How Blockchain Could Renovate Customer Loyalty Programs?

A parallel industry Evolving besides blockchain loyalty is the new field of Revolutionary Space. Blockchain Loyalty Programs are continuing to grow amidst the Digital Age. Customer Loyalty Programs are Make small business scale to large enterprises. It is a smart investment for all industry verticals to stable your business in the marketplace. There are many opportunities, challenges, benefits associated with Decentralized Network.

We've already seen the out-and-out guide about Blockchain Loyalty Programs. Emergence of Blockchain Technologies with Customer Loyalty Programs delivers extraordinary result.

Customer Loyalty Programs

Customer Loyalty Programs are connected between Business Owner and Customer. The Business Player provides a volume of reward points when Customer Purchases with them. Customers can use the reward points into the other purchases or use the Blockchain Loyalty crypto token to exchange the cryptocurrencies and so on.

I think you got the clear idea of Customer Loyalty Programs.

Why are People attracted by Loyalty Programs?

A lot of people liked the Loyalty rewards program. 

we questioned them, 

for what reason, you like this program

People are said to get extra something when we purchase. especially, reward points are so special. We convert reward points into a currency that makes other purchases. so only we love that.

what is the most interesting matters of blockchain loyalty program, they answered well, 

as for blockchain loyalty programs, participating as a member to get Crypto token? We used Crypt trading, also used the utility token and converted a fiat currency dollar, Euro so on.

So, Blockchain Loyalty Program is THE BEST

Recently, Amazon Prime enables members to apply reward points from Connected Merchant i/e companies toward purchases.

North American Customers own t the 13.4billion loyalty programs. 44 percentage of the customers said they are very satisfied with the customer loyalty reward program experience

Blockchain Loyalty Programs

From the Customer Loyalty angle, the Distributed Ledger Technology DLT contains reward Customers with Cryptocurrencies like Bitcoin, Ethereum, Ripple, lite coin etc., and Crypto Token in the way of Exchange for their diligence and Brand Support, Stats, Revenue Streamline Customers Personal Data are securely stored in a digital wallet on the Nodes.

Blockchain:

Blockchain which enables digital informations, data to be exchanged between a decentralized P2P network. Blockchain acts as a Digital Ledger that can be accessed by everyone. It is a Distributive Technology to turn out the way we transact online.

Blockchain technology has the potential to reduce cost, transparency, Secure Transaction, efficient administration to improve Customer Experience for Blockchain Loyalty Reward Programs.

Challenges/Difficulties in Current Customer Loyalty Program

1. Limited customer engagement

40 % of customers are inactive from loyalty programs. We have a solution for these challenges, increase the brand reputation, leverage data to customer experiences, interests, offers.

2. Maintain a Loyalty Currency Duty

Reward Point-based loyalty functions make a new type of currency. We develop an economy program design for these loyalty programs.

3. Loyalty to the Discount Vs Loyalty to the brand

Brands don't reward customers beyond the transaction. Apart from transaction rewards, the brand needs to design loyalty functions. Create a complete outlook of Loyalty Reward Program impact on Customers and brands

Difficulties:

• Delay to get access to reward points
• incoherent experience across the various program
• sometimes, reward points are no redeemed due to the account has an inactivity 
• Low redemption rates
• High cost of Customer Services 
• Low retention​

How Blockchain Could Boost Customer Loyalty Programs?

With the Online Protocol, building blocks, smart contracts, blockchain can execute without a middle man. 

(i) Blockchain which allows Loyalty Reward Program to interact in one mode without privacy and benefits.

(ii) Blockchain has the potential to get Real-Time Transparency

(iii) Save your Personnel cost and Reward Platform managing cost

(iv) Customer Gratification, Get Instant redemption, Exchange Loyalty Reward Points, Vendors, secure ecosystem

(v) Secure your Transaction with the help of decentralized ledgers.

For example, Singapore Airlines and Delta Airlines newly organised a blockchain-based loyalty program, superseding their air miles with cryptocurrencies they can use for retail purchases. 

