Latest / Leaders in Customer Loyalty, Powered by Loyalty360 / #456: Leaders in Customer Loyalty: Industry Voices, Featuring Michelle Sequeira Yee, Vice President of Consulting, Bond Brand Loyalty

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#456: Leaders in Customer Loyalty: Industry Voices, Featuring Michelle Sequeira Yee, Vice President of Consulting, Bond Brand Loyalty · Leaders in Customer Loyalty, Powered by Loyalty360

• 0:04
  Speaker 1: Good afternoon, good morning.
• 0:05
  Speaker 1: This is Mark Johnson from Loyalty360.
• 0:07
  Speaker 1: I want to welcome you to another edition of our Leaders in Customer Loyalty series, the Industry Voices podcast.
• 0:12
  Speaker 1: In these episodes, we have the privilege of speaking with leading agencies, technology partners and consultants in customer channel and brand loyalty about the technology trends and best practices that impact a brand's ability to drive unique experiences, enhance engagement but, most importantly, impact customer loyalty.
• 0:29
  Speaker 1: Today, we have the pleasure of speaking with michelle sakara yee.
• 0:34
  Speaker 1: She's a vice president of consulting at bond brand loyalty.
• 0:37
  Speaker 1: Welcome, michelle, how are you today?
• 0:39
  Speaker 1: I'm great thanks for having me mark first off, can you tell us about yourself, your current role, withalty, and maybe a little bit about your background?
• 0:47
  Speaker 1: How did you get into customer loyalty?
• 0:50
  Speaker 2: For sure.
• 0:50
  Speaker 2: So I'll start with my current role, vice President of Consulting at Bond Brand Loyalty, and really my focus is to being accountable to Bronze Vision, which is to be a trusted partner to our brands that are really focused on looking to enhance customer engagement in whatever format that looks like to them.
• 1:08
  Speaker 2: Typically, it's to create a more profitable customer base, provide more meaningful and relevant experiences and really career to affinity.
• 1:19
  Speaker 2: Back to the brand.
• 1:19
  Speaker 2: How I got here is really throughout my career.
• 1:21
  Speaker 2: How I got here is really throughout my career.
• 1:23
  Speaker 2: I've always had that connection back to creating more sticky and engaging customer relationships.
• 1:29
  Speaker 2: I spent over a decade on the brand side.
• 1:32
  Speaker 2: Most of that time was with Loblaws, a leading grocer in Canada, as well as a lifestyle brand in Canada as well, called Indigo.
• 1:43
  Speaker 2: In both places, I was focused on driving customer strategy and digital strategy for user engagement features, and prior to that, I spent some time at McCann as well, leading customer engagement.
• 1:54
  Speaker 2: So all that in totality, bond has been a great place to put those tools to use, especially where we know the current landscape is.
• 2:04
  Speaker 2: All brands have identifiable members right now.
• 2:07
  Speaker 2: It's not just through formalized loyalty.
• 2:09
  Speaker 2: So our focus to help brands across their entire known customer base is something that just rings really true to me.
• 2:17
  Speaker 1: Excellent.
• 2:18
  Speaker 1: You talked about Bond being a trusted advisor in the kind of the customer journey, in the brand's journey.
• 2:23
  Speaker 1: I would love to know a little bit more about that and how Bond supports the customer loyalty efforts of these brands that you work with.
• 2:30
  Speaker 2: Yeah, definitely.
• 2:31
  Speaker 2: There is a multitude of ways, and really where we try to to support brands is where they're focused on their growth strategies right now.
• 2:40
  Speaker 2: Ultimately, what we're trying to do is support their engagement strategies in a way that can be sustainable and can have those connection points to evoking loyal behavior.
• 2:52
  Speaker 2: So, whether a brand is looking to design, optimize or just better operationalize a loyalty value prop, it could be they're trying to integrate their data strategy.
• 3:03
  Speaker 2: We know data is very fragmented and getting to that right data strategy to evoke loyalty is a challenge.
