BitReward: Cryptocurrency as a New Form of Reward in Loyalty Program
BitReward considers loyalty program is one of the most effective marketing strategies that a retailer can use to retain and gain new customers. Through this program, retailers can reduce advertising costs because the loyal customers have helped them to advertise their products. A loyal customer certainly has the right to get rewards from what it does for a retailer, but often retailers give rewards that are considered ineffective, unattractive, and even useless.
Problems in the loyalty program
The main problem of a loyalty program is the way and type of rewards that retailers give to customers. Consumers often get rewards that do not even fit and only add to the retailer's profit. Retailers often use the reward as part of a sales strategy, not a reward in the truest sense.
Vouchers and discounts are the most rewarded form of retailers. Consumers who follow the loyalty program will get a voucher and discount on a regular basis. The problem is that those kinds of rewards are often incompatible with the needs of consumers.
For example, a consumer will get a voucher and a discount when they successfully invite several people in a certain amount to become a consumer retailer. Then what will the loyal customers get, a cup of Starbuck coffee-vouchers? It does not make any sense. The value of the reward is clearly not worth the amount of profit that retailers can get from new customers who shop at their place.
Some other retailers will give discounts as rewards to their loyal customers. Unfortunately, the discount is only valid for purchases with a certain value. A consumer may get a 10% discount voucher after he buys a product for $ 200. The discount also applies only to the purchase of a particular product, a product that may not be required. This is definitely a way retailers use to trap their loyal customers. Discounts are usually given for products that are less scalable and often not required by their loyal customers.
BitReward will place retailers and customers in a mutually beneficial position. consumers will not find a method of giving a harmful reward. BitReward has a new breakthrough in reward is using cryptocurrency. BitReward will provide a fair reward to consumers using BIT. This reward has no strict time limit or usage requirements (unlike most rewards provided by traditional retailers). Retailers incorporated in the BitReward ecosystem are those who trust and truly value their loyal customers.
How to get this?
To get BIT, both retailers and the customer must become a member of the BitReward ecosystem. They will consciously become an important element in providing rewards and fair benefits to all existing in the ecosystem. BIT can be obtained through a token sale which will be divided into several sales stages. BIT will be sold for private pre-sale, pre-sale, whitelist pre-sale, and crowdsale.
Currently, BitReward token sales are already at the whitelist pre-sale stage and have raised $ 6 million. Retailers and customers can buy the token of 37,000 BIT per 1 ETH. The token bidding will continue until 9 May 2018. Through cryptocurrency, BitReward believes that the loyalty program will be an effective and fair marketing strategy.