Benefits of Blockchain Loyalty Program:

Customers can redeem points with the similar merchants that received them. Through Blockchain, Business can decentralize their loyalty programs and advantages of Blockchain Loyalty Programs. Benefits of Blockchain-enabled loyalty rewards systems incorporate

1. A Well Organized Experience

Organizations offer more than one loyalty reward points, it can be hard to maintain for both company and customers. The absences of streamlined reward loyalty programs are many missed opportunities, missing points and more. 

2. Increase the value of Loyalty Reward Program

By using the Blockchain Technology, Increase the value of Loyalty Reward functionalities. Blockchain-Powered Digital Coins are replaceable than reward points. it acted like a fiat currency. The Customer can exchange loyalty coins to Cryptocurrency. Loyalty coin market that increases the value

3. Shielded Experienced & friendliness

Customer data records are very important. Sometimes, these data are hacked or data theft. To avoid this risky thing, we use blockchain technology.

Blockchain is completely transparent and trackable. It can risk-free identity theft and fraud which benefits both business player and customer

4. Real-Time Transparency

Blockchain Technology gives Real-time transparency of Customer Loyalty Reward Program. A decentralized approach performs the loyalty reward program easier to maintain & track. With the use of blockchain technology, customers get flexibility and inspire them to spend more time. 

5. Effective System

DLT Process makes it easier to store data and record a block as a loyalty point transaction in real-time. Blockchain Loyalty Reward Programs are more efficient. which allows organizations to keep real-time reward points and offers rewards to their customers effectively.

Recently, Walmart made a move on Blockchain Technology, Tracking Food Products through Supply Chain Management with the help of blockchain technology.

Points Vs Token Comparison

One of the best impacts of blockchain token is as a replacement to the Reward point used in Loyalty Programs. The Blockchain tokens are built by Public Blockchain Nodes.

Many Customers associated with loyalty reward points programs. through decentralized Public Nodes, can be a cost-effective way to save and share reward points. Points you earn are stored in the Organization Databases. 

The Aim of Loyalty Reward Programs is to attract customers to purchase more and more. but, some of the organizations started to replace point-based programs with crypto tokens.

Loyal Points are only redeemable for all products. Omitting a credit Card Program, These points have no real cash value. On the Other hand, Token is a tradable one and exchanges. Customers can easily exchange to fiat currency and crypto token.

Recently, Rakuten as Ebates - leading e-commerce company changes Token-based functionalities.

Blockchain Loyalty Program - A New Voice For Utility Token's Liquidity 

Business Owners can create a utility token for their Blockchain Loyalty Reward Program. Customers get your Utility Token by purchasing them. Returning back they get a reward as a crypto Tiltity Token.

With the help of Utility Token, You can fix the amount of your token on the market hub. For example, you make an AZ token (Utility Token) to provide your customer. Before that, you fix the amount on the AZ coin. 

Utility Token is the new Voice of Blockchain Loyalty Reward Industry. Both Business Owners and Customers can benefit from this. We‘ll briefly discuss another article.

How the Blockchain loyalty program can increase ROI for ecommerce Startups?

From startups, small businesses to large scale enterprises can benefit from the Risk-Free Blockchain Loyalty Reward Programs. The Advanced Model of Ecommerce Industry. Most of the entrepreneurs, Crypto Enthusiast are benefits form this also started to launch an Exclusive Blockchain-Powered Loyalty Reward Programs on the Crypto hub. Also, they create a token, fix the amount on the Marketplace and reach the No.1 position by the way of offering to their Customers. Blockchain Loyalty Programs can reap a huge profit in a short span of time. It is a one-time investment- business players use the reward point to make money and deliver the high cash back as reward points to the customers.

CashCraft - industry Leading player aid to crypto owners by building the Blockchain Loyalty Program with smart contract to enlarge your income. Recently, We initiate the Blockchain-Powered Customer Loyalty Reward Program with Smart Contract. We create a token through the blockchain network with the help of our Blockchain Developers. 

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