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Fueling the future: The changing world of fuel rewards programs
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What’s fueling the future of large scale fuel rewards programs?
For this episode of the Loylogic Podcast, Olivier Martinet, CEO of Posidonia Consulting and ex vice president of marketing at BP, joins us to discuss fuel loyalty programs and what’s driving any rethinking of customer retention, revenue generation and incentivized engagement strategies.
In this discussion, Olivier emphasizes the importance of tailoring fuel rewards propositions to fit each company's strategy and customer engagement capabilities. Key talking points include:
- Instead of searching for a universal best-in-class program, he suggests evaluating programs based on four lenses: ease to participate, relevance, personalization, and profitability.
- The level of focus on these lenses varies based on the company size and scope, with global organizations showing a greater inclination towards balancing customer advantage and brand consistency.
- How the increasing digitalization and shift towards electric vehicles in the fuel industry are driving organizations to rethink their loyalty strategies, recognizing that a loyalty scheme is not just a marketing tool but also a privileged data provider for long-term strategic adaptation.
- Why, as the industry moves towards becoming energy providers, the evolving landscape of mobility hubs and electric vehicles will impact loyalty offers, requiring companies to adjust to longer customer dwell times and the integration of home charging behavior.
- Why major fuel companies are indeed repositioning themselves as energy providers, and collaborations with other energy companies and investments in alternative energy sources are already taking place, signifying a shift towards a future of potential joint ventures and partnerships.
- Why loyalty program owners should keep earn simple but creative with the burn side, with the differentiator coming in terms of personalization, and how customer data is handled.
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