Qiibee || Stay Loyal and Get More Value.
The role of relationships (internal and external) cannot be overemphasized in marketing. Hence in designing a marketing plan, means on how to establish and maintain profitable relationships. As regards customer relationships, Loyalty programs have proven to be a "relatively" effective means. Relatively because, although loyalty programs were designed by brands to increase the number of returning customers, the rates at which they returned and their involvement in the brand's, it has yielded results only slightly better than results attained from doing nothing at all.
The reasons for the poor results achieved by these means of marketing can be seen when one considers the problems that plagues the loyalty market. Some of which include;
• Fragmentation of the market.
• Low levels of activities and redemption.
• Costs associated with integration.
• Lack of interoperability and intrinsic value of collected loyalty points. e.t.c.
These problems militate against the efforts of set-up loyalty programs and reduce the productivities and efficiencies, from both brand and customer perspectives.
From the above listed problems, it follows that any product that "cements" the fragmented parts of this market, aid value collection and conversion from loyalty points and customer activities while building brands' interoperability would grossly improve the productivity and efficiency of loyalty programs. Based on the value interactions involved, this product must be secure to avoid any value hack or losses, also transparent and decentralized to eliminate bias, prejudice or a single point of failure.
Introducing Qiibee!😏
Have you ever thought of the benefits as a customer associated with instant conversion of loyalty points to loyalty tokens, which could either be cashed out immediately for FIAT or Crypto? Or as a Brand, have you ever wondered about the benefits of having your own loyalty program, easily built up and having complete control over the tokens.
Well, wonder no more!😏
Qiibee is a platform that allows for more freedom in loyalty markets for both customers and brands. It decentralizes the loyalty ecosystem by bringing it into the blockchain. It has a hybrid architecture of both the public Ethereum's blockchain and qiibee's own private blockchain in order to eliminate the limitations of ethereum blockchain when it comes to scalability.
As a platform, qiibee acts as the cement for the fragmented loyalty market, binding it all together and therefore allowing easy reach for real value from loyalty points. Being around in the loyalty market since 2015, the core team has gained experience on how to tackle the problems the maket is faced with and consequently transform it from what it is now. Sipping from the fountain of knowledge garnered, qiibee has implemented products(qiibee app & developer's kit) that will better user and brand experience in the Loyalty Market.
Customer Perspective.
The qiibee ecosystem allows brands to be able to create more activities for users to engage in in order to receive loyalty tokens. An interesting change implemented is that these tokens can be stored in the qiibee wallet contained in the qiibee app. This allows users to get immediate rewards or real value for their activities, therefore creating more trust between brands and customers which will in turn build more healthy relationships between them and hence increase more activities.
The qiibee ecosystem also allows users to exchange tokens to FIAT currencies, Cryptocurrencies or other Loyalty tokens from brands in the ecosystem. This increases the freedom of loyalty market and encourages points redemption. This feature also enables users' easy entrance into the cryptospace, distributing cryptowealth and aiding the stability of the cryptoworld.
Brand Perspective.
With qiibee's developer kit the cost of setting up a Loyalty program is completely reduced. All brands needs to do is decide on the fixed loyalty budget, send it to qiibee platform which creates the loyalty tokens and send it to the brands. The brand then has full control over how it rewards users for their brand promotion activities. Also giving out tokens to deserving customers frees the brand's balance sheet of deferred value.
With this, capital budget planning gets easier and hence prevents brands from running into debts if all users decides to redeem loyalty points. Based on this certainty of required budget, ease of loyalty market entry and the total control brands have over loyalty interfaces, more loyalty programs will sprout up. This will increase the growth and popularity of loyalty programs as a means of marketing.
Loyalty Market Penetration of Other Industries.
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Who says loyalty programs can only be limited to marketing of Brands?😏
From the success qiibee is achieving in the marketing industry, these programs will implemented in many other sectors of the economy to reward hardwork and diligence. For example, with the effectiveness qiibee brings to loyalty programs to increase customer activities, these programs can be introduced to the educational sector, to reward students for their performances in continous assesments and examinations which will increase their educational activities as well. The administration can also implement loyalty programs in rewarding teachers for their hardwork also. This will encourage them to keep up the good job. Also in the business sector, the qiibee platform can serve as a means to incentivize workers and other executives for their contributions to the company, aside from the monthly salaries they receive. To make education and jobs more fun, with the freedom to control interfaces that qiibee gives, bounty tasks which improves their performances can be created for students in schools and workers in firms to healthily compete for.
The Token Flow.
The QBX tokens serves as an entry into the qiibee ecosystem. Brands purchase this token from exchanges with the loyalty budget. This QBX token is sent to the qiibee platform which by the aid of smart contracts blocks and sends it to the ethereum public block chain. The qiibee platform also creates the equivalent value of brands tokens and sends its to qiibee's private blockchain, which in turn transfers it to through the qb platform to the brand. Recall that the brand has full control over the loyalty interface, therefore it determines how and for what activities customers are rewarded with the created tokens.
The customers also has freedom over received tokens which has been stored in their own qiibee wallets. They have the choice to either redeem these tokens, exchange these tokens for other ones or trade them for cryptocurrencies or fiat. As more brands enter into the qiibee ecosystem, value of the QBX token increases.
Johnny and The Merchant.
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Johnny is a 5year old and big fan of toys at that age. He bought so many toys that he lost count of how many he owned. Not all he bought with his cash or his parent's, not all he wanted to even buy but to redeem some of his loyalty points gained from the toy store, he had to pick another. As he grew older, his interest in toys grew weaker. He instead started developing interests for electronic components and designs. He still had loyalty points though and he didn't like to loose any of it. Sadly he walked to the toy store to plead with the merchant to convert his points to cash but deep down he knew this wouldn't happen as this was not the first time he tried. Before getting there he had a bright idea, at least so he thought. He was going to redeem the loyalty points for a toy and then the toy being new sell it to a friend who hadn't gotten over toys. "Brilliant!", He said to himself.
Happily he opened the door of the toy store, happily he told the merchant his first business plan😂. The merchant just smiled and shook his head. "Johnny", the merchant said, "I have good news for you". "What news can be better than this idea I just had", Johnny retorted. Johnny was 15 years old now. "Johnny, there's a platform where I can reward you all your points, in the form of tokens and you can exchange these tokens for either cash or the electronic store's tokens which you can use to buy all the electronic components you want and so, there will be no need for you to go through the stress of your brilliant idea." "Show me how", Johnny said and the merchant downloaded qiibee app into Johnny's mobile and explained everything. Amazed, Johnny was left speechless. As he was about running out the door, the merchant added, "Ohh before I forget, you can bring your old toys in exchange for some tokens". Johnny ran back, hugged the merchant and ran away.
You can imagine what Johnny did next!😏
The qiibee platform takes loyalty programs to a higher level, making both customers and brands more loyal to each other as they exchange benefits. Backed by a reliable team with more than 3 years experience, this already functioning platform is sure to make the Loyalty market blossom.
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