Qiibee CEO: Blockchain is the Perfect Technology for Loyalty Programs
Blockchain is the best era to attach the loyalty program trade because it delivers extra choices and price to shoppers.
That’s consistent with the CEO and co-founder of Qiibee, a Swiss-based loyalty token protocol that is helping manufacturers run their loyalty methods on the blockchain.
Speaking in an interview with Coinjournal, Gabriele Giancola spoke about how the era will turn into the loyalty sector, and the way manufacturers can higher retain their shoppers with it.
“We believe the more options you give your customers, the more they will be engaged and the more excited they will be with the brands loyalty product,” he stated. “At the end of the day, it’s all about the value that you give them.”
His feedback come at a time when the State of Customer Loyalty in 2018 survey discovered that over 50 in keeping with cent of unswerving shoppers stated that they’d sign up for a loyalty program. Not simplest that, however greater than 90 in keeping with cent of customers imagine themselves similarly or extra logo unswerving in comparison to a yr in the past.
Yet, whilst buyer loyalty is extra vital than ever, the expectancies from customers is rising. As a outcome, manufacturers wish to in finding new tactics to present them price and stay them engaged.
Giancola believes this can also be accomplished via the blockchain. Founded in 2015 through brothers Gabriele Giancola and Gianluca Giancola, Qiibee’s Ethereum blockchain plug-and-play answer helps corporations, giving them the platform to create their very own loyalty methods on Qiibee’s protocol. All of which can be sponsored through the platform’s personal loyalty token, QBX.
Some of the manufacturers at the back of Qiibee come with Caffe Lattesso, the 2d biggest espresso manufacturer in Switzerland and Sausalitos, a cocktail bar and eating place chain in Germany.
The primary concept with Qiibee is that once an individual retail outlets with a logo they prefer, they’re then rewarded with the branded token, whilst interplay is consistent. If an individual has branded tokens with one corporate, however calls for tokens of some other that they don’t have, they are able to use the Qiibee platform as an change to get the tokens they want from any person who calls for the tokens they’ve. Not simplest that, however through having all the tokens on the similar database this makes it simple for exchanges to happen quite than on 10, 20 or 30 other ones.
At the second, for manufacturers loyalty could be a tough enviornment. According to 2017 figures from Bond Brand Loyalty, an estimated $100 million in issues have been left unredeemed through individuals. This gifts each possibility and alternative for loyalty operators. On the one hand, redeeming a small quantity would ship higher reports for individuals, whilst on the different it highlights the want for loyalty operators to ship cost-effective redemption gives.
“If you can’t deliver in value it doesn’t matter what points you are giving them if they can’t use them,” stated Giancola. “Giving the points is the easy part, but then giving them value out of those is the difficult part, and this is where most loyalty products are struggling.”
According to Giancola, everybody interested by loyalty methods believes that it is smart to have them hooked up because it provides customers extra choices. Instead of establishing new packages the place customers must obtain extra apps to be a part of one thing, why now not see what’s already to be had and fix them, he stated.
“This is the perfect technology and it’s an organic move for the loyalty program because when a customer does something they get rewarded for it,” he added. “You give the ones issues again and I provide you with a product. It makes numerous sense taking the entire loyalty marketplace directly to the blockchain.”