I have two unique examples of how Loyalty Currency is Real and what happens when a company has it, and when they don't.
Unique example #1: Shutterfly
Recent Shutterfly had a digital marketing snafu -- sending customers an email congratulating them on their recent delivery. Sounds lovely, except the recipients of the email were not new parents, nor did they have a new addition to their family.
Kind of offensive, right? A blatant misuse of the big data we always hear so much about.
But Shutterfly recovered. They tweeted a response, and spent several hours responding individually to customers who had contacted them. Bravo!
I suspect that Shutterfly has the Loyalty Currency to survive this issue.
Unique Example #2: A local restaurant in Nashville
I am being vague about the name of this particular restaurant, because to be fair, I never told them when they were falling short. So, I can't call them out if I didn't give them the opportunity to get better.
But ...this is a real life example of what happens when you don't have Loyalty Currency.
I dined at the restaurant several times, for both lunch and dinner, and I always found the service to be so-so. Not very attentive, waiting long for refills, it was never the best experience. But the food was great, and the location was convenient.
The last time I was there, the same thing. Except this time, there was something in my food. It looked like a very thin piece of metal, about two inches long. Yikes!
When I brought it to the servers' attention, they handled the situation as they should have - comping the food and apologizing a lot. But this restaurant just did not have the Loyalty Currency that they needed to keep me coming back. So, while I miss their food, I have found another convenient location and I get better service.
As business owners, please, never underestimate the value of a good customer interaction. They add up, and they really count when you need them.
You can read my original article on Loyalty Currency here: bit.ly/1pvFwe3