“Loyalty” programs died many years ago. Exactly when, may be difficult to pinpoint. If we consider that, “targeted marketing” and “personalisation” are still topics of debate at key loyalty conferences globally, moreover, the vast majority of programs continue to fail in these areas on a daily basis, one could argue they were never truly “alive”.
Consumers are loyal to two things only: Brands and Price. Period.
The consumer experience with a company’s products and services, through the end-to-end customer journey, is the fundamental component that drives brand value. While the price of those services will predicate the consumer segment and affirm brand status.
Thus, in order to achieve zen in affinity, advocacy and devotion from customers; services, offerings, price and transactions – for the individual - need to be seamless and consistent.
With the onset of Blockchain technology, cryptocurrency and smart contracts, utilising universally prevalent mobile technology, it’s now possible to potentially please all of the people all of the time, and for companies to position and grow their brands at a price point acceptable and relevant to their customer segment; all the while maintaining a level of income that will satisfy their business needs.
The blockchain fit with consumer rewards and loyalty programs is obvious and natural, with virtual currency, miles, points etc. being the current medium of exchange. But what have butterflies got to do with any of this?
To find out, read the UKasii white paper here…