This masterclass provides a practical and comprehensive understanding of the commercial engines behind loyalty program performance. You’ll explore how program design and currency structure influence value, and how loyalty programs create or lose profit across different levers.

You’ll learn how to build a defensible business case, manage deferred revenue and breakage, and understand the differences between cashflow and P&L. The course also covers accurate measurement using incrementality, attribution, uplift, and Customer Lifetime Value.

Finally, you’ll apply Return on Loyalty® to guide decisions and explore future trends including retail media, points marketplaces, and the evolving valuation of loyalty business units.

David has over 20 years’ experience in loyalty, data and customer strategy, gained through senior roles in global loyalty, consulting and marketing organisations. Before co-founding Ellipsis, he held executive positions leading major customer programs for brands across banking, retail, insurance, travel and telecommunications in Australia, Europe and the Asia Pacific region.

Throughout his career, David has developed deep expertise in customer-centric strategy and data-led decision making, working with some of the world’s best-known brands to improve loyalty performance and commercial outcomes. His experience has shown both the powerful impact of true customer-centricity — and how challenging it can be for organisations to achieve without specialist support.

David is a long-standing contributor to the global loyalty community and has led more than 100 customer and loyalty projects across multiple markets, combining practical experience with rigorous, evidence-based insight.

In 2014, David co-founded Ellipsis, The Loyalty Experts®, an organisation dedicated to helping companies navigate the journey to customer-centricity through data-driven strategy, loyalty design and performance optimisation.