33voices interviews Rajat Paharia, Chief Product Officer at Bunchball.
Loyalty 3.0
Loyalty is one of life’s most important virtues – and for me, it’s the hallmark of any relationship; both personally and professionally. To my friends, my loyalty is unconditional; but to brands, it’s constantly being earned.
There’s much that we can learn from iconic brands such as Apple, Harley Davidson and Amazon on how they command such advocacy, but the one company that has grabbed my attention lately has been Red Bull. For the record, I don’t drink Red Bull, but I have great admiration for how they’ve evolved as a brand. From the beginning, Dietrich Mateschitz launched Red Bull as a lifestyle brand – one that ‘gives you wings…’ he describes it as ‘an invitation as well as a request to be active, performance-oriented, alert and to take challenges.’ Red Bull has become a one of a kind brand, and what sets them apart are the compelling experiences that they create; “all carefully crafted to ‘give you wings.'”
In Rajat Paharia‘s latest book, Loyalty 3.0, the Bunchball founder redefines Loyalty to include a combination of Motivation, Big Data, and Gamification, which is a page right out of Red Bull’s playbook. Here’s what you can learn: