing professionals. I’m Paula Thomas, the Founder of Let’s Talk Loyalty. Today’s episode is hosted by Tom Peace, Managing Director of The Loyalty People, a strategic consultancy with a laser focus on loyalty, CRM, and customer engagement.

The Loyalty People also runs a free global community for anyone working in the loyalty industry. If you’re working in loyalty marketing, make sure to join Let’s Talk Loyalty every Tuesday, Wednesday, and Thursday to hear the latest ideas from loyalty experts around the world.

Just before we share today’s episode, I want to ask you to sign up to the Let’s Talk Loyalty email newsletter. Our email newsletter is by far the best way for For us to keep you up to date with all of the latest incredible loyalty stories we’re sharing each week. It’s also the easiest place for you to find our show notes with links to everything mentioned in all of the episodes.

You can sign up at letstalkloyalty. com

Tom: Hi, I’m Tom Peace, Managing Director of The Loyalty People and presenter of Let’s Talk A Little Loyalty. Welcome to this week’s short summary show. In this week’s episode of Let’s Talk A Little Loyalty, I review the original podcast where Paula was joined by Matt Goldberg from Floor & Decor. In the original show, Matt and Paula discussed the insights behind the Pro Premier Rewards Programme and I’ll summarise key points from the loyalty strategy designed to deliver powerful benefits to the community of flooring professionals nationwide.

This is a B2B programme with a vision of continually growing share of wallet with their business customers. Floor and Decor is a brand that offers the same products and pricing to both its trade and consumer customers. This is great for customers, but it did give them a challenge in terms of creating a point of differentiation for their trade customers.

Matt talks about how he created the Pro Premier Rewards program to address this need for a clear USP for the trade customer base. Matt talks about how price and promotions are only a small part of what trade partners look for. The end customer is the eventual purchaser. So the trade customer isn’t always too motivated by price.

Floor and decor look for ways to create a relationship with trade customers, developing emotional connections through convenience, trust, and by helping them to build their business. Matt talks about how important service levels are for trade partners and therefore how much they focus on customer service, stock availability, delivery, et cetera, in order to ensure that the trade customers are always satisfied.

On top of this, Matt implemented a point space program for trade customers that provides a huge catalog of highly beneficial products and solutions aimed at reducing a trade customer’s business costs or increasing their business efficiency. However, there are lots of amazing experiential benefits that make the engagement really exciting to trade customers.

Experiences include race car driving, swimming with sharks, and other once in a lifetime experience. This is a very clever way to differentiate in a market that is dominated by price messaging and really adds value to the trade members. You can find the main show at www. letstalkloyalty. com and first aired on the 25th of August, 2022, episode number 267.

Listen in to enjoy a master class in the pillars needed to drive emotional loyalty in the intensely competitive retail sector. The home improvements. Thanks for listening. I hope you enjoyed my summary show all the best and speak to you soon, Tom.

Paula: This show is sponsored by The Wise Marketer, the world’s most popular source of loyalty marketing news, insights, and research. The Wise Marketer also offers loyalty marketing training through its Loyalty Academy, which is already certified, over 500 executives in 38 countries as certified loyalty marketing professionals.

For more information, check out thewisemarketer.com and loyaltyacademy.org.

Thank you so much for listening to this episode of Let’s Talk Loyalty. If you’d like us to send you the latest shows each week, simply sign up for the Let’s Talk Loyalty newsletter on letstalkloyalty.com and we’ll send our best episodes straight to your inbox. And don’t forget that you can follow Let’s Talk Loyalty on any of your favorite podcast platforms. And of course, we’d love for you to share your feedback and reviews. Thanks again for supporting the show.