Episode 49 Web3 Loyalty Programs

Episode 49: Web3 Loyalty Programs

Episode 49

Web3 Loyalty Programs

Adam Brotman is the co-CEO of Forum3 and former Chief Digital Officer of Starbucks. We cover how consumer loyalty programs are a quid pro quo, why NFTs are great engagement tools for brand marketers, and why digital collectibles should be decentralized.

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[00:01:57] - [First question] - A background sketch of his early career in the digital world working with Starbucks

[00:03:47] - How Starbucks felt about moving to digital back in 2008  

[00:06:25] - The vision to turn a coffee company into a tech platform company 

[00:08:55] - Moments where they felt they were pushing the edge of what digital could be

[00:11:04] - Going from digitizing Starbucks to stepping into the crypto space 

[00:16:33] - Consumer brand loyalty is a quid pro quo and loyalty program economic tuning

[00:19:09] - Early thoughts on consumer brand loyalty and NFTs colliding 

[00:22:23] - The initial reactions to an augmented loyalty program 

[00:23:55] - What Starbucks Odyssey is and what they plan to do with it

[00:26:29] - The ideal customer that Starbucks Odyssey is designed for 

[00:28:29] - Why use a blockchain for Odyssey instead of a central database 

[00:31:20] - Big brands concerns about moving their customers onto public blockchains

[00:34:37] - Competitive brand perceptions in a memetic sense

[00:35:45] - Other exciting projects he’s working on currently

[00:37:25] - A good example of collaboration that benefited the customer

[00:39:29] - What’s he’s most excited to see built over the next six months and six years

Web3 Loyalty Programs

Introduction

Eric
This is Eric Golden. My guest today is Adam Brotman. Adam was the former Chief Digital Officer of Starbucks, where he built out their immensely successful rewards program and digital platform. Today, he is the Co-CEO of Forum3, and he recently helped Starbucks design their new Web3 experience called Starbucks Odyssey. In our conversation, we discuss how consumer loyalty programs are a quid pro quo, why NFTs are great engagement tools for brand marketers, and why digital collectibles should be decentralized. Please enjoy this conversation with Adam Brotman.

Building Starbucks' Loyalty Program

Eric
Adam, I feel really lucky that I got to meet you through crypto and NFTs. It's kind of how I've gotten very lucky to meet some really interesting people. Before we dive into NFTs and some of your views, which I think are absolutely fascinating, your career as Chief Digital Officer of Starbucks, CEO of J.Crew, you've done a lot of amazing things before you took on the world of NFTs. So maybe give the audience kind of a background sketch of your early career in digital at Starbucks.

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