Understanding the emerging trends in Luxury Loyalty with John Russo

Welcome to The Future of Loyalty Podcast, with me, Tom Peace. The Future of Loyalty are a series of informative and engaging podcasts with a laser focus on the emerging trends within the customer loyalty, engagement and CRM sector.

I invite industry leaders and subject matter experts to discuss future developments in customer strategy and all our discussions are focused on where the industry is going next. Our discussions are fuelled by a passion for new developments and innovations in the sector and we aim for about 20 minutes, perfect for your coffee break, lunchtime or your journey home.

In this episode I am joined by John Russo , CEO of Maddox Gallery, a powerful disruptor in the contemporary and modern art world. Maddox provide art advisory, purchase and investment opportunities and have offices in London and Gstaad, Switzerland. Maddox have a global customer base of art lovers so customer loyalty is an extremely important initiative for John!

Many believe loyalty programs can't work in the luxury sector, and that's true of a traditional points/offers based program, but actually this is where it works best - if you do it right! Listen in to hear John talk about the importance of loyalty in the luxury sector and how it defers from more mainstream categories.

We discuss how luxury brands have to create a story for customers, through advice and a fully immersive experience. John provides excellent examples of how Maddox achieves this and how other luxury brands create similar experiences for their members.

We also engage in a heated debate around the use of NFT to create value (or NOT) in the luxury sector. John has some extremely strong views on how NFTs have genuinely been a disaster for the sector and absolutely not a solution for loyalty - well worth a listen!

I understand and totally agree with John actually, but we do also discuss some sensible and efficient use of blockchain technology for loyalty that create advantages and cost savings for businesses in any sector. NFT is dead, long live the Blockchain!

Hope you enjoy the podcast!

If you liked this podcast, why not subscribe to get all our loyalty content straight to your inbox. The Loyalty People are the fast growing global community of loyalty, CRM and customer engagement professionals and it's completely FREE to join.