Q227: Are loyalty programs an asset or liability in times of economic crisis?
“The biggest airline and hotel loyalty programs have shifted to become profit centers over the last ten to fifteen years.”
On this episode of the Visitor Economy Podcast, I speak with Chuck Ehredt the founder and CEO of the Currency Alliance, a technology platform that allows brands to build seamless cross-partner digital loyalty applications. We discuss how loyalty programs have changed in recent years and how the current health and economic crisis will impact loyalty marketing strategy and execution.
Questions Addressed:
What can we learn from past recessions?
Are loyalty programs cost or profit centers?
How do loyalty programs play into long-run hotel and airline recovery?
What are coalition loyalty programs?
Are loyalty programs more or less relevant in a down market?
How will technology change the long game for loyalty?
Loyalty programs for cities and destinations?