Transcription:
Dave Andreadakis: (
Thank you. I appreciate the applause before you guys know anything about me. That is fantastic. It's about as good as it gets in this industry. Have you ever noticed other industries like, and I speak in front of a lot of different types. Like I saw Richard Branson come out once in an airline industry and there's like rock music and smoke and all this kind of stuff. And then I go to my kind of conferences and it is like hey. Hey, like man, my guidance counselor sucked. Did not tell me that there was other options where you could get more fanfare while you are up there. But today I am gonna talk about the three ways your brand can tap into the gold mine of loyalty. And I want you to know, I thought about all of you. I had a different presentation setup.
Dave Andreadakis: (
It was all about how to optimize your loyalty program, real exciting stuff. And I remembered this is a conference that is filled with different types of folks. We have got issuers and acquirers here. We have also got a lot of vendors and I am dead set on getting everybody back to conferences because COVID just about killed me. I am so excited to be back here in a filled in a room, filled with people that are excited to get outta the house and get business back to going. So I thought about what could we do that would be exciting for every single person that's going to attend. So today we are gonna talk about some cool stuff I am gonna quiz you. So you are gonna have to get a not quiz you like, Hey, you remember the answer, but you are gonna score yourself. And so if you have a piece of paper, just kinda write down a number, that will be cool.
Dave Andreadakis: (
I will give you a couple of tools to think about tapping into this stuff and we will tell some fun stories and you guys can eat and if you need to talk to your neighbor, just kind of whisper, that's all cool, okay. Does that sound fun? Yeah. All right Cool. So, first thing you have to do when you read your book on how to present is establish credibility. And so, I am an expert in gold mining. Okay. I have been to an abandoned gold mining in Utah, one time and also on a family trip at this reputable establishment. I did gold panning out in front of it. And so I think I know what I am talking about here. And I swear if I just had one more handful of gravel. I would have found the mother load in there.
Dave Andreadakis: (
What I have done a lot of is loyalty data mining and I do that in Florida. Where, Kobe marketing lives. Now my guidance counselor was pretty good because they told me all the things I should not do. And I went out and I tried to do those things in my career. And I ended up just following my nose, like a beagle. And I ended up as the chief innovation officer at Kobe marketing. Now my job is literally to challenge people's thinking challenge the industry challenge, my boss challenge everywhere, where we are going. And that sounds awesome. I just get to sit there and poke holes at things. And it sounds amazing until you realize that every conversation sounds starts like this. You are wrong about something, right. And think about how that goes over. And so we have to find ways to bring people onto the journey with us as we are thinking about different ways of approaching business.
Dave Andreadakis: (
So we are gonna do that today. I am gonna bring you all on a journey and I will say, hey, pay attention to this one, cuz it's important when it's important this is what we do. As a company, we grow enterprise value through loyalty. Now enterprise value means two things to me. Number one is this has to hit the bottom line. Everything that we do has to have a financial result and that is a good thing. It makes us accountable. But the second thing that it does that we did not know it was gonna do, was it made sure that every step of the way we saw people were producing value and sometimes that value was not picked up by the next part, down the chain and so on and so have you raise your hand if you ever felt like you were part of a big machine and the thing you were doing was awesome, but people didn't appreciate it or understand it.
Dave Andreadakis: (
Yeah, people feel. So my view I saw a lot of those. I felt that way a lot and so in this presentation, we will talk about a few ways in which we can help things move down the pipe and hit that bottom line. Alright, one of our core tenants, we have got five of them. Is that a well-constructed loyalty program is the best way to drive brand loyalty. Now that says something because look, not everybody, not every customer is part of the membership program. If you are in retail, you got a lot of customers that don't want it. If you are a banking card and that is also what your membership is. If you do not have the card, then what are you gonna do with this? Right? And it has to do with how do we receive input and information from the rest of the organization and how do we push it out so that it's useful to other people.
