qiibee: Be Rewarded With Brand Tokens for Being a Loyal Customer
One of the struggles of different retail industries is attracting new customers. Physical and digital advertisings, displays, promotions, and other forms of endorsements are evident that businesses are constantly facing the struggle of enticing newbies’ interests to give their products or services a try. Some marketers even do desperate moves just to attract a new bandwagon of consumers.
Well, acquiring new customers is important, but retaining them for long-term is more substantial for this could also mean accelerating the potential sales in the long run. As the old saying goes, “Make new friends, but keep the old”. This does not necessarily mean discontinuing to catch new customers but rather keeping a large number of those consumers for a long haul.
How to make them stay?
This question is very common to personal relationships -- and businesses. Providing quality products and services is obvious, but if you fail to stay connected with your prospects, they will just end up looking for the ones who are willing to give them more than what you are able to offer.
Advanced access to new products, additional discounts, incentives, rebates, free merchandise, who wouldn’t want such? Admit it or not, all of us are hungry for freebies and giveaways. Exciting offers make us crave to buy more, thus creating a customer loyalty to our products and service providers.
For this reason, more and more companies and businesses are focusing further on how to create such loyalty from their customers. In fact, consumer loyalty programs have surged up drastically for the past years, allowing businesses to continually hook their consumers.
The Fragmented System of Customer Loyalty Programs
Though the brands’ efforts in reaching out to their consumers through providing customer loyalty programs are commendable, the fragmented system of consumer loyalty programs still prohibits the consumers from maximizing their loyalty privileges due to the following reasons:
Countless customer loyalty programs. Well, this could be a good news especially to those who really love collecting loyalty points. However, this could also lead to the difficulty of picking the most suitable loyalty programs as there is still a need to sign up before enjoying those loyalty benefits.
Unredeemed Points. Some loyalty points are so small that they cannot reach the minimum redemption requirement. There are also instances wherein you aren’t able to visit the same brand more often, preventing you from accumulating the necessary points, and leaving the collected ones to waste.
Limitations and Low Liquidity. Most brands only allow certain products to be exchanged. Apart from that, those accumulated points aren’t convertible to cash. Wouldn’t it be nice to just receive those points in cold cash?
Lack of Transparency. Oftentimes, the checking of accumulated points isn’t widely accessible to the customers. Only a few brands let their customers check those accumulated points online.
My First-hand Loyalty Program Experience
Last October 2017, the mall teller encouraged me to subscribe for a loyalty program to accumulate some points while spending for groceries. That time, I bought a refrigerator and according to her, I could gain big points for such purchase, thus having a loyalty card would be a great advantage. I was totally enticed by her words. And to make the long story short, I paid 100 pesos or 2 bucks for the loyalty program signup.
Right now, I am quite discouraged to sign up for customer loyalty programs for I know they will just end up the same way. But when I learned about this blockchain-based loyalty ecosystem named qiibee, my views regarding loyalty programs changed positively.
What is qiibee and How will it change the Customer Loyalty Program Sector?
Finally, the blockchain technology has already reached the loyalty program sector. The main objective behind this blockchain integration is to unify the currently dispersed customer loyalty programs offered by different companies.
Instead of loyalty points, brands will issue their personalized loyalty tokens to their respective customers. Such tokens can be exchanged to other brand tokens and can also be converted to fiat money.
To better understand this, let me use a visual representation of how qiibee’s loyalty ecosystem works:
Say I bought a Whopper sandwich from the famous Burger King. Since Burger King has already integrated the blockchain technology into their loyalty program, I got their personalized token, which they called the “Whoppercoin” instead of giving the usual loyalty points every time I purchase my favorite Whopper sandwich.
What now? What should I do with this Whoppercoin?
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Well, it is still the usual thing with loyalty points. Once I reach the minimum redemption requirement, I could exchange it for another Whooper sandwich.
And that’s it?
What if I tell you that you could also get a Dunkin Donut through that Whoopercoin?
Whut?
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Yes it is possible by converting my Whoopercoin to other tokens present in the qiibee ecosystem. In this case, I’ll be converting my Whoopercoins to Dunkincoins in order to acquire some dunkin donuts.
What if I just want to convert my Whoppercoin to a cold cash? Is it possible?
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Through the qiibee loyalty ecosystem, it is very possible. I just have to convert my Whoopercoin into qiibee coins or QBX token. After that, I will exchange the QBX token to leading cryptocurrencies like bitcoin (BTC) and ethereum (ETH) to external cryptocurrency exchanges like CoinGecko. Since BTC and ETH have real values in the actual market, I could eventually convert it into FIAT money.
Amazing, isn’t it?
Now, just imagine if all your favorite brands will adapt this kind of technology using the qiibee ecosystem! No loyalty points will go to waste for you could always convert it to other brand tokens of your choice.
How could it be possible?
Once a certain brand decides to integrate the blockchain technology with their customer loyalty program, qiibee allows such brand to build its own program through their own brand tokens which will run on the qiibee ecosystem. The different brand tokens will then be accessed and traded internally in qiibee’s loyalty wallet. You can also send your brand tokens to other qiibee users.
What Change Will qiibee Bring to the Loyalty Sector?
qiibee will totally revolutionize the conventional way of dealing with customer loyalty programs not only to the loyal customers but also to the brands. The consumers will be able to enjoy every bit of their loyalty points and trade it with the brand of their choice or just convert it directly to cash.
Most importantly, customers will enjoy the transparency of their accumulated points as they don’t have to ask the counter all the time about the number of points that they have already accumulated.
On the other hand, the brands who will be adapting this system will experience an efficient loyalty program at low cost. Aside from that, their brands will gain more popularity once it will be listed in the qiibee ecosystem.
A good loyalty program is not just about giving away stuff to repeat customers, but a channel to strengthen customer relationships. With qiibee, the collection of loyalty rewards will be enjoyable and beneficial to the loyalty sector as a whole.
Integration of the Blockchain Technology to the Real World
Since the creation of the blockchain technology, countless promising programs have already been born both in the virtual and in the actual world. We have already witnessed some physical stores accepting bitcoin as payments, and it will never be long before we exercise cashless payments in our favorite stores with the integration of the blockchain technology. Eventually, stores will not only accept bitcoin but also brand tokens.
Well explained and comprehensive post. It is great that there are things like this now. It would be nice when every shop and store gets on crypto and blockchain so we do not have the need to carry cash.
I strongly agree with you! We are now entering the era of cashless payments :D
You killed it with the coin graphics,
Well done!
Thankyou @dmilliz!
meron din akong mga advanatge card, rewads card, loyalty at getgo rewards.. pero pag d ka nman talaga bulky shopper matatagalan karin ma redeem yung mga rewards niyan.. pero tama ka ma fe feel ni customer na vi na value sila..
Exactly. Hindi rin ako bulk shopper pero maganda tong innovation na qiibee. Loyalty points will never go to waste since convertible siya to other brand tokens or even sa cash.
Dmd, TOP 1 MILKER! ahahaha
HAHAHAHAHAHHAAHA KIGWA KA CHUCK XD
🙌Truly you deserved the position and even with more extra reward
I never got bored reading your piece!
#excellento 👌💯
Submitted.
Ayay daugonon naman ni oy @smaeunabs
Wow, crazy graphics. You deserve first place.
Really broke it down properly. Nice one!
Came here to read your article as you are the winner of the Qiibee contest and I must say that I am wowed. This is so thorough and well written, congratulation! As a reader, it helps me understand more about what is a goid quality writing.
Congrats! first place.