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Flip the Funnel: How to Use Existing Customers to Gain New Ones by Joseph Jaffe

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CASHING OUT

What ultimately protects the structure and longevity of a customer activation model is that this is really nothing more than a (highly evolved) loyalty program, with the inherent ability to very explicitly, tangibly, and publicly acknowledge the invaluable role customers play in furthering the brand’s health and the business’s growth. By utilizing a universal currency system, there really is no actual currency—that is, money—that changes hands, but instead a barter system of value exchange built on or around the product or brand experience itself (“on brand”).
Miles or points can be traded for branded services or experiences, accessories, or upgrades and, in the case of an IP marketplace, status, social capital, or additional perks. Using a point system to arbitrate between action and engagement on the one hand and compensation on the other creates a buffer of protection that essentially insulates—and even strengthens—the customer community from outside or external pressures.

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