Dave Andreadakis: (
So today we are gonna talk about loyalty data. We are gonna give you three tricks and tools. So, places you should probably be investing to get the most out of it. So for those of who do not work really closely with loyalty programs, we kind of have it easy, right? The loyalty data is incredibly valuable. Number one, it is a highly permissioned environment. Permissioned, that means we get to do a lot of things with members in terms of marketing, using data that other people cannot in the organization, because you don't have that permission which comes within being part of a loyalty program. Members are motivated to give you information to tell you how to make that experience better. And analysts can start to connect what happened with, why it happened because it's easy to string together transactions and out of the store or the card experiences. Cause we are pulling it in from all over these different places.
Dave Andreadakis: (
And then finally members are motivated to self-identify there is parts of the organization that would kill for that, especially in say retail or if you are in airline or something like that. Like man, I wanna know who everybody is all the time, multi tenderer, the same type of thing happens here. So if we have this power and a loyalty program, we have a responsibility to make sure that it is usable information that is pushed back to the rest of the organization so they can do something with it. So traditionally, this is how people look at the loyalty program is we wanna push all of our customers into the loyalty program. We want them on the card and we want to be a member. If that's retail, that's how that looks. If it's a card product, we just wanna make sure that they have card product itself.
Dave Andreadakis: (
But we wanna make sure that they are engaging with us all the time. Let's get into the membership program, but things have evolved and they sped up quite quickly during COVID. And now what is happening is that the best customer centric organizations are using this information to inform and fuel the rest of what's happening all the way back to the beginning of the funnel from the idea of, I might need something at the store or I might wanna make a purchase, or I'm trying to consider which card to use all the way back there. We want loyalty data to help push and inform ways to influence. So the three things that we are gonna talk about, and this is kind of one of those little out of body experiences. I am gonna step over here and say, hey, pay attention to this word democratize. I know a lot of you guys know this word.
Dave Andreadakis: (
Some people don't know what this word means. Democratize means getting the information from here to all of the folks over there, go back and use this. It's really powerful stuff. It's great. It's my favorite word. And you can just sit there and say, hey, I learned something at this conference, right? Bolster profiles with emotional data is the first thing that we are gonna talk about. And that's gonna help you get that information out. Second, develop, actionable insights. And then the third thing we will talk about is putting information into the hands of all the people who can actually affect the customer. Now I sit out there a lot at conferences and honestly, raise your hand. If you are bold, who says, no right here anybody come on, It's no. Everyone of you has something on your desktop that says, hey, I wanna add data to my current data.
Dave Andreadakis: (
I am gonna enrich the data. I want to develop better insights that we have today. And I also wanna make sure that we can affect the customer with this information. It's no, duh. And as we advise and work with some of the largest companies in the world, everybody has a problem with all of this. We are all falling short on doing exactly what we say is no. So it's gonna be less about theory today and a whole lot more about do exactly the following things. And you should get a head start on these. All right, so the first one score emotional drivers of why your customers behave. This is really important. We have a lot of data who here thinks they have a lot of data, everybody. I mean like raise your hand. You have got a lot of data. Nobody says I don't have enough data.
Dave Andreadakis: (
They think that they say, I don't have the right data. Right, and the right data, you are gonna need this type of data, emotional drivers. And you are gonna need this at the customer level. So we will talk about how to go about getting at that. Let's talk about what that is. We put this taxonomy together. It's this again? A no dust slide, right? You have been hearing about this type of stuff for years and years. There's behavioral data and transactional data. Transactional data is the pile of receipts. You can sometimes line them up and see a sequence. Behavioral data is the stuff that tells you about them. The types of decisions, the channels, all that kind of stuff that goes in there. You can put a lot of stuff in the behavioral pile, but emotional data. What am I feeling when I did the thing? Because my feeling, my experience changes the value of the thing I want to do. And I will prove that point right now. Can I have a volunteer? Who is willing to just answer some questions for me. Raise your hand. I am gonna eyeball somebody, okay. All right, okay. How much would you pay for a soda? Yeah, I did not raise my hand, but sure. Yeah. How much would you pay?
Speaker 2: (
I didn't pay, but probably two bucks.
