Customer Loyalty programs are an enormous billion-dollar industry, with more than 16 trillion loyalty points declared annually across 7.6 billion consumers. It’s a Stableindustry that businesses use to drive customer spending and loyalty.
Customer Loyalty Reward Program is one of the most efficient ways for brands to interact with their envoy, cashback for purchases, discounts, offers and so on.
Customer Loyalty Functions can build an organization & company (i.e)
Offering Rewards as Cashback is a tactical investment plan. These kinds of Companies have grown skyrocket within a short span of time.
Customer Loyalty Program can be emerging as the revolutionary technology Blockchain. How this Distributive Technology will benefit the completed loyal customer Value, Programs, cost efficiency, Brand Richness can provide.
In this article, we are going to know about cut and clear information of Customer loyalty Functions and Explore the Blockchain Technology in Loyalty Solutions.
Let’s Deep dive into the article
What is Customer Loyalty Program?
The main goal of Loyal programs is REPEAT SALES FROM LOYAL CUSTOMERS
Customer Loyalty Program is a connection between a business brand and shoppers. The Business Owner offers amazing products with offers to their Shoppers, Existing Customers engaging with the retail shop.
Before you get started, make sure your goals are clear and you are in the right industry to integrate or add Customer Loyalty Programs.
It attracts the targeted Customers, Make a Profitable and the main important is long term relation between business Owners & Customers.
Types of Customer Loyalty Program
Cashback & Coupons :
it is an effective way to return your existing customers and also attract your new customer. Providing CASHBACK to your customer. they want extra something on their purchase. offering cashback or coupon code to your customer. They like to do shopping on your site. Any kind of industry, you can integrate the cashback module to your business.
Customer Points Program:
Company gives the No.of Points for their Volume of Purchases. for example, 1 euro = 1 Point.
Redeem Points:
Retail, Online Shopping, Cashback & Coupon sites offer to engage their Customer by he plenty of ways of Earn and redeem points.
Reward Program:
Providing rewards as Cashback to Customers for their everyday purchase. So, a lot of customers attracts Rewards.
Gift Card:
The way of catering a Gift Card to your Customer by purchasing through your Platform is also the best one of engaging your customer.
Spend Programs:
Customers get loyalty credit like cards for the money spent at your business. can use the discount & offers to keep your customer coming back.
MultiLevel Marketing :
MLM is a popular strategy to all scales of business. simply, MLM is REFER & EARN. you customers can also earn from your business by the way of adding a new customer. So, you can get the new customers, subscribers, Shoppers also engaging your existing Customer. Below image well explains that your customers get the N no.of points when they share or review your business products.
Let’s come into the revolutionary technologies.
What are Blockchain Loyalty Reward Programs?
A recent study of New York University’s Schulich School of Business in Toronto explains the Potential for blockchain technology to enhance cashback reward programs for both customers and companies.
Offering Rewards as points or Token to the Loyal Customer on Decentralized Network. Blockchain Customer Loyalty Programs are the advanced model of Customer Loyalty functionalities.
Secure your business and make transactions on blocks on distributed ledger technology. Get Real-time reward benefits by using Blockchain Loyalty Programs.
With the help of Blockchain smart contract solutions, a blockchain system can interlink with existing customer loyalty programs. Smart Contracts are digital contracts on blockchain networks. The Autio execution with the terms of agreement between Owners and digital architecture.
BLOCKCHAIN:
Blockchain is the Distributed Technology and its completely decentralized method for Customer Loyalty Programs. The blocks are stored a transaction and digital pieces of information
Every block has a unique code HASH which enables it to be distinguished from each other block. Hackers can’t theft the data.
Why Blockchain Technology is fit for Customer Loyalty Programs?
As for Online Shopping Industry, transactions are the primary things for both buyers and Owners. To avoid customer data thefts, transaction hacking. With blockchain technology your Online Shopping Business Shield More Secure & Safe.
Blockchain is a peer to peer system which means that it is less fraudulent and more secure of your Blockchain-based Customer Loyalty Programs. All important information and data are stored on the immutable blockchain ledger. So, no bother about your business.
Blockchain Loyalty Token:
Blockchain Loyalty Tokens are the Advanced Model on the market. Customers can get loyalty tokens and also redeem that across the multifold Programs.
Customer Loyalty Program owners give rewards as a token to their Customers. Customers can use a token in various ways to make money. Blockchain Token is a recorded public ledger on the Decentralized Network. These types of Blockchain Loyalty Programs win both Customer and Owners.
Blockchain Tokens are used at other online stores. you can exchange with the cryptocurrency or fiat currency. Discover more about Crypto Rewards functionalities.
Having a blockchain Loyalty Tjens, Customers can use freely and it’s more flexible and they often use the token, they’ve earned much more rewards as a token.
Very low budget to run and maintain a Blockchain Loyalty Programs. It’s completely very very Transparent Functionalities.
Customers will know the company can’t change its policies and rules and also blockchain token values.
Simple Fact Online Shopping Industry Needs BLOCKCHAIN.
Blockchain Technology is predicted to spurt in upcoming years, Value add for the Online Shopping Business.
Access to a Network of Loyal Customers:
To Build a network of agreement where customer can use their earned token, a business get access to an ecosystem of Loyal Customers.
Get a Loyal and Happy Customer:
Online Shopping business is a competitive ad offering more products to not only attract customers, but you keep them coming back. t is the win to win situation
Alternative payment Method:
Blockchain authorized by currencies is called cryptocurrencies. These types of currencies were the first execution of innovative Blockchain technology.
Bitcoin is the Grandaddy of the Cryptocurrencies. Today, customers can choose to pay with bitcoin in the same way people would select to pay with PayPal or payment system. Cryptocurrencies are being used as an alternative to traditional currencies.
Faster transaction, Transparent And more Secure:
Customer and Business Owner also affiliate can make a secure your business also easily do the transaction through DLT. With the help of Blockchain technology, you can make fast and secure delivery to your customer without hacking or theft
Benefits:
- Easy to Create a loyalty Token
- Sales Tracking Features
- Pally reward Program for Customer
- More difficult to defraud
- Fine-tuning of the program
- Get a mass Customer bases
- Low Cost-Effective
- Easy to Understand
- instant gratification
- Real-Time Rewards, Redeem
- Offering Additional revenue stream
- Get engaged on Existing Customer
- Get Free Token
- Make More
- Highly Targeted Campaigns
- Get a High-level Customers by providing Rewards
- Avoid Price Discount
- Flexible and Customizable
- Easy to Integrate
- Easy to Setup and maintain
- Increased transaction value and more
Blockchain Business Stats:
According to the Garner Report, The worth of Blockchain technology is fo business will exceed #3.5 trillion by 2030.
This graph defines spending on blockchain solutions worldwide from 2016 to 2022 Predicted.
Conclusion:
Blockchain is the Game Changer of the Customer Loyalty Program and Online Shopping Industry. In the current situation, Blockchain-based Bitcoin Cashback Reward Program are mainstream amid the Digital Pace.
The Very Successful Ecommerce, Cashback industry has overall reshaped outliving and shopping. So, these things must be safe and secure.
Emerging advanced Distributed Ledger Technology scales as more startups to large enterprises are building a Blockchain Customer Loyalty Programs.
We at CashCraft initiative the Exclusive Blockchain Loyalty Program Services to our Worldwide Clients. We provide the A-z Support of Blockchain Customer Loyalty programs with Powerful Solutions. Uplifting our Business scale into Distributive Ledger Technology and Cryptocurrencies. To explore more advanced Technology and start your Career with CashCraft.