• 3:10
  Speaker 2: For most it could look like an optimal communication strategy for their e-com customers, or even just having the right tech stack or leveraging features of the technology most brands have in place.
• 3:23
  Speaker 2: Many of them have licenses, but not fully utilizing the technology of those licenses, and we know that both data and technology are leading foundations and groundwork for any type of loyalty or customer engagement strategy you're looking to drive.
• 3:38
  Speaker 2: So those are just a few flavors of the types of solutions we come in to help with.
• 3:44
  Speaker 1: You mentioned customer loyalty.
• 3:45
  Speaker 1: It should be kind of the ful solutions we come in to help with.
• 3:45
  Speaker 1: You mentioned customer loyalty.
• 3:45
  Speaker 1: It should be kind of the fulcrum for all marketing efforts.
• 3:49
  Speaker 1: At least that's what we believe.
• 3:50
  Speaker 1: But we love talking with individuals like yourself who are so entrenched within the industry.
• 3:54
  Speaker 1: You're seeing things from a multitude of verticals and industries, you know, when you look at customer loyalty, how do you and Bond define customer loyalty and what does it mean to you and the brands that you work with?
• 4:07
  Speaker 2: For me and for Bond, I think it's the same.
• 4:09
  Speaker 2: Where we think of loyalty as the basis of that word.
• 4:13
  Speaker 2: It's an emotional connection, right?
• 4:15
  Speaker 2: It's ultimately positive sentiments all the way to devotion and irrational behavior.
• 4:21
  Speaker 2: And what that means for brands pursuing loyalty is how do you get consumers to choose your brand repeatedly, despite having options?
• 4:30
  Speaker 2: That means they're driving further.
• 4:32
  Speaker 2: That means they're coming to you even though you're not the cheapest option.
• 4:37
  Speaker 2: And so when we're helping brands with loyalty strategies, it's not just about repeat transactions.
• 4:44
  Speaker 2: It's about how can we look to understand the optimal conditions that meet the customer needs, as well as where the brand is looking to grow, and how can we build smarter engagement strategies or a better program design, a more relevant benefits mix, Ultimately looking at how can we plant the seeds where loyalty as an outcome can fundamentally grow.
• 5:08
  Speaker 1: Okay.
• 5:09
  Speaker 1: In our most recent customer loyalty state of customer loyalty report, we saw that 79% of brands have an interest in updating, enhancing or redoing their customer loyalty programs.
• 5:19
  Speaker 1: The customer loyalty focus what are you seeing in that regard?
• 5:22
  Speaker 1: Do you see specific industries leading the charge in loyalty program innovation?
• 5:26
  Speaker 1: If so, which ones?
• 5:29
  Speaker 2: Great question.
• 5:30
  Speaker 2: I think it looks a bit different, dependent on sectors, brands, dependent on the industry they're in, is leading innovation a little bit differently and I'll break that down for you.
• 5:41
  Speaker 2: If you think about retail apparel, they're almost the grandfathers of loyalty, if you will, and what we're seeing is they really are transforming their programs into becoming more connectors of lifestyle, if you will, integrating more closely into brand values and how consumers are seeing those values as a reflection of themselves.
• 6:05
  Speaker 2: So great examples Pantagonia, rei.
• 6:09
  Speaker 2: You can see how they are leaning into things like a repair program or outdoor workshops with REI.
• 6:16
  Speaker 2: And these are things beyond just transactions to help live the brand values and also help customers have experiences within loyalty that connect more to why they come to that brand in the first place.
• 6:30
  Speaker 2: Then you see brands like Adidas and Lululemon following Nike's footsteps on integrating fitness and wellness, building more of that emotional connection.
• 6:41
  Speaker 2: So in retail we're seeing it far transcend just transactional value.
• 6:45
  Speaker 2: And in another sector grocery very different, highly commoditized we're seeing them innovate more to the tune of data right, how can they use data to give customers more informed choices?