Dave Andreadakis: (
Two bucks, right. That's a good answer, $2 for a soda. I would pay $2 for a soda, but if we were shopping and my responsibility was to go get the soda and I came back with a 12 pack for $24. Would you think that was a good deal? Nope. No, because the $2, he was probably thinking was the vending machine right over here. I will pay $2 for the vending machine. Right? What if you were at the bar, would you pay $5 for a soda? What about Disney? Would you pay like 10 bucks for a soda? Probably. And if you were at AMC watching the last Twilight movie and your wife really wanted the commemorative cup with Edward versus Jacob on it, would you pay $14 for the stupid cup? I did right. And the answer is it's still soda, but the experience and the setting, the emotion, how I felt changed, what I was willing to do in that moment.
Dave Andreadakis: (
And that holds true for every last thing that we engage our customers in, how they feel is going to affect their decisions. Who I am right now at this conference is very different. If I am out with my kids or if I am out Friday night, or if it is Saturday morning, I am at Disney, I am a different person in all of those situations. So you need to understand what is going through my head and how motivated I am to do something. And so that is what the emotional data will help you figure out. So let's talk about emotional data for just a second.
Dave Andreadakis: (
There is these three things make up emotional drivers. It's that simple it's habit. It's status. It's reciprocity. We work at the university of Oregon who compiled all the different emotional drivers and said it basically comes down to these three things. So let's talk about what they are habit. We all know what habit is. So habit is something that we no longer make a decision on. Does anybody buy milk at the grocery store? I am gonna keep asking questions still I see hands going on. There we go. All right, cool. You buy milk at the grocery store. Does anybody know from the top of their head, what color cap they get at the grocery store? Yell it out, right? You have got your colors. Now, when you started buying milk, it was a process to figure that out. You are like, oh my gosh, do I want 1%?
Dave Andreadakis: (
Do I want skim? Do I want 2%? What's the difference between whole milk and this, oh my gosh, organics now in the picture, what am I gonna do? Am I a good parent or a bad parent? And then you decided red or blue or green or yellow or whatever it is. And your brain did something. It said, I am not gonna use the outer cortex of my brain anymore. On this decision, I am gonna create a macro and I am gonna stick it over here in a different part of my brain, because I reserve all of that outer brain part for making active decisions and we create a habit. And then we just do, at that point, I have a 15 year old and in Florida you could have a permit and he is driving at 15 years old. It's scaring the life out of me, right.
Dave Andreadakis: (
And 10 and two, your hands are right here. And you are looking at the mirror and you are looking over here at this mirror when you are gonna change into that lane. And you are going like that and everything you are aware of everything when you are learning to drive, not now, now I am cruised like this. I got my phone going, maybe using my knee. I got a cup. I am going from one lane into the other. And I am like, I just passed three exits. I didn't even remember that I was driving. Cuz I am thinking about this work thing because it's a macro and it's stuck over here. And like you just do and we all have that. And if you break that chain and many brands do this, you break really good habits. Sometimes if you say, hey, milk is on sale. If you get the yellow cap this week, instead of this other one, you just blew up your whole value system.
Dave Andreadakis: (
Right? And oftentimes we do that on accident because we do not know what is motivating and driving our customers to behave a certain way. Habit, we all know what habit is status. We all know what that is. How many people flew here? There we go. Knock getting some hands. We all flew here. Right? Boy, the airlines have this down path. Right? Okay. Excuse me. Everybody would all of the common people just stay seated. Okay. I want just the important people to stand up. Form a line, we are gonna hold here so everybody can look at the important people for just a minute. All right. The red carpet. That's where you are gonna go. Okay. Now important people go get on important people. All right, cool. Now we are gonna take this thing. We are gonna put it over here. Now everybody else line up pine number.
Dave Andreadakis: (
When your cattle number is called, then you can now board the plane. And even though most planes have two doors just to expedite boarding, they push you all through the front. So you can see with drink in hand in first class, how nice it must be to sit there and parade you past. And if you are in first class, if you travel a lot and you get upgraded, you do not dare look up. You are doing that and we all know that feeling. We wanna be important if you are an Aboriginal in the middle of Australia or if you are in New York city or if you are on that jet way, we all know what it feels like to want. Mom's attention to get the girl to be taller, to be in the front of the line. We all want status. And it motivates each and every one of us a little bit differently.
