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Sephora’s Beauty Insider program uses gamification to engage customers. It offers tiered rewards and limited-time prizes in a “Rewards Bazaar,” encouraging members to move up tiers. This strategy has led to 17 million members accounting for 80% of Sephora’s sales, boosting cross-selling and upselling. It’s a unique approach for mid-sized companies to increase customer engagement and sales.
LEGO runs LEGO Ideas, an open innovation community where fans submit ideas for new LEGO sets. Members vote on ideas, and selected designs become commercial products, with creators receiving 1% royalties. This unconventional approach turns customers into brand ambassadors and sources of innovation, a strategy mid-sized companies could adapt to engage customers and drive product development.
By Maureen Burns, Andrew Pierce and Basma Abdel Motaal | SEP 13, 2024
Read the original article at HBR
Yahoo Finance – David Ulevitch from Andreessen Horowitz criticizes Google for employing people in redundant roles, impacting innovation and shareholder returns. Despite controversy, Google’s projects continue, showcasing varied outcomes and prompting discussions about workforce skills and outsourcing.