QIIBEE MAXIMIZING ALL LOYALTY PROGRAMS

kilatunzii (55)in #blockchain • 7 years ago

Customer loyalty

A self explanatory definition of customer loyalty is the willingness of a customer to patronize a brand several times as a result of the positive experience, satisfaction and the benefits the customer gets from the transaction. As a customer my loyalty lies where I get most benefits, it’s the same thing for everyone. To be honest customers are loyal to a brand when the products and services are of high quality and they are delivered as promised, or when a brand offers a really amazing customer service. But still, great customer services sometimes are still not enough to make some customers want to come back. Coming to think of this, a measure could be put in place in helping a brand with loyal customers’ crusade.

Customer loyalty programs

This are mediums that helps to push a customer’s loyalty by providing them with rewards that frequently makes them patronize the business products and services. The customer might either be given; coupons, free merchandise, discounts, access to unreleased products, etc.

-However let’s take an instance into play; Mr Jimmy and his family go on a 3 weeks’ vacation in New Jersey, rent a house for their time of stay and during this particular time frame they keep shopping at a particular grocery store. At about the second week the owner of the store gives a coupon worth about $5 but would be valid in a week’s time but can only be used in that particular grocery store. This coupon would obviously go to waste because by the third week Mr Jimmy and his family are already on their way back home. So they would never get the chance to use the coupon.

-Let’s take another situation; Cedric has this love for Samsung mobile phones, but his brother Caleb loves Nokia. A new Samsung phone is out and Cedric doesn’t hesitate to get himself one, just because he always patronizes Samsung they offer him a discounted deal; buy another mobile from Samsung at half the price but Caleb is a fan of Nokia so he doesn’t make a choice and leaves the deal pending. Obviously the deal is going to be lost with time.
What if the solution to losing cool deals, promos and coupons are OVER? Well with qiibee you can check that off your list.

What is Qiibee?

Qiibee is an organisation that offers blockchain based loyalty programs on which any and every other brand can build its very own loyalty application. Qiibee has been in the loyalty market since 2015 working with a numerous amounts of brands let’s say over 900 brands.
Qiibee is freedom oriented as customers have the transparency over their loyalty programs, as they can collect, redeem, exchange, send and even receive loyalty tokens on the platform qiibee offers. Meanwhile customers can trade all loyalty tokens on qiibee with any and every other crypto currency.

Qiibee’s mission

The main focus point of qiibee is establishing a loyalty integrated environment which offers a platform to a lot of brands and servicing thousands of customers. Qiibee extends a helping hand to brands in running their loyalty programs on blockchain and it is aimed at becoming an efficient platform which enables brands to operate and have total control of their own decentralized loyalty programs.
Using qiibee customers will always have full control of and transparency about their loyalty programs and tokens. Here the customer feels settled and at home because “they have a larger set of options to choose from and a more convenient way of managing their loyalty programs. And they are also free to exit the ecosystem at any time”.

The loyalty sector

The growth of the loyalty sector is incredible, companies are trying hands on different loyalty programs just to keep up in the game. As customers tends to frequently visit brands that they benefit a lot from their loyalty programs. A brand could offer discounted coupons after a certain amount is spent by a customer.

The fragmented sector

Loyalty programs coming up almost everywhere with different brands but, the problem is each brand differs from the other, so loyalty points gotten from brand A cannot be used with brand B. Lets consider the example about the mobile devices, the discounted deal given to Cedric by Samsung mobile goes to waste because the deal is restricted to just Samsung devices and Caleb prefers Nokia. The downside of this is most loyalty points gotten by customers tends to go to waste as customer aren’t able to implement them due to circumstantial reasons.

The qiibee solution on the fragmented sector

Qiibee’s solution is to unify the market by using the power of the blockchain. This is just like creating a common ground where exchanges can be made. A situation where customers can trade in their loyalty points earned from loyalty programs. This bring the solution to both cases above, Mr Jimmy can trade in the loyalty points from the $5 coupon he earned and is able to use in it some other shop while getting a different brand. The same goes for Cedric as he will be able to implement the discounted deal and trade it in to get a Nokia phone for his brother instead.

Benefits of qiibee

▪For brands;
-High customer acquisition costs
-Low engagements and redemption
-High outstanding liabilities
-Operational risks and inefficiencies impede successful engagement.

Using qiibee as a brand all you need to do is allocate a budget which will be converted to loyalty tokens, qiibee will create the tokens and then send to the brand then the brand determines how it wants to reward its loyal customers in all these steps the brand still holds full control of the interaction.

▪For customers;
-The fragmentation of loyalty market is solved
-The lock-in effect and low usability of points is completely resolved
-The lack of real value of collected point is also solved as qiibee give a marketplace to exchange points for real value

As a customer using qiibee the journey is so easy going, all you have to do is collect different brand tokens from the various loyalty programs, exchange one token for another as you please or rather trade them for real values or other crypto currencies and enjoy security,
It’s that easy with qiibee

Loyalty program set-up

The two main building blocks here is the Reward and redemption

-REWARD

The first block is the reward block here the brand allocates budget for its loyalty program scheme the buys QBX tokens and sends them to qiibee where a smart contract creates the loyalty token and they are sent back to the brand. Then the brand determines how they want to reward its loyal customers and disburse loyalty token to customers if they meet the requirements.

-REDEMPTION

The next block which is the redemption block, here the brand again decides a fixed redemption budget that can be attainable by its customers. Then the customers can redeem their acquired tokens from the loyalty programs to get their desired programme gifts. The brand gets back the loyalty tokens initially given out and start setting up the next reward.

Working principle of qiibee

Qiibee’s ecosystem is built on two pillars the development kit and the qiibee app

“The qiibee wallet is the means by which loyal customers can interact with the ecosystem. The wallet directly communicates with the API and allows users to send and receive loyalty tokens, exchange them with each other or even trade them for QBX token, etc”.

As for the development kit qiibee provides an open-source development kit, which include everything needed to successfully run a loyalty program on blockchain. The current API is built on NodeJS it essentially guarantees an easy integration by external developers. Documentation can be found here

Roadmap

Here is qiibee’s objectives and what to expect in the time being

Conclusion

Without qiibee Mr Jimmy, Cedric and many other loyal customers will lose some opportunities they would have loved to maximize but due to circumstances wasn’t just feasible.
But with qiibee every loyal customer everywhere around the globe will be able to maximize their loyalty tokens gained on any brand with no restriction but just a simple exchange.
Qiibee is one step to revolutionizing loyalty programs to both brands and their loyal customers as well.