Several inefficiencies cause traditional loyalty programs to miss out on their full potential. Blockchain can transform the industry for businesses everywhere. We will elaborate on how blockchain can solve the inefficiencies once applied with the right approach for consumers: through a results-driven mobile application.
Successful loyalty programs come with several benefits for businesses. You can think of a positive brand image and sustainable brand loyalty, with increased revenue as the main goal. By solving the inefficiencies in a proper way, the list of benefits can expand a lot.
A Deloitte research defined the following inefficiencies traditional loyalty programs experience:
☑️ High transaction costs
☑️ Costly system management
☑️ Overall account inactivity
☑️ Low redemption rates
☑️ Expensive customer acquisition
☑️ Poor program engagement
For businesses that run loyalty programs, customer inactivity is a common issue. Unclaimed rewards are liabilities on a company’s balance sheet. Essentially, companies with a lot of outstanding loyalty rewards, have a lot of outstanding debt.
… the percentage of points that go unspent can be as high as 85% — Forbes
Our blockchain-based loyalty and marketing solution helps you grow your user base and maximize customer retention. We know how to keep your customers active.
Learn more about:
✅ Blockchain loyalty program software
✅ Mobile-first: loyalty app & socials
✅ Additional benefits of a blockchain loyalty program
Read it all in our blog, click now.
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