Welcome to Episode 2 of the Professor and the Practitioner mini-series with Professor Yuping Liu-Thompkins PhD, CLMP
In this episode we discuss and debate the difference between loyalty and loyalty programs and do loyalty programs work?
The differences are provided and then Yuping Liu-Thompkins PhD, CLMP shares insights on why programs work including the psychology insights of loyalty program’s influencing behaviors such as the ‘rewarded behaviour effect’ and the ‘point pressure effect’ and more.
Also discussed is the definition of a loyalty program… (with two different points of view).
And then the concept of ‘the voluntary reduction of your consideration set’ is shared …which was new to me!
Yuping Liu-Thompkins PhD, CLMP talks about recent research on 'loyalty to the loyalty program' vs 'loyalty to the brand' (and why this is a problem).
You can listen/ watch here https://lnkd.in/gzrVjdyt
Enjoy!
