Thread
Traditional rewards programs are simple
๐น Users earn points when they buy the product
๐น Points can be redeemed for more of the product
๐น There are different levels based on your points
But there's one big problem
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๐น Users earn points when they buy the product
๐น Points can be redeemed for more of the product
๐น There are different levels based on your points
But there's one big problem
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Your points are trapped!
If you decide you don't want to eat at that restaurant again, you can't do anything about it
Your points are now worthless
It turns out you don't really 'own' your points
The company does
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If you decide you don't want to eat at that restaurant again, you can't do anything about it
Your points are now worthless
It turns out you don't really 'own' your points
The company does
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That's where @Starbucks comes in
Their Odyssey rewards program allows users to OWN their loyalty
And most importantly, sell their loyalty
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Their Odyssey rewards program allows users to OWN their loyalty
And most importantly, sell their loyalty
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Customers complete tasks to earn earn Digital Stamps
Tasks include:
- Learning about the history of Starbucks
- Watching a video on coffee beans
- Purchasing a coffee 5 weeks in a row
Starbucks wants us to be part of their community
And they're paying us to do it...
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Tasks include:
- Learning about the history of Starbucks
- Watching a video on coffee beans
- Purchasing a coffee 5 weeks in a row
Starbucks wants us to be part of their community
And they're paying us to do it...
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Instead of being trapped, users can sell their stamps
And there is a HUGE market for it
People have spent over $1M buying and selling these stamps
Here's why.
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And there is a HUGE market for it
People have spent over $1M buying and selling these stamps
Here's why.
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Stamps earn you points
Points can be redeemed for experiences:
๐น Virtual Coffee Classes
๐น Name a coffee tree
๐น An exclusive visit to a Starbucks Reserve store
And if these don't sound cool
Then you can sell your stamp to someone else
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Points can be redeemed for experiences:
๐น Virtual Coffee Classes
๐น Name a coffee tree
๐น An exclusive visit to a Starbucks Reserve store
And if these don't sound cool
Then you can sell your stamp to someone else
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The next phase of the internet is built around ownership
Ownership of your own data, your loyalty, your brand
Starbucks understands this and every other company will be forced to follow
(8/9)
Ownership of your own data, your loyalty, your brand
Starbucks understands this and every other company will be forced to follow
(8/9)
If you want to learn more about how companies are paving the next wave of the internet, I have a free weekly newsletter (link in bio)
Subscribe now and thanks for reading!
(9/9)
Subscribe now and thanks for reading!
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