• 6:59
  Speaker 2: Broadening the value prop beyond transaction through partnerships.
• 7:03
  Speaker 2: We saw a lot of grocers get into fuel partnerships.
• 7:07
  Speaker 2: Now we're starting to see the segmentation of more financial service partnerships and even going into aspirational like travel.
• 7:15
  Speaker 2: So we're starting to see how they're expanding their value prop, getting more into nutrition, health and wellness, as well as just more dynamic communications because of the data that they're enabled with.
• 7:29
  Speaker 1: Okay, you touched on a little bit the focus on real-time personalization.
• 7:35
  Speaker 1: Real-time engagement is a big push for many verticals, but there can be some challenges Technology is the ZRI substantiated?
• 7:44
  Speaker 1: Do you have the right data?
• 7:45
  Speaker 1: Can you use the right orchestration engine to get to that?
• 7:48
  Speaker 1: When you look at some of those challenges, what are the barriers that you are seeing with regard to, maybe, technology or organizational challenges, and how can brands overcome some of these challenges?
• 8:00
  Speaker 2: Sure, specifically on the data side, I think what we're still seeing is brands, they have the data.
• 8:09
  Speaker 2: They're just very much still fragmented.
• 8:12
  Speaker 2: It's sitting in different systems loyalty, pos, crm, e-commerce and it's not as usable in real time as they need it to be against the strategies they're trying to develop.
• 8:24
  Speaker 2: So it's really about how do we get them to think about an integrated data ecosystem and then, once they have that ecosystem, the second gap that we're seeing is then marrying action and insights, because it's one thing to now have the knowledge of data and learn about the behaviors, but then you need to make sure you're elevating that with the right opportunities to drive behavior.
• 8:49
  Speaker 2: And where technology fits in is, you know, you need to have the right technology platform that that data can then be supported through and, as I mentioned before, a lot of firms and a lot of brands have licenses that they're sitting on and maybe multitude of technology platforms.
• 9:07
  Speaker 2: Are they using the right features of their tech stack?
• 9:10
  Speaker 2: Where can they optimize the tech stack to do more of what they're trying to do and also bridging the gap between the technology roadmap and the customer engagement and loyalty roadmap.
• 9:22
  Speaker 2: The two things need to kind of drive a little bit more in harmony so that the outcome is achievable across the organization.
• 9:30
  Speaker 1: Okay, the number of different technologies out there Okay, there are a number of different technologies out there.
• 9:38
  Speaker 1: Ai in all forms and fashion is that just a new regression analytics model that can be tweaked?
• 9:42
  Speaker 1: Gamification, different parts of data platforms you mentioned everyone has the right data, but now you're getting more data.
• 9:47
  Speaker 1: Right.
• 9:48
  Speaker 1: You have zero-party data, first-party data, third-party data.
• 9:50
  Speaker 1: We look at some of these new technologies.
• 9:52
  Speaker 1: The focus on data, market orchestration Are there technologies out there that you feel are most important, that brands should be considering when looking at enhancing their customer loyalty efforts?
• 10:04
  Speaker 2: I think it's really based on optimizing what they have in-house.
• 10:08
  Speaker 2: I think most brands where they're at.
• 10:09
  Speaker 2: It's hard to fundamentally change a platform without a severe repercussion because, as I said, a lot of them have identifiable customers.
• 10:21
  Speaker 2: They're communicating to those customers.
• 10:22
  Speaker 2: It's a pretty big change.
• 10:24
  Speaker 2: So it's about how do we make sure they're planning the right strategy to the technology they have, how do they find the right partnership and the right synergy between those technology and operating systems?
• 10:38
  Speaker 2: And then it's how do they using AI as an enabler.
• 10:41
  Speaker 2: So once they have that data strategy in place, you know, in order to do things like gamification, without having the right strategy and the right enablers, gamification just becomes a tactic and we want to make sure that they're using that in the right format, especially when we start thinking about the increase of zero party data and how fundamental that is becoming to integrating and personalizing loyalty experiences.