Dave Andreadakis: (
Some Zen masters in the room have gotten past this. They say, I don't care about status, right? And then other people, it's all they think about. And that's what motivates you and Bobby and Billy and Susie have a different degree of motivation by status and a different degree of motivation by habit. Convenience also fits under habit. If you give me a fast pass, I will pay all day long for it. Cuz I just can't stand waiting in line. But for other people, maybe not so much, they value the dollar a little bit more than that. And so we all have these trade offs that we were making reciprocity. We will move on here after reciprocity. We all know what reciprocity is. Also, let me describe it to you. When I was six years old, that's a long time ago. I am almost 50 now. So when you are six years old, I'm six years old.
Dave Andreadakis: (
When I was six years old, my mother was pregnant with my youngest brother, Dan and she was sick in the middle of the night and we were in upstate New York and the pharmacies were closed and Sean pastor came down and mixed up the medicine in the middle of the night and hand delivered it to my house. And I remember that and it was meaningful to me, so meaningful. I remember it 44 years later. And when I am in town, I shop at his store because I remember what he did for us. And I don't care what CVS does or Walgreens does. I am gonna go to Sean pastor's pharmacy and keep saying that name because I felt so good about him doing that. I have a moral obligation to give back. And that's what reciprocity is. It is not an equal to a thing. You feel indebted to someone.
Dave Andreadakis: (
Have you ever been serviced really well? Who has a person for their car, for their hair, for their nails, for their lashes. It is your person. They did something to you that you trust or that you needed trust for and you earned it. And now they will never break from that. That is reciprocity. And we are all motivated differently. As I said before, we had one client. Who is an airlines. Since it's familiar to everybody, I'll bring it up in this industry and they have history. And they thought the number one thing that mattered to their customers was status. And they put a program together that was all about status. Let's give as many people status as possible. And we ran the scores to find out what mattered to their customers. And this is what we found. It was a motivator for less than 10% of their customers across all of their segments, reciprocity and the combination of reciprocity status, bumped it up.
Dave Andreadakis: (
Reciprocity was the largest motivator. Just give me a great experience. Just be reliable, be on time. That's what I need. I need you to take care of me. Not make me feel special about who I am. They have been investing every penny that they had into increasing status, but what mattered to their customers with something else, you can see how this plays out. You can see that. Remember in my soda example, money, actually didn't even matter. You build the experience up big enough and then I will pay the amount that you need me to. And so if you pay attention to emotional drivers, you can have that kind of power of your customers. And now we are starting to get to hit close to home. I was talking about something we all knew, but we are all investing in things. We are all doing promotions. We are all giving away currency.
Dave Andreadakis: (
We are all trying to figure out, should I lower my price? Should I increase or invest in some feature? And the answer often is you do not need to do that. If you can change the conversation to something that feels instead of actually looks like a transaction. All right. So what I would like you to do, this is the quiz yourself. Test yourself part is I would like you to just kind of look on the scoring right here and give yourself a value. You don't have to show your neighbor. It's not like we are, it's not confessional or something like that. And we built this on a PC and turned it over to a max. So it's not showing up properly here, but I think you can read through the truncation just give yourself a score. You wanna at least be at three as we go.
Dave Andreadakis: (
We are gonna do three of these today. And as we get through these number two, I always change the word a little bit, cuz this is where most companies reside. They sit there and I am curious like my organization has done some research but I find it hard to use on a daily basis. So if you know something about your customers, what drives them? Cool. That's good. But unless you can use it, then you are probably falling a little bit short. You are competitive when your organization can at least emotionally score segments. I know what drives that segment and it's a marketable segment and I can do something with it. Give yourself a four that is where you are at and give yourself a five. If you can say, I know what emotionally drives Billy. I know what emotionally drives Susie. Okay. That's the stuff that's gonna really mean, be meaningful.
