Head of Loyalty Reward Value

Virgin Red Loyalty · London, London, City of
Department Virgin Red Loyalty
Employment Type Permanent, Full-Time

The Virgin group - a unique group of companies changing business for good, giving customers more choice and better service whilst having fun along the way. Taking bold from finance to health to travel to space. What these companies haven’t been before is truly connected...that is, until Virgin Red was created.      

 

Ooh, I’m intrigued  

Virgin Red is about rewarding customers for living a life more Virgin. Customers are able to earn and spend a new kind of currency, Virgin Points, across a wide range of partners and Virgin companies - giving them access to both everyday rewards and a curated list of exclusive experiences. And by being the hub connecting the Virgin companies we can get a deeper understanding of our customers and open up new opportunities for our partners.    

It’s bold, unique and customer experience driven - Virgin in a nutshell.  

 

Tell me more  

The work pace is fast, the business is evolving, challenges are plentiful, and our expectations are high. But if all that’s ok with you we live up to our Virgin Red purpose of Rewarding Relationships... fancy unlimited holiday and weekly yoga? It’s all part of the Virgin Red package. Plus, we have our inclusion, wellbeing and Points with Purpose strategy in place and being developed further as we speak - we’re starting as we mean to go on.  

Some of the benefits we can quantify - healthcare and dental schemes; a free full health assessment after 1 year and pension contributions up to 6% of salary.  

...And some we can’t - membership of Tribe, our Virgin group wide discount scheme; flexible working; ‘Welcome to Virgin Red’ points and access to our employee points purchase scheme. These ones you just have to put your own value on!  


The role: 

This role is an evolution of Virgin Red’s expansion and the growing nature of Virgin’s loyalty rewards within the Virgin group, this is a brand new role within the business. This role will be the subject matter expert in relation to a wide range of redemption initiatives, plans and value creation across the Virgin Points currency. Leading business planning in relation to redemption costs (both short and longer term), whilst driving an operational model to showcase customer value on redemption, leading to increased collection of the loyalty currency.


Key responsibilities:

  • Shape, create and delivery redemption initiatives / plans across the loyalty partner portfolio which drive customer engagement with spending points and reengaging customers with collecting more points 
  • Become the subject matter expert for value creation across the currency, shaping plans both short and long term to showcase a range of values 
  • Accountable for driving redemption activity, aligned to the business plans you support including core KPIs of loyalty reward costs / margin and points redeemed, cost per points (CPP), customer perceived value (CPV), redemption vs collection ratio 
  • Build a healthy tension between cost control (Finance) and loyalty value (Commercial), finding the right places to invest in value to drive engagement vs the everyday value 
  • Become a single point of contact for VRL / VML in relation to loyalty value, collaborating closely with Finance, Customer, Marketing and Commercial to deliver consistency across the approach to currency value  
  • In collaboration with partner leads, lead the commercial analysis and the financial budget planning inputs and forecasting process for loyalty rewards (redemption) across all partners, including the ongoing tracking of performance against targets 
  • Stakeholder management of key personnel across a portfolio of Virgin group and third-party companies, potentially based across different geographical locations. Lead and implement VRL’s redemption partner development strategy, collaborating with the accountable partner owners  
  • Accountable for collaborating with the contract management process to ensure value and redemption is appropriately incorporated within new / renewed contacts 
  • Proactively build strong VRL / partner relationships to constantly drive to innovate our redemption management approach, striving for industry leading rewards / redemptions 
  • Collaboratively work cross functionally both internally and externally throughout the businesses to ensure company plans and objectives are monitored, adjusted, and delivered or exceeded where possible in relation to loyalty rewards and value 
  • Utilising market intelligence, member insights and MI, proactively identify new redemption / reward value opportunities across the currency, building commercially viable and sustainable business cases to support the development of new concepts which can be turned into member facing propositions 
  • Potentially responsible for the management and development of team a member(s) who will be working towards shared targets and objectives whilst supporting the delivery of the agreed plans. Lead, motivate and coach individuals to seek their best performance, always striving for rewarding relationships 
  • Take a leading role within bespoke project work from time and time  


For this role we need you to be/have:

  • Extensive experience in loyalty / sales and customer value at multiples levels in an organisation with direct partner stakeholder management contact, including working in the travel, leisure, loyalty, or reward program sectors within recent years 
  • A self-starter who can work in a matrix environment, collaborating with and inspiring others 
  • Ability to manage multiple initiatives across a variety of sectors / industries 
  • Strong influencing, negotiating and organisation skills with a track record of delivering commercial analysis which delivers against business goals  
  • Excellent written and presentation skills (including experience with MS Office, Teams, Slack, Monday.com., digital social comms platforms) with the ability gain buy-in from others  
  • Thrives in an environment where there’s nowhere to hide, only numerous opportunities to get noticed 
  • Can demonstrate experience in developing longer term commercial strategies, whilst showing the tactical ability to innovatively deliver short term engagement targets 
  • Enthusiastic, highly organised, can do & customer first attitude, adaptable and add value to a growing business  
  • Able to think on their feet and their own initiative to solve problems and deliver creative solutions 
  • Not afraid to make the difficult decisions. See opportunities not problems 


Are you ready to join a brand that is passionate about dreaming big and changing business for good? 

 
Some of the attributes that define a Virgin person just can’t be quantified in words. We pride ourselves on welcoming people from all walks of life, with all sorts of skill sets. Most recently, Virgin successfully campaigned to add ‘Dyslexic Thinking’ as a skill on LinkedIn. Any uniqueness is a strength and will be considered an asset to our workforce. 
 

If you're excited about making every day more rewarding and think you have what we're looking for, even if you don’t tick every box on the job description, we'd love to hear from you. 

 
As part of your application, you will be required to confirm that you have read and understood our Candidate Privacy Notice and agree to us processing your personal data in accordance with this notice.


So, sound like the role for you? If so hit the apply button because we want to hear from you! 


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  • Location
    London, London, City of
  • Department
    Virgin Red Loyalty
  • Employment Type
    Permanent, Full-Time