• 11:07
  Speaker 1: Okay, when you look at your clients, obviously you work in a number of different industries.
• 11:12
  Speaker 1: What is working right now when it comes to building successful relationships with their customers, successful customer loyalty programs and strategies?
• 11:20
  Speaker 1: Can you give us an example of two or things that are working within kind of your client base?
• 11:25
  Speaker 2: Sure, the one that comes to mind that's pretty close to a lot of what we've been talking about right now is one of our clients, Bath and Body Works, and what they're doing right is loyalty is integrated into the overall brand and their business strategy.
• 11:42
  Speaker 2: It's not treated as a standalone program, and why that is really effective is because I think their earnings report just came out a few weeks ago, is because I think their earnings report just came out a few weeks ago and they talked about 39 million members.
• 11:57
  Speaker 2: They're seeing growth across all categories, they're seeing higher than before retention rates and it's all driven back to majority of sales coming through these loyalty members, and so they're really thinking organizationally wide about how they deliver value and customer experiences.
• 12:16
  Speaker 2: That are part and parcel of the loyalty program.
• 12:19
  Speaker 2: Whereas with some brands it's treated as a program, it's treated as a points or perks system, and so you have different strategies that might be competing with each other, and what I'll say with Bath and Body Works is they've also done a great job about being culturally relevant, and we hear from brands a lot how do we differentiate, how do we tune into the younger demographic?
• 12:44
  Speaker 2: And what Bath and Body Works has recently talked about is their partnerships, collaborations with Disney, Bridgerton, Stranger Things You'll see that they are really tuning into what matters to their customer base, what's creating memorable connections, what creates excitement.
• 13:01
  Speaker 2: And when we talk about loyalty as an outcome and brand affinity, you see how these things go hand in hand together.
• 13:07
  Speaker 2: So to me, that's the program that really stands out.
• 13:11
  Speaker 2: Loblaws a Canadian grocer that really stands out.
• 13:18
  Speaker 2: Loblaws a Canadian grocer is another example where loyalty is a core.
• 13:19
  Speaker 2: It's the nucleus to their larger business and it's integrated into everything they do.
• 13:23
  Speaker 2: Whether it's offer generation, whether it's content or whether it's retail media networking that they're getting into, Loyalty is a fundamental strategy of their business as a whole.
• 13:36
  Speaker 1: Okay, when you look at customer loyalty programs, we always like to ask are there some programs you find yourself loyal to from a customer loyalty perspective and engagement perspective, and if so, what do you like about their offerings?
• 13:49
  Speaker 2: So this might sound like a broken record because you probably hear it a lot Sephora.
• 13:53
  Speaker 2: This might sound like a broken record because you probably hear it a lot, Sephora.
• 13:56
  Speaker 2: I would say they've done a great job at consistently thinking about how to optimize their program and it's just not, you know, great.
• 14:04
  Speaker 2: They had a leading loyalty program.
• 14:06
  Speaker 2: They're leaving it alone and letting it kind of continue to create value.
• 14:10
  Speaker 2: They are really focused on how do I continue to listen to what my customer needs are, how do I continue to be relevant, how do I not just have a program that's surviving but thriving?
• 14:22
  Speaker 2: And so for me, you know through you know, been using Sephora for decades, been a part of their program almost since inception, and it's still really interesting to me as a consumer to see how they've kept up with my own changing needs, how they've kept up with a very aggressive competitive market changing landscape, not just with competitors in their same vicinity but even with organizations like Amazon.
• 14:52
  Speaker 2: So that is one that I find personally very interesting.
• 14:57
  Speaker 2: And a second one is McDonald's, and for me, I got reintroduced to it through my teenage son and getting to see the program from his eyes and seeing how the way they approach convenience as a part of their program really speaks to how immersed and how relevant it is for him.