Dave Andreadakis: (
Okay, all right. So that was number one. Number two, create insights that are meaningful to the entire organization, okay. If the Mo if loyalty programs have all that data and that secret sauce and the permission environment and all the other things, I said that say, hey, they are cool. Like that kind of thing, right. Then how do they make it useful to other people? And very often, this is where we fall short. Oftentimes we are tasked by a C level executive. They see something that we were working on. They say, hey, I need you to go talk to someone over here in this department and make them aware that's available over here. And they never say to me, yeah, we have been looking at this for years. It's getting the API to work the way that we want to, or making sure that, that updates by the time that we need to use it never sounds like that.
Dave Andreadakis: (
It always sounds like they have that over there. They have that information they are sitting on that insight. I didn't know. And then the person in charge of having that information says, yes, I send you this report every week. And they are like, you get that out of that, that report is built for loyalty operations. It's built for loyalty management. How do you take the insight from there and make it something that could be useful over here in the other parts of the pipe. So they never ask me, by the way for, can you gimme some enriched transactional data, anymore behavioral data? Could you help me source emotional data? That's usually the stuff we have to tell them. You need to enrich your data. You need more emotional soda example. It's fun, right? What they ask for is this can you help me improve my experience?
Dave Andreadakis: (
Can you give my customers a better value? I need them to engage more particularly between transactions. Can you help me figure that out? Well, let's go back to that. Those three pieces of data we call us triple play in internally. It is our fun name for it, right? But you have got emotional behavioral and transactional data. So if I want to make the most out of this, and I want to think about what my customers are asking for, I need to combine information and I need to combine it in a way that's ubiquitous for the entire organization. So emotional data, plus your behavioral data can start to help inform what's really going on with the experience. If I combine emotional data with transactional data, I can tell you how they feel about what they just did. And that tells me about value and satisfaction and finally behavioral data plus transactional data.
Dave Andreadakis: (
When you combine these in certain ways, it helps you understand how customers are engaging or the things that are actually changing as they move through their life cycle with us. So let's talk a little bit about what that looks like. It's gonna be different for everybody here. I am just gonna give you some examples. Remember, you have got this data, we are all pros, especially at behavioral and transactional data. I am sure you are sitting on a lot of that's the emotional, data's the stuff people usually do not have. So I will give you this example here. If we really want to, there we go. Look at engagement, we are gonna have to look at what stuff do I measure? What are the KPIs that I look at and what am I doing with that data? Because what I am doing with that data is what is gonna be useful in the rest of the organization.
Dave Andreadakis: (
All right? So let's take a look at it here. If I measure and benchmark KPIs, such as frequency, monetary. If I look at touch points, if I look at the partners, if I look at everybody that we were bringing in, if we look at every offer and I start to say all right, when, where and how are they engaging? How is that changing over time? That tells me interesting information, but it's not useful yet. It becomes useful when I can start to say things about member migration, partner engagement. When I look at post redemption activity, the customer strength. So when we are looking at front to funnel and we say, hey, those type of people, when you bring them down the funnel, they tend to produce a strength of X, Y, and Z. That's where it becomes really, really exciting to everybody else, okay. So turn your interesting information into useful information by thinking about the rest of the organization.
Dave Andreadakis: (
And we will talk a little bit about that next. Before we do, I want you to rate yourself on that, okay. One through five, you wanna get to, good is good. Four is competitive. I would love somebody to say, hey, I have all fours. I am not gonna quit as anybody individually, but if you have all fours, you are doing great. If you are at three, you probably need to step up or else other companies are gonna kind of bully you around when it comes to getting your customers attention and getting them to take action on something they want that you probably do not, all right. And if you can get to five, then you are ahead of the game and you are leading the industry. So I leave this up for just one more second. Cause I see some people writing us down and remember how I say, hey, look out for number two.
Dave Andreadakis: (
That is the one that, I say, this is where most companies sit historical. Most of my data is focused on communicating. What happened means I look in the past and I say, my report told me what happened last Thursday, not my report is telling me what is likely to happen next month, the drivers of that information so that we can be decision makers and say, we should do something about that. All right, so let's move on. Number three, put information into the hands of people who can affect the customer. We have a loyalty technology that is a full service thing. We got all these like services that, humans put their hands on and say, here's the professional services to help you analyze and all that kind of stuff. And so when it comes to this put information into the hands of people, you'd think I am gonna talk to you about a technology.
