Redifining Loyalty Sector With Qiibee: Loyalty Programme on Blockchain Tech

I shall start by giving an overview of what loyalty programme is all about for the benefit of those who are oblivious of what it is and also for those whose knowledge about it is hazy.

Loyalty Programmes:
These refer to rewards companies or brands offer to their customers or clients. It is a form of emolument or incentive to ensure the brand does not lose the patronage of their customers. These loyalty programmes can come in form of rewards, free services or goods, discounts, etc. These customers usually collect points as they patronise these brands. They later use the points for redemption of whatever the company has as the loyalty offer.

Loyalty programmes undoubtedly was established to enhance brand-customer relationship. However, it has many loopholes which affect both the brands and the customers thereby making the programme less efficient.
On the part of the brand/company, these challenges include but not only:

High customer acquisition costs : loyalty programmes are not cheap to set up. Also, it is difficult to attract new customers because of the ubiquity of loyalty programmes these days.

Inabilty of Customers to redeem their points: It is a common but unfortunate issue that customers collect their points without redeeming them thereby impeding the level of activity of the brands.

High operational risks: loyalty programmes compound the works of companies. It leaves them with a lot of data as they deal with many which may become a tedious security task to handle.

Liability for the companies: Yes, loyalty points can constitute a source of liability for the company. Brands usually estimate what redemption of the value points they are given out to customers would cost them. Any form of alteration in this already established budget can affect the brand's profit or loss account for that year.

What about the limitations of loyalty programmes on the part of customers? They include:

Fragmentation of loyalty programmes: There are too many loyalty programmes. Most customers do not engage in up to half of the programmes they signed for and this makes it difficult for them to sign for more and suitable programmes since they do not obtain optimum benefit from them.

Lack of exchange: Loyalty programmes do not make provision for customers to exchange their points with other brands or using any other means. Therefore, the points get wasted if the customer is not coming back to that brand to exchange the point with the brand's mapped out product/service.

Points have no value outside the brand: the points collected by the customers are only for what the brand specified they should be used for. Customers cannot convert them to cash or interchange them for other uses outside the brand they collected them from.

These among other challenges are what Qibee has come to change to ensure that loyalty programmes become more beneficial to both the brand and the customer.

What is Qibee ?
Qibee is a decentralized, block-chain based ecosystem where loyalty programmes are run creating room for brands to engage with their customers thereby making loyalty programmes more efficient.

What Qibee does is to run brands' loyalty programmes on blockchain. They however allow the brands to have a full control of the platform. Brands loyalty programmes are converted to loyalty tokens which now serve as loyalty rewards for customers. This ecosystem is built on two pillars: the developer kit which allows the brands to set up their loyalty programme on the blockchain and qiibee app which allows the customers to manage all the loyalty programmes they are involved in, trade, exchange their tokens and explore other benefits Qibee offers to them like 'token airdrop'.

The loyalty programme is set up in such a way that it will not impose any difficulty for brands to send reward to customers and also for customers to redeem their tokens. In dishing out their rewards, brands only need to make a budget, buy QBX(qiibee token) from the market, send the QBX to qiibee, qiibee converts the QBX to loyalty token and sends them back to the brand. The brand now sends them to the deserving customers base on their criteria. It is that simple!

Illustration of reward set-up
Source: Qiibee whitepaper

When customers want to redeem their loyalty tokens for brand's products/services, they only have to look at the loyalty token price the brand sets for such services/products and send their loyalty token to the brand in exchange for their desired product/service. This promotes transparency and efficiency in the system.

Illustration of Redemption set-up
Source: Qiibee whitepaper

Benefits of Qibee Services to Brands and Customers
The benefits are over-aching. Let us start with benefits to brands.

Low Risk and Cost: There will be less data for brands to manage since the customers' wallets are on blockchain thereby reducing professional risks. Brands do not have to incur high cost setting up new programmes once they are already on Qibee

Zero risk of liabilities: The brands will have less to worry about since the loyalty programmes are on tokens which can easily be traded or exchanged for cash or with other cryptocurrencies. They won't have to suffer from liabilities or worry about their account balance sheet.

Reaching out to wider customers: brands can use the qiibee app for loyalty promotion.This will attract more customers - depending on how convincing their loyalty programmes are - as the qiibee community has wide user base.

Lack of restriction in engagement: Qibee will afford brands the freehand to construct their reward and redemption structure anyhow they deem best. Also, customers ability to combine as many loyalty programmes as they wish and exchange tokens will enable the brands have access to more customers.

For the customers, some of the benefits of Qibee include:

Store all tokens at one common place: customers can gather all their tokens from different brands and store them at a place. There is no restriction to this whatsoever. This is the panacea to fragmentation of loyalty programmes.

Convert tokens to cash or other cryptocurrencies: customers have the prerogative to exchange their tokens with others in the ecosystem. They can equally choose to sell them for FIAT. The tokens have real value and are not mere collected points that have no value.

Qibee therefore makes loyalty programme a win-win platform for both the brands and the customers nibbing to the bud the many challenges the programme has been beset with.

Who is Qibee and Why Do You Have To Trust the Platform?

Qibee is a team of men and women who are experienced in loyalty programmes. Their experience is spanning across 16 years. There first attempt to bring loyalty programmes together was in 2015 and in they had access to about 100,000 users and 900 brands. This is to say their reputation is not in doubt. In addition, the platform is decentralized and is running on blockchain. Brands and customers will have full control of their transactions!

Let me use this opportunity to inform you that Qibee is doing their aidrops.

You can find the airdrop here
There is a steemit special airdrop too. The drop is for 50 QBX, and it will be given to the first 2500 users who apply!
To participate in the Steemit qiibee drop, follow these steps:

Join qiibee's Telegram
Send @bountyworks a memo containing the following:
Telegram Name
ETH address

This post is for participation in @originalworks Qibee sponsored contest. Check the contest page here

You can drop your questions in form of comments. To find out more about qiibee, visit their website, white paper and social media outlet below.

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