Customers don’t build loyalty around free stuff nearly as much as brands THINK they do. Most loyalty programs still operate like corporate junk drawers. Collect enough points and eventually you can redeem them for a branded coffee mug (Hooray!), tote bag, discount coupon, or some blandly upgraded version of the thing you already bought. And then companies wonder why engagement sucks. A new study analyzing experiential versus material rewards found that experiences consistently drove stronger...