Loyalty partnerships are becoming conventional, and trend as brands like Starbucks join the movement. They even stated that “through blockchain or other innovative technologies, they are researching how to tokenize Stars and enable other businesses to link their rewards program to Starbucks Rewards.” Clearly, customers will be frustrated with them if loyalty programs stay centralized….
Blockchain is a trustless distributed ledger in which different agents can interact. Participants are: Loyalty rewards program providers. Managers. Small-medium enterprises (SMEs). Customers They can interact in one system without intermediaries or third parties. For loyalty rewards program providers, It is considered that blockchain has the potential to facilitate the implementation and management of their…
According to a recent national Harris Poll, 44% of American people are interested in acquiring digital currencies, such as Ethereum, Bitcoin, and Dogecoin, as an alternative to cashback reward programs from retailers. The current, post-pandemic environment is actually perfect for cryptocurrency’s spread. Consumers quickly adapted to new technologies such as online meetings and cryptocurrencies in…
Blockchain is a trustless distributed ledger in which different agents can interact. Participants are: Loyalty rewards program providers. Managers. Small-medium enterprises (SMEs). Customers They can interact in one system without intermediaries or third parties. For loyalty rewards program providers, It is considered that blockchain has the potential to facilitate the implementation and management of their…
One of the most valuable assets of a company is its customer loyalty. Measuring and modeling customer loyalty is essential to expand and retain customer relationships. What’s the connection between royalty and retention? Aren’t they the same thing? This blog sheds light on how retention and royalty are connected and How do loyalty programs work?…
Just as we need a wallet to protect our cash and credit cards, we should also know where we’re going to store and retrieve our digital assets. When we buy digital currency on an exchange such as Binance, you have the option to store your assets in the exchange wallet, which is one form of…
In the past decades, eCommerce has been growing at a steady pace. The 2020 pandemic provoked a tremendous boost in online shopping preference to a point where experts expect global eCommerce sales to reach $6,3 billion by 2024. Therefore, it pushed more people to try ordering their stuff online or, in some cases, maybe even…
Introduction Today Customer loyalty programs’ value is appreciated by most companies. However, in the modern market, having a simple program that only rewards purchases is not enough. Instead, Companies should personalize loyalty programs to fit better consumer needs and wants if they plan to make them effective. Personalized communications with retailers are enjoyable for over…
What is the difference between Customer Satisfaction and Customer Loyalty? Customer satisfaction defines as how your customer feels about your product or service. It is measured using the CSAT score, a qualitative questionnaire sent in a survey. On the other hand, customer Loyalty has two definitions. It consists of customer retention (loyalty behavior), the repeated…
Introduction The customer loyalty program is the strategy that businesses provide rewards to their customers who make frequent purchases. In other words, it’s encouraging customers to buy from your business constantly and to make them avoid your competitors. A customer loyalty program allows you to build more robust relationships with your customers by rewarding them…
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