• 15:19
  Speaker 2: They make it easy to engage, it's top of mind and they are evoking those emotional habits and those loyalty triggers truly by just tapping into the right digital experiences.
• 15:31
  Speaker 2: So those are the two that really stand out for me.
• 15:35
  Speaker 1: Okay, excellent when you look at 2025, challenging politically, socioeconomically.
• 15:42
  Speaker 1: There's some challenges out there.
• 15:48
  Speaker 1: How do you think consumer expectations are evolving going through 2025?
• 15:50
  Speaker 1: And how should brands, should I say, be prepared to kind of meet them on the second half of the year?
• 15:56
  Speaker 2: Great question.
• 15:57
  Speaker 2: We always talk about how loyalty is ever evolving.
• 16:00
  Speaker 2: I don't think that stands true more than it does at this time.
• 16:03
  Speaker 2: You know, what used to work a year or two ago isn't guaranteed.
• 16:08
  Speaker 2: In fact, what used to work six months ago is probably not guaranteed anymore Because there's so much uncertainty in the economic environment.
• 16:17
  Speaker 2: But there's also so much choice and so many brands coming to consumers with very similar propositions.
• 16:24
  Speaker 2: So I think what's important is brands really need to stay close to their customer needs, the intersection of those needs to where the brand is trying to grow and their growth objectives, but also understand how do they execute organizationally wide and create those synergies, because that's really where it comes to life is, you know, understanding how you're going to meet customers where they're at, understanding how we as an org deliver on the same promise and the same value, whether that's online, whether that in store, whether it's online, whether that in-store, whether it's through an employee or an associate connection or whether it's through an app.
• 17:02
  Speaker 2: There are so many channels of choice and so much engagement that for us at Bond, we're committed to staying at the forefront of those consumer needs, helping brands refine and evolve and understand not only those shifts in customer expectations, but the shifts in the market landscape.
• 17:20
  Speaker 2: We're seeing new competitors, we're seeing a grocer competing with Netflix in terms of the customer expectation on convenience and choice, and so we need to understand those parallels in the market and where a consumer is looking at their experience holistically, not just based on the sector that you happen to be engaging with them in.
• 17:43
  Speaker 1: Okay, any closing thoughts or pieces of advice for our customers.
• 17:47
  Speaker 1: Maybe even what's Bond brand loyalty looking to do for the remainder of 2025?
• 17:55
  Speaker 2: For us as we continue into 2025, 2025?
• 18:01
  Speaker 2: For us as we continue into 2025, it's really encouraging our customers to think across their known customer base, because customer engagement isn't just a silo within your loyalty program.
• 18:07
  Speaker 2: It's beyond points, it's beyond perks.
• 18:10
  Speaker 2: So how do we help our customers think across brand engagement and brand intersections overall and really start thinking about rigor in everything to do with the experiences you're creating?
• 18:25
  Speaker 2: How do you make them more relevant, more meaningful?
• 18:27
  Speaker 2: How do you think about your data strategy across your known customer base?
• 18:32
  Speaker 2: And then also, how do you think about your operating P&L?
• 18:35
  Speaker 2: It may not be the most interesting thing but, as you said, in this economic landscape, paying attention to just your operating P&L becomes so important to make sure you have the right forecast, the right targets.
• 18:49
  Speaker 2: You're starting to gauge where you're seeing shifts and patterns, connecting that back to what you're hearing from customers, you're seeing in the data and, ultimately, our focus is to be a good partner that our clients trust and that we can together help them achieve more sustainable and more sticky growth.
• 19:08
  Speaker 1: OK, thank you very much.
• 19:09
  Speaker 1: That's a very interesting perspective.
• 19:11
  Speaker 1: I said you guys are definitely one of the leading agencies and technology partners for customer loyalty, customer experience, so it's always great to hear from one of the leaders and what they're seeing and hearing.
• 19:20
  Speaker 1: So thank you for taking the time.
