An executive interview with James Berry, Managing Director, Commercial at Valuedynamx
As we near the midpoint of 2024, interest in customer loyalty marketing has risen to new heights. Brands across all business segments—mainstream retail to hospitality to financial services—are investing heavily in their customers. The wisdom of these customer-centric strategies is that they meet the expressed needs of customers who have more choices than ever and bring their wallets to the brand with rising customer expectations.
The dilemma each brand faces is how to ensure they provide sufficient value to these demanding customers when competing offers abound. We interviewed James Berry, Managing Director, Commercial at Valuedynamx to understand how brands can meet the challenge of rising customer expectations. He shares that by taking an ecosystem approach that enlists the cooperation of merchant partners and platforms, and by leveraging AI and ML technologies, brands can deliver personalized offers and rewards in a way that can be described as Next-Gen value exchanges.
James shares that data is fundamental to creating a strong value exchange as understanding customer behaviour is critical to delivering the right level of personalization and tailored experiences. He talks about how each party to the ecosystem should be in a position to derive value from these interactions and how properly executed strategies can establish the everyday relevance with customers that creates strong relationships and long-term brand loyalty.
Time Stamps:
0:00 – Intro.
2:31 - How are brands responding to rising customer expectations?
5:11 – Creating value for customers in a loyalty ecosystem.
6:26 – The principal driver of effective value exchange.
7:43 - How does this value exchange work?
9:27 – The role of Data Privacy in creating a value exchange.
12:27 – Case Study – British Airways Executive Club (AVIOS).
14:43 – What rewards are most effective in the value exchange?
15:40 – Explaining the role of Machine Learning and AI in the value exchange.
19:30 – Wrapping it up with James Berry, Managing Director, Valuedynamx.
