Smart Contract, Smart Analytics and AI experts can help to personalize your program to match the needs of individual customers by offering more personalized rewards based on their purchase history.
Traditional customer loyalty programs are not realizing their full potential. This US$360 billion customer loyalty industry is hampered by low client retention and redemption rates, time delays, and high costs. To put this into perspective, on average half of all loyalty program accounts are inactive with 30 percent of total participants never redeeming a single point.
Blockchain-based loyalty programs have the power to change all this with instant liquidity of earned cryptocurrency rewards at any participating store. This distributed and automated system eliminates the need for an expensive third-party fulfillment center and tedious redemption procedures.
The point of a customer loyalty rewards program is to incent customers to keep coming back. If the reward isn’t compelling it isn’t effective. Complex rules and tedious redemption policies can actually drive customers away in frustration. By moving to a blockchain-based loyalty program, rewards are available immediately to apply toward future purchases at any participating store without the need for redemption. This frictionless system greatly reduces program costs while enhancing the value of the incentives, thus enhancing customer loyalty. Increased program utilization also opens up expanded revenue opportunities.
As a blockchain technology, the telemetry is recorded and distributed making it secure and indestructible plus valuable for analytics. Blockchains allow more consumer data to be collected and stored in a more efficient way, helping retailers gain more strategic insights into their customers and offer more personalized rewards programs that match individual preferences and purchase history. BlackStone eIT is not only offering the blockchain-based loyalty program, we are offering an end-to-end solution. We also offer AI and smart analytics expertise to customize for specific enterprise needs
The BlackStone Blockchain Loyalty Card platform reinvents how customer incentives are created, rewarded, and managed. We bring a host of benefits using proprietary blockchain and smart contract technology that has the power to reinvigorate your existing program and unlock existing program value. By converting existing unused rewards into immediately usable cryptocurrency, you immediately awaken inactive accounts and begin driving new business activity.
As Smart Contract, Smart Analytics and AI experts, we can help to personalize your program to match the needs of individual customers by offering more personalized rewards based on their purchase history.
Reward balances have cash value toward purchases at participating stores keeping customers coming back.
Blockchain creates an indestructible history that can be accessed for customer analytics to personalize incentive offerings.
Greater Redemption Rates
Rewards are easier to spend as they don’t need to be redeemed.
Eliminate the need for a third-party fulfillment center and redemption website.
Eliminate tedious redemption requirements and workflow for a better customer experience.
Elimination of Unused Point Liability
The reward issuer would no longer need to carry the liability for all unused points.
Take a closer look at the Blackstone eIT solutions
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