• 19:22
  Speaker 2: Appreciate your time, Mark.
• 19:23
  Speaker 2: It was great talking to you.
• 19:25
  Speaker 1: Well, hold on, hold on.
• 19:26
  Speaker 1: We have our quickfire question section.
• 19:28
  Speaker 1: Okay, we like to ask these questions, or a series of questions.
• 19:33
  Speaker 1: Keep them short, or I get in trouble with Nick and the content team, and I'm always in trouble with those guys, so like I can get out for once.
• 19:44
  Speaker 2: But the first question we have is what is your favorite?
• 19:50
  Speaker 1: word Possible.
• 19:50
  Speaker 1: What is your least favorite word?
• 19:52
  Speaker 2: Can't.
• 19:54
  Speaker 1: What excites you?
• 19:56
  Speaker 2: A challenge that I haven't encountered before.
• 19:59
  Speaker 1: Awesome.
• 19:59
  Speaker 1: Is there a book that you've read, that you find interesting and helpful, that you'd like to recommend to colleagues?
• 20:05
  Speaker 2: Oh, yes, I actually have it right here Designing for Behavioral Change.
• 20:08
  Speaker 2: So a colleague recommended this to me.
• 20:12
  Speaker 2: So Bond has an institute that's really focused in understanding consumer behavior and one of my colleagues recommended this and it's such a great tool to understand the psychology of consumer behavior, which is just so apparent in today's market, especially as we just talked about customer engagement.
• 20:29
  Speaker 2: So designing for behavioral change definitely a record.
• 20:32
  Speaker 1: Okay.
• 20:33
  Speaker 1: Is there a profession, other than the one that you're currently in, that you would like to attempt?
• 20:38
  Speaker 2: No, it's psychology.
• 20:40
  Speaker 1: Okay, is there something that you enjoy?
• 20:47
  Speaker 2: doing that you don't often get the time to do.
• 20:48
  Speaker 2: Oh, just explore more restaurants and see what new things are in the city.
• 20:53
  Speaker 2: Don't get to do that enough.
• 20:54
  Speaker 1: Okay, who inspired you to become?
• 20:58
  Speaker 2: the person that you are today.
• 20:58
  Speaker 2: Oh, several people, definitely not just one that stands out.
• 21:03
  Speaker 2: I've had the tremendous privilege of having a lot of mentors, both personally and professionally.
• 21:09
  Speaker 2: Too many to name, but yeah.
• 21:14
  Speaker 1: Excellent.
• 21:18
  Speaker 2: What do you typically think about at the end of the day?
• 21:19
  Speaker 2: I'm about tomorrow and what I need to tackle.
• 21:21
  Speaker 2: And the last question how do you want to be remembered by friends and family, someone who's loyal?
• 21:30
  Speaker 1: That's awesome.
• 21:30
  Speaker 1: Loyal loyalty that's good to have that focus.
• 21:33
  Speaker 1: Yes, well, michelle, thank you very much for taking the time to speak with us today.
• 21:37
  Speaker 1: It's great having you on the Leaders and Customer Loyalty series, the Industry Voices podcast, great getting your perspective on customer loyalty, and look forward to learning more from you and Bond throughout the remainder of 2025.
• 21:54
  Speaker 2: So thank you very much.
• 21:55
  Speaker 1: Thank you, Mark.
• 21:55
  Speaker 1: I'm excited to see what you guys have coming up as well for a lot of brands to engage with.
• 21:57
  Speaker 1: Excellent, Great Well.
• 21:57
  Speaker 1: Thank you very much, everyone else, for taking the time to listen today.
• 21:59
  Speaker 1: If you haven't already, please subscribe to the Leaders in Customer Loyalty podcast below and follow us on YouTube as well the links are definitely provided below and again, join us every Wednesday when we release a new edition of our Industry Voices podcast.
• 22:13
  Speaker 1: Until then, have a wonderful day.