qiibee: A DECENTRALIZED LOYALTY ECOSYSTEM
Having a loyalty program in place is crucial for customer acquisition and retention for any company that is keen on maintaining growth. It’s safe to say that the customer is King, and once they can be gotten and retained, half the battle is won.
This is a daily and monthly battle for even the biggest brands, and more often than not, companies always keep an eye on their DAU’s and MAU’s.
Many companies have no clue on how to go about retaining customers or how to continually evolve to keep on bringing in new customers. On the other hand, we have some company’s that use a totally wrong approach when implementing such strategies.
One of the best ways costumers can be kept happy, seeing they are the source of revenue is loyalty points/bonuses.
Unfortunately, majority of the companies that have this in place have issues ranging from unclaimed loyalty bonuses, stressful processes, fragmentation of the market and also poor customer awareness/engagement.
For instance, there is a luxury hotel chain present in more than 100 countries. You get about 10 points on the average for every $10 spent. In many situations, gathering these points is an extremely slow process, and to top it off, these points could not be used in every country they were present in (one country in some cases), and I found this very discouraging and not worth the hassle seeing they will take decades to redeem, and I couldn’t liquidate the tiny bit I had amassed. A lot of people I know found this ridiculous, and couldn’t care less. It ended up making some customers have a look at their options.
According to this report by Bond Band Loyalty, $100b worth of loyalty points are being left unclaimed. This is caused by a number of factors, and according to the graph below, the most likely reason for unclaimed points is not being aware of their points balance.
*source: Bond Band LoyaltyThis and many more, are the reasons qiibeecame into existence. But before we look at who or what qiibee is, lets look more critically at some of the issues faced by companies and users.
As we stated in the preceding section, the problems faced by stakeholders in this sector are vast. From a users perspective some of the issues are:
Source: Pixabay.comLack of a Unique Working System: Customers can feel overwhelmed and confused, when there are a host of options to select from. If there was a platform where they could compare and choose options they feel they are best suited to, this would make the process easier, and we would see better engagement. These are downsides of a fragmented market.
Lack of Transparency: Humans like being in some sort of control, naturally. When customers can see and compare the options open to them, it leads to a better experience. If customers are able to know exactly what they should expect, and they can collect, redeem, swap, gift such bonuses, these will go a long way in ensuring such bonuses aren’t left unclaimed and would translate to an improved customer experience.
Communication issues: Customers would prefer to be able to relate directly with their favourite brands easily. When they have questions, and there are constraints, customers tend to lose interest easily.
For Companies:
Customer acquisition cost:The cost of acquiring customers via loyalty programs is steep. Perhaps, if there was an ecosystem where brands could thrive by informing users about their programs, this problem would be done away with.
Financial headache: When companies are trying to balance their books, unclaimed rewards become a financial liability for them.
Data Breach: The security risks of holding on to a huge pool of customer data increases, as the data increases. Having a solution that caters to this would definitely come in handy.
All these problems are taken care of by the qiibee solution.
qiibee is changing the way loyalty programs are handled. They have created a decentralised solution (Ethereum blockchain based) on which any company (new or existing) can build their own customised loyalty program. Thus, improving the way brands and customers relate and communicate with each other.
Age is not always a sign of being capable, and the figures seem to bear testament to the fact that this is true with regards to qiibee. qiibee delved into the loyalty sector in 2015. However, the team has more than 16 years experience in the loyalty sector.
What they have managed to achieve in such a little period is astounding. Take a look at the figures below.
The platform is live, and they are scaling rapidly seeing they have partnerships with top marketing agencies.
The Ethereum blockchain, having an improvement on transaction speeds compared to its predecessor, is still too slow to cater to a large pool of requests, and seeing transaction costs can be really high, a solution to this problem was needed. This blockchain comes with it’s own limitations, which is why qiibee decided to built a separate private chain connected to the public infrastructure, to tackle these issues. The results? Faster transaction speeds, and extremely low costs.
How the public and private blockchain communicateBrands have full control of their loyalty programs, and do not have to worry about complex processes. Brands will have access to development kits and they can develop their own tokens for their loyalty programs. All brands will buy QBX tokens, which they will trade for their own tokens.
How it Works
When a customer signs up for the loyalty program of a brand, a wallet is created for them. If they do decide to join another program by a different brand, they do not need to create another wallet. Seeing all tokens created on the ecosystem are connected to QBX tokens, customers can manage every single loyalty token they have earned, and they can decide to pass it on to family/friends, swap it or convert it to fiat/other cryptocurrencies, via third party integrations. These tokens can be viewed in the “Overview Section”.
