In a recent conversation on Let’s Talk Loyalty and Loyalty TV, Priyanka Lakhani, Senior Vice President at Collinson International, and Paula Thomas, Founder and CEO Loyalty TV, delved into a crucial shift occurring in the loyalty industry—one that redefines loyalty programmes as profit-driving strategic assets. Historically seen as cost centres, loyalty programmes are now emerging as powerful tools to generate revenue and drive long-term value for brands. This evolving perspective is reshaping how businesses view their loyalty initiatives, and Priyanka highlights the importance of this transformation. Some key points that are being discussed in this episode include:
Evolution of Loyalty Programmes: Over the past two decades, the industry has evolved from simple rewards-based programs to data-driven, technology-enhanced initiatives.
Challenges & Industry Trends: Many brands struggle with optimising revenue channels, tracking costs, and meeting shifting consumer expectations.
Profitability Shift: Successful loyalty programmes define clear ROI goals, utilise diverse revenue streams, and align with brand values while maintaining customer engagement.
Revenue & Cost Optimisation: Programmes should explore revenue opportunities like data monetisation and partnerships while improving efficiency in cost management.
The takeaway from Priyanka's conversation is clear: loyalty programmes need to be repositioned as strategic assets that contribute to both customer retention and overall business profitability. By redefining loyalty programmes and focusing on measurable outcomes, brands can unlock new revenue streams and ensure their programmes provide long-term value.
Download the supporting slides to find out more on the strategies to extract maximum value from your loyalty programme below.
Listen to the full podcast episode here.
Or watch the episode here.