Dave Andreadakis: (
I am not, there is something you have to do ahead of having the technology to disseminate the information. And that is think about how you are organized as a company. Okay, so one of our tenants here is that we can define non programmatic loyalty. We in the loyalty space, we talk about big Loyalty and little Loyalty, little L being the program and big L being all the other stuff. But for the most part, that's what, where we stop. We stop saying what it is. We say there's big L what's big L what's, everything else. There is the little L, which is the program and everything else is kind of cool, alright, well, let's define what that stuff is. When I look at this, I think about the customer journey. There is a train passing here. You ca not really see it that well, but there is a guy standing in front of a train.
Dave Andreadakis: (
Whenever you look at advertisements for travel, it is always show some beach. Somebody, discovering themselves on top of a mountain. That is not my experience when I travel, right? It is just a blur of busyness and a lot of things happening. It is uncomfortable, there is lines, there is all that kind of stuff. And that is something to me that feels like the chaos of the customer journey. It's not quite as easy as it used to be despite all of the investments that are being made to make my journey easier. And so what is the customer journey? That is the rest of the stuff. That is the big L and there is actually six different places that loyalty shows up. One of them is the loyalty program. The other five is what is big L loyalty. So if you are a brand person, it is gonna look something like this.
Dave Andreadakis: (
Everybody has their own little verbiage and little tweaks and things like that. But you are gonna say, hey, I am here to help create awareness, to get some consideration going on. The customer is gonna make a purchase. We want to service that purchase. We want them to become loyal at that point. And then we want them to become advocates. And that is what the brand people are doing. There is other people in the organization that are working on product and product. People are sitting there going something similar awareness, consideration, purchase service habit, maybe advocacy, again, these tweak a little bit, but right away, you are saying, hey, those are kind of similar. And often times these people are not in the same department, third thing, channel journey, you got people developing out a channel awareness, consideration, adoption preference. And all of these are really about preference of the brand of the channel of the product.
Dave Andreadakis: (
Okay. And if you are a C level person right now, you are going to wait a minute. I budget for all of these. And these people don't necessarily report to each other. Often times the CMO does have this under them, but are we coordinating all of the activities number? The second part of this is the e-com journey. If you are working on e-com. If a lot of what you do is digital there is landing. There is browsing there is selection. You put it in the cart. There is the add-ons, there is the checkout. And then you are gone forever, right? You can't do anything to affect that purchase. May be send an email, get to come on back. Right. Purchasing a trip. If you are a retail right now, what is that look like? What need identification? There is the value search? There is the store. There is the cart. There is the speed rack. That is where you got the candy bars and things like that.
Dave Andreadakis: (
That is just like, add-ons in the e-com channel, the point of sale. And then there is a thank you after. I mean, think about that for a second. If you are pet smart this is what your customer journey looks like. I am outta dog food. I need to get which storm am I gonna go to? I am gonna go to this one. There is a strip mall over here. There is a pet smart. I am gonna go there. I am gonna go get in the car. Let me go down, up, down the aisle and get the blue bunny. Whatever thing is, I am gonna go over here. I am gonna get to the, oh, it's not until I am at the point of sale that they know I am even there. And there is a line of people behind me and the $8 an hour employee can not really do a lot to help upsell or do different things for me at this point.
Dave Andreadakis: (
And so they say, here is your receipt. And then maybe Catalina prints out something interesting that says here is a coupon for something. And then you go, here is another journey. Hey, Alexa, buy dog food done. That's what they are competing with. That is what they are competing with. And they actually are missing an advantage every single step of the way, right. You could have influenced me. You could have sold me something. You could have understood what I was going through. You could have impacted me. You could have brought a partner and you could have lined up the right partner, the right partner off. Or you could have given me incentives all along this way. And you could beat Amazon with that all day long, but retailers don't do that. And a lot of cards who are right in bed co-brand are right in bed with the retailers missed that opportunity also.
