incentive.design

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Chapter 01

Landscape

The state of loyalty across the market. Who's winning, who's losing, and the structural reasons why.

What's your vertical?

Chapter 02

The Signal

What executives say on earnings calls about their loyalty programs — and what they actually mean.

Ask the analyst

What hidden signals are emerging from the latest earnings calls across loyalty programs? Decode what executives are actually telling investors about the future of their programs.

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Chapter 03

Economics

Deferred revenue, breakage rates, and the hidden financial mechanics that drive program valuations.

Ask the analyst

What do SEC 10-K filings reveal about deferred revenue and breakage rates across major loyalty programs? Which programs have the most favorable unit economics and why?

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Chapter 04

Design

What separates great program architecture from mediocre — tier thresholds, earn rates, and aspirational value.

Ask the analyst

What separates a well-designed tier system from a poorly designed one? Analyze specific examples of programs that get tier thresholds, benefits, and aspirational value right vs wrong.

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Chapter 05

Intelligence

Patterns only visible at scale. Emerging shifts in how programs handle earn rates, partner economics, and engagement.

Ask the analyst

What emerging structural shifts are appearing across loyalty programs? Identify patterns in how programs handle earn rates, partner economics, and member engagement.

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Chapter 06

Edge

Your competitive advantage starts here. Consulting-level intelligence, on demand.

Ask the analyst

If you were advising a mid-market retailer launching a new loyalty program today, what specific structural decisions would give them the strongest competitive position? Be specific about earn rates, tier thresholds, and partnership strategy.

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