Customers experience a type of freedom never experienced before seeing they have a larger pool of brands to choose from, that match what they seek via the qiibee app. This changes the way one interacts with loyalty programs, entirely.
The qiibee app also gives users the opportunity to get information about loyalty programs, seeing brands can use it to create awareness about their programs. This would also lead to better engagement and users will be more willing to participate in programs of interest. If you are like me that has had nasty experiences with loyalty programs, this is truly a breath of fresh air.
Picture of @loyalty on the blockchain here@
Benefits for brands
Brands can take advantage of the qiibee platform to create awareness about their loyalty programs. Loyalty programs have two main components, which are rewards and redemption.
Steps brands take:
Reward feature
-Brand decides how much they want to allocate to their loyalty program. Based on this, the company purchases QBX tokens.
-These are sent to qiibee who create loyalty tokens and have them sent back to the brand.
-brands then determine the criteria that needs to be met to get these loyalty tokens.
Redemption
-Brand decides what their redemption budget will be.
-Customers can then redeem tokens to get gifts, as set by the brands.
-Brands receive loyalty tokens back, and the cycle continues.
Looking to the Future
The beauty about qiibee is that they are always learning from their experiences, trying to improve, and keep on listening to the needs of the brands and customers involved in the process.
Having a listening year is key to improving, and listening to ones customers will always take one far. This would be beneficial in improving their plug and play solution for brands.
Having partnerships with marketing agencies, and creating awareness on the Steem blockchain on other channels will help greatly in reaching new frontiers.
qiibee also plans to expand in Europe and also into Asia, via partnerships with local agencies. They should also keep an eye on other markets, irrespective of rollout timeline.
As more brands adopt the qiibee option and it goes mainstream, the value of QBX tokens will rise, and this would lead to more value being offered.
To improve engagement on the ecosystem and drive redemption behaviour, strategies to foster better awareness and clear communication channels should be worked on on a regular basis and keep on evolving.
As long qiibee keeps on listening and putting their users first, up is the only way to go from here. Hopefully, sooner rather than later, the platform would go mainstream, and one more problem faced by millions around the world would be on its way to becoming history.
16 years experience in the loyalty sector 
qiibee’s airdrop (free crypto’s) is live, and it concludes in 12 days. 7,905, 000 QBX tokens will be distributed. No KYC is needed. More information below.
Seed round is over. However, if you are interested in the private sale, you can contact qiibee via [email protected]
qiibee is hiring! If you interested in seeing current openings, and believe you have extra source, click here
List of supported exchanges would be dropped as soon as possible. Talks are still ongoing.
QIIBEE IN THE NEWS
qiibee has been in the news a lot.
As reported by Forbes. 5 Blockchain Opportunities No Company Can Afford to Miss
On Investing. Soros, Rockefeller Now Trading Cryptocurrencies. Good Time To Get In?
qiibee Airdrop & Steemit Special!
qiibee is doing an Airdrop!
There are two ways to join:
Option 1: qiibee airdrop page
Go to the qiibee airdrop page, hit "join aidrop", and just follow the steps to earn up 300 QBX!
Option 2: Steemit Aidrop!
qiibee has also kindly offered a special Steemit airdrop! This is a bonus on top of the normal airdrop, to the tune of 50 QBX for up to 2,500 people.
To take part:
Message @bountyworks with your Telegram username as well as your ETH address in the memo!
Join qiibee's Telegram Group and stay there.
This is how the memo to @bountyworks should be formatted.
Limit of 1 ETH address per person! To take part in the airdrop you do not need to participate in the contest. Just send a memo with your ETH address to @bountyworks!
Please note everyone will be able to see the ETH address you send in the memo. So make a new ETH address or use one that you are okay with being public! Do NOT accidentally send a private key or any other personal information! For more information on the airdrop go here
To get the @bountyworks airdrop, send your ETH address before May 30th! On May 30th the ETH addresses for the drop will be handed over to the team at qiibee!
Thanks to the qiibee team for doing the Steemit special!
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MORE INFORMATION & RESOURCES:
To visit qiibee's website, click here
To read qiibee's WhitePaper, kindly click this link
To join qiibee's Telegram group, click here
To follow qiibee's blog on Medium, click here
To keep updated with qiibee's tweets, click here
To be updated on Facebook, click here
To follow qiibee on Instagram, click here
Click here to follow qiibee's LinkedIn page.
Click here to follow up on Google Plus
All images used with permission from qiibee
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well written post. Easy to read. Loyalty programs SADLY remind me of latest movie "Ready Player One". have you seen it? if you're into Virtual Reality then i would totally recommend.
I upvoted to many people lately and my voting power is only around 50% so i need to recharge it.
But i will follow you closely. Good luck with the contest
Cheers,
Piotr
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