Dave Andreadakis: (
And so I know we're trying, I'm not scolding people, right? While we are trying to get there, I just want to call out the opportunities that we have, which we often look at as something that is a burden to us. And so think about those opportunities, all right. And then last one, here is the program experience, which we are really trying to drive commitment, awareness, sign up. I wanna welcome you to the program. I wanna upsell, help you grow. What happens if you fall away and churn, I get sad and I am gonna win you back, right? That's what we do in loyalty. So this is complicated and all of these things are happening inside our organizations at the same time, budgets, overlap, messages overlap. Have you ever gotten in a queue to get a message out to the customer? I really wanna tell them about this, but they are sending this other promotion instead.
Dave Andreadakis: (
So I have to wait until February before I can send my communication. That is, conflict right there. And you are willingly standing in line. We all do it because that is what we feel like we have to do is we have to get in line so that we can do that. And so what I am saying is there is a way to coordinate these things. And before we talk about getting data into the chaos as hands that's chaos, let's organize ourselves a little bit because if I just took all the things that sounded the same and lined them up, there is a much simpler path that you see for each one of these things doesn't mean you have to reorganize your company and report to different people. It just means we gotta talk. It means we got share data. We have to be aware of what their needs are.
Dave Andreadakis: (
And we have to push information out to them that is useful so that we can collaborate and accomplish multiple things at one time. Okay. It's good stuff. All right. So enterprise wide customer development, that is what I am gonna call that it will change by the next time. Cause I am still working on a title for that, but that's what it is. It's regular sharing and communication and collaborating. And as we get bigger as organizations and more complex with technologies, we get more siloed. So the three things I would say to do to make this happen is organized by shared outcomes, which we want multiple things for preference. We want multiple things for sales. We want multiple things for commitment. Have those meetings have those conversations. Number two, leverage loyalty insights to drive that value exchange that both you and your customers want. That was all that stuff in the big circle that said, here is the stuff we can do.
Dave Andreadakis: (
Take it loyalty professionals and push it outwards. And if you are in a company that you do not have that information, go talk to them and say, Hey, could you get me a hold of this and this cuz it would really help me share insights in all directions. As you push information out from the loyalty program, we are gonna want to know, did it work? What did you learn? Tell me more, pull that back in. It's your best buy said this one time at on a stage, they said our loyalty members are our most valued critics. And I just loved the way that they said that your best customers are your most valued critics, the ones who can help you think about how to do your program a little bit differently or to communicate exchange and all that good stuff.
Dave Andreadakis: (
All right, so let's rate ourselves on this one. We are almost done. Let you get dessert and stuff. If there is a dessert. All right, okay. Remember number two on this one is the one that always where I say most people sit and this is the one where it's like, I know these functions. Well, I know who is responsible for all of that stuff. And we meet regularly to coordinate plans and actions and I call that cordial, hey, are you gonna send it? Okay, I will do the next email. You do this one. Go ahead. Right? That's what that feels like. If we are cordial with each other, competitive, these functions share data and insights based on impacts to lifetime value. And I am gonna use that word to say something other than the next transaction because if you win the next transaction, but fall away somewhere else then you won the battle, not the war.
Dave Andreadakis: (
And you are strong when data is centralized and easily consumable actions are coordinated based on lifetime value and all activity drives towards shared outcomes. Nobody should be surprised at what you are doing and nobody should feel like they have to compete with what you are doing otherwise there is conflict internally. All right. So that is the presentation for today. I hope it was useful for you. I am gonna leave you with our FA our value prop here. Again, this is our mission statement that we grow enterprise value through loyalty. If you wanna get a hold of us, you can send a note to info kobe.com or meet us over at the booth. But I do wanna finish up just kinda what I started out with. I am so glad that you are all here. I am so glad that people decided now is the time to come back to conferences.
Dave Andreadakis: (
I am so glad that we took the journey to the desert, right. To be with each other so that we could kind of reinvigorate the industry and get things going again. I will be speaking at some other conferences later this year and hope to see everybody there. Please feel free to stop by our booth and talk to us. And I think we have a couple minutes for questions here. If anybody has them, I am not sure you do. You all look like you are about to pass out from the delicious lunch that you had. But are there any questions from anybody there is literally pillows at our table. If you want to grab a pillow, just take a nap for the remainder of the lunch. You can go ahead and do that. Thank you guys for your time. I really appreciate it.