Qiibee: Experience of wonderful loyalty reward on blockchain

Loyalty Reward

Business needs patronage and for business to have customers who will desire a product or service or will taste a product or experience a service to check again at another, business owners must show themselves worthy. It is on this note that business owners in view of rewarding their loyal customers who are committed to patronizing their business at all times introduced a loyalty reward program.

For good customer, the need for conviction, trust, satisfaction, goodwill commitment, delight and experience in using a brand or patronizing a business cannot be overemphasized as company spends in making their product going viral especially when it comes to getting the right attention from their good customers.

Loyalty reward is what every good customer deserves from patronizing a business. All customers are in search of opportunities and places where they can shop, earn and save their money and this is what loyalty reward have brought. It has always been a good way to promote business and since all men are economic in nature trying to minimize cost and maximize gain. Loyalty rewards are in different endeavours or in different businesses already in different forms especially in the area of travel, retail, financial or banking services among others. It has always been a good way of promoting business as it enhances customers relationship with a brand.

Several techniques have been adopted in rewarding customers loyalty in time past which includes the use of price discount, coupon, loyalty cards, token, discount cards, credit purchase for customers among others.

The objectives of Loyalty reward can be summarized as follows:

1. Shop Continuously: Business needs a continuous patronage, therefore customers must continue to shop and if they must continue to shop especially for a product, there is need for compensation for their loyalty or patronage.
2. Earn: It is important for customers to earn as they are spending. It is of no benefit for the customer if they continue to patronize a business that does not know how to say thank you and that cannot show their customer that they are important to the business. Hence, there is need for customers to earn as they spend through shopping.
3. Redeem: Since there exists several ways of compensating customers, whichever way, customers should be able to redeem prices or save toward a future order. That is a good way of ensuring such a person returns to ask for more.

The idea of Loyalty Reward is not new as it has been a service that everyone must have enjoyed at one time or the other. The bank for instance rewards their loyal customers for using their credit cards, shops give discounts to their customer to ensuring continuity in their patronage, transporters give discounts for on trips (where people can through a trip save for another), online market malls gives coupon to customers to save reasonable amount on different transactions etc.

Most times, the reward may not get to the esteemed customers since there is no transparent transaction occurring between the business and the customers or the transaction details are not kept to ascertain records of patronage. Or in some cases, rewards may remain unclaimed as it may not be tangible enough to customers. In a situation where rewards cannot be merged, not available for use with other brands or for items of interest, or rewards expiring in short time, it can only lead to ineffective loyalty rewards.

I obtained Naija discount card that cost about one thousand naira in 2016, to this moment, I hve not been able to put it to use in anyway because I consider the card a waste as the value is limited to a particular environment on selected goods.

This necessitates the use of blockchain technology for loyalty reward.

Loyalty Program on Blockchain Technology

On blockchain, there is point and options for redemption which makes exchange easier for program partners and customers. Now for a new transaction, a loyalty point is issued which can be redeemed or exchanged with a unique token of customers or that have been assigned to that particular transaction which are usually distributed across the network.

For customers who are interested in different loyalty programs, blockchain provides an instant redemption and exchange of loyalty with point currency all in one wallet.
With this development, that is, having blockchain technology taking over the loyalty program, challenges like differences in currency, miscalculations of points, loss of coupons, theft of cards etc has been eliminated and therefore, one may not have too many passwords to remember so as to assess loyalty rewards.

Despite these benefits of blockchain technology in the aspect of loyalty reward through decentralization, QIIBEE is loaded with more with which the customers, individuals, businesses, companies etc can benefit more from loyalty reward scheme.

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Understanding Qiibee

Qiibee is a blockchain loyalty reward platform that aims at increasing efficiency of loyalty program by integrating with businesses and brands thus unifying the scattered loyalty programs. Through this, businesses will get more and keep more customers, and shoppers will get more from doing what they are committed to doing already.

Qiibee is connecting the already fragmented loyalty market and removing central data authority which will enable direct interaction between brands and customers bringing about increased efficiency in the loyalty market.
With the loyalty reward platform provided by Qiibee, users dont need to invest time, money and resources to develop smart contracts or token on blockchain technology as they have already prepared applications that will help gather all loyalty tokens earned from qiibee integrated system wallet.

Essentially, the token earned can be transferred to friends and family and exchanged within the wallet.

From the image above, rewards are limited to one per transaction which is time bound and as such can be rendered void for certain reasons that are of none quintessence.

More from Qiibee:

With already completed security audit by ChainSecurity for Qiibee, they have great reputation ranging from their partnership with over 900 brands among which are Burger, Hello and the Swiss Federal Railway for which over 100,000 users joined within a year which give rise to the generation of over 6million activities and 35million data sets.

Also, they have built a great force with coffee brand Lattesso to power their loyalty program for which millions have been reached with reward in crypto in countries like Switzerland, Germany, Austria, Benelux and Russia.

Expect more from Qiibee

With decentralized loyalty program, all customers who wants to access more and gain more of loyalty rewards now have a good hope from a platform that offer such opportunities where you may not need many tokens or different blockchain platforms, where coupons or discount on purchase would no longer be useless, where more saves can be made from every purchase with a digital transaction records. All you have to do is to just shop with brands that partner with qiibee, then, you can save your interest and find yourself in your dream land.

The challenge from the image above have been solved by Qiibee.

I foresee a future where myriad brands will connect and integrate or build on the structure provided by qiibee to transform the loyalty program to a form in which customers experience can be enhanced and the firms will be able to reach more customers thereby promoting their business.

Solutions proffered by Qiibee

There are myriad of unclaimed rewards by members or situations where coupons or redeemable rewards must have expired before the user actually have the time to put it to use. Since loyalty is connected with high customer acquisition costs for brands, it becomes hard for brands to navigate to loyalty landscape. Therefore customers are relunctant to sign up for new loyalty since the added value they get from such programs are not immediately available or not efficient.

Most loyalty programs available dont have options for exchange. Users are usually compelled to use the loyalty points earned on their brand with them. But with the use of qiibee, loyalty points can be exchanged instantly since it is built on blockchain technology. Therefore, users do not have to entirely depend on brands on how much and what points they collect from a brand and at the same time where to put it to use.

In most cases, loyalty points have no use or value however little outside the brand that offers it, but with qiibee, loyalty points can now be harmonized through the blockchain technology which now makes it possible to make transactions with loyalty points or reward acquired from one brand that integrates with quiibee with another brand, depending on the desire of the customer. Therefore eliminating the barrier in the use of loyalty points.

In conclusion, this development would help travel companies, retailers, and financial institutions and others to reduce risks and also enhances currency values, customer relationships, transaction costs and protect the data of customers in a more effective and efficient way with mutual benefits by unifying the scattered loyalty programs.

Meet the team behind this great development

This is an entry for @originalworks Contest

More Information & Resources on QIIBEE:

• qiibee Website
• qiibee WhitePaper
• qiibee Telegram
• qiibee Medium
• qiibee Twitter
• qiibee Facebook
• qiibee Instagram
• qiibee Linkedin
• qiibee Google Plus

Thanks for your time

All images in this post were sourced from here and Qiibee WhitePaper

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