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Slow Speed begins at: 1:35
Explanation begins at: 4:48
Normal Speed begins at: 20:07
Wynn: I’ve come up with a surefire way to bring in more business.
Wynn: We’ll start a customer loyalty program. All of the big businesses have them.
Dixie: I’m not sure how they work.
Wynn: They’re mainly point-based systems. Our customers sign up and we’ll give them a membership card or keychain tag with a barcode. Each time they make a purchase, they get points. Once they’ve accumulated enough points, they can redeem them for rewards.
Dixie: Okay, but what’s this?
Wynn: It’s a punch card. Each time a customer buys something over $25, they get a punch. When they’ve received 10 punches, they get a $10 discount.
Dixie: I understand all that, but what is this chart for?
Wynn: It shows our new tiered system. Customers who spend over $1,000 a year are on the blue level, those who spend more than $5,000 are on the red level, and those who spend $10,000 are on the gold level. We’ll have incentives to get people to move up the ladder.
Dixie: So which of these customer loyalty programs are we adopting?
Wynn: All of them.
Dixie: Huh? How are customers supposed to keep track of all of these programs?
Wynn: Good question. See this? It’s a free wallet we’ll be giving away. Customers can keep all of their customer loyalty cards in it. Isn’t it nice?
Dixie: It’s nice, but will people really use it?
Wynn: You’ve got a point. Maybe we should come up with a reward program for those who do. Hey, that’s brilliant!
Script by Dr. Lucy Tse