qiibee -A betterment of loyalty programs on blockchain technology

rexdickson (51)in #originalworks • 7 years ago (edited)

The primary purpose of every business is to make profit and also to have a steady growth rate. However, this is not so simple due to the competitive nature of the business world. Some business owners and management have competitive edges over others because they indulge in various program to swerve sales to their axis. One of such method is by the use of loyalty programs.

What are loyalty Programs
Well, growing up in the village, as kids we usually picked up bottle tops of soft soda drinks and built cars with them as tyres. This practice got more interesting when brewery companies made an incentive. They advertised raffle draws and prizes of all kinds on their drinks and the codes to these draws and prizes were hidden under soft plastic caps under the bottle tops. So, we could only get these prizes by buying these drinks, right?
Money was a limitation. So we opted to go round bars and parties to pick up these bottle tops that the elderly never had any idea about(Maybe they did and didn't just care!).
We picked as many as we could, after few weeks we were all lining up before the designated depots to get our prizes per number of points(i.e. coded bottle tops). I forgot to tell you that the codes were always in an approximate of four to three bottles in a crate. So that means we worked really hard to get an equivalent of ten coded bottle tops for a point!. 10 points were taken for a round brown leather football. And at the end, not all of us got prizes even though we had points.
Well, this is sort of a failed Loyalty program and a stressful one at that.
Yes, but still a loyalty program.

Loyalty programs are programs organized by companies or brands to their customers or the general public to reward and encourage the patronage of their brand. Loyalty programs can also be organized by mall owners, home services providers, down the line to even petty retail outlets to pull more new customers and still retain the old ones. Their major aim is making the customers buy more by providing incentives which may include discount, free merchandise, advanced access to new products etc. Loyalty programs give ghetto producers insights on products that has the highest sales and patronage, it reflects which product is the consumers' favourite.

Why are Loyalty Programs Important?
A customer is more likely to trust, rely and keep on patronizing a company that uses loyalty programs?
Why?
It's a kind of cost reduction and engagement to the customer, who feels the company are not only showing they have good services and goods but are also giving him or her an opportunity of trying new ones almost for free of charge.

Based on a survey taken by Nielsen Global of Loyalty Sentiment, revealed that 84% of respondents prefer shopping with retailers that offer loyalty programs.

It says;

'The Nielsen Global Survey of Loyalty Sentiment polled more than 29,000 Internet respondents in 58 countries to evaluate consumer views on loyalty levels across 16 categories that range from a fast-moving consumer goods staple to technology products to retail establishments and found that, nearly 59% of all respondents claimed that loyalty programs were available for participation with the retailers where they had shopped. The demand for loyalty programs was exceedingly high for consumers, with about 84% of respondents stating that they were more likely to choose retailers that offered a loyalty program'

However, the present fragmented system makes it quite difficult for business to grow at the targeted rate. The absence of liquidity of earned point from loyalty programs obstruct the availability and usability of the program. The losses at both ends are undesirable. While the customer lose in terms of missed free merchandise, discount and access to new product, the business operators lose in terms of decrease in patronage and revenue spent in setting up the program. For business operators using coupon and points, liquidity of these coupons and points makes this worthwhile project undesirable.

Moreso, the system is still fragmented even if engaging and cross engaging customers are involved. But, why so?
-because in cross-engaging, the customers are only limited to brands that the former company deem products on the other platforms right for the customers or better for their gains.
For instance, Can I want to use incentives given to me by the a South African television enterprise DSTV, to buy value or time on another company like GoTV? I don't think so.
Then, how can the buyer have this freedom?

Right now, the room seems tight, right? Feels like a customer is like a cornered cat that has preys but can only choose only one to eat instead of getting all his catches -using all his points on whatsover he wishes!.
Just imagine, if there is a platform that could integrate these loyalty programs and all you just need to worry about is getting the points...then they'll give you a wide prominent net of loyalty programs you can spend the points on.

Then.. You guessed right! It's qiibee!

What is Qiibee?

Qiibee is a loyalty integration platform built on blockchain Technology. It employes the availability and liquidity of cryptocurrencies to solve the problem of the loyalty sector which happen to be a major sector in the economic world.

qiibee got into the loyalty program in 2015. They have run a successful off chain application. They are partners with over 900 brands with 100,000 active users over in just 12 months.

qiibee builds loyalty in a more efficient and secure way on the Ethereum blockchain. The decentralised ecosystem created, enables brands to run their loyalty programs on the blockchain, and also be in total control of everything through qiibee. Basically, it connects brands on the one hand, to customers on the other. Customers and users are given a wide field of freedom on what they choose to spend their points on.

qiibee main target is to grow a non-diversified communication line between business brands, customers and the loyalty programs. Due to its experience in the loyalty program industry, the qiibee team is packed with experienced hands to revolve the loyalty programs and make the system better in many ways.

Using qiibee, companies can now engage and interact with customers without gagging or much problems. This in turn, betters the services and increase income for companies while still making customers' satisfaction a priority..

So How Does qiibee Works?

This is simple. qiibee uses a plug and play system through an app that allows various brands to connect uniquely to the already-made ecosystem. qiibee keeps record and takes care of them in one wallet and you're free to accumulate and spend your points as you collect them. This is the future and I'd would grab it because I can choose to spend my points in my wallet as bitcoins, LXTs, Etc

How does Qiibee plan to solve the problem?

With a well-defined roadmap and a simplified blueprint, the qiibee team has already began work in making this work out, they've partnered with several companies who run loyalty programs, invest millions to ensure that the right team is set up and a good brand has started.

Now, I would ask, how do qiibee plan on managing the brands' perspective of gains and safety and at the same time, maximizing the satisfaction of the customers?

From the companies' view, issues like:

-High Cost of Loyalty Programs are being solved with the plan of integration of more brands at once thereby reducing cost

-Stress and massive cost of audience attention and customers engagement are reduced as qiibee offers better incentives opportunities to consumers through brands integration.

-Security is a major challenge to brands here as hell could break lose if people's points after being acquired are lost. This unexpected loss can wreck a brand down.

-Liability Accounting, now what if the customers just acquire the points and don't use them? They can't be forced or blamed. But here, qiibee offers options -unlimited- that would possibly thrash out such possibility.

Now let’s look at the customers' frustrations

-Limitation Of Choice on spending and points
When customers get me points, it is the company that decides what they can spend it on and how much points the customers can acquire.

-Limited External Value
This is when a customer gets sore disappointed after he realises that his points have no value beyond the brand and frustration sets in.

-Can’t redeem the points freely?
qiibee offers a wide range of options which darkens this limitation.

And, qiibee got all these covered.

Conclusion
So in synopsis, qiibee is in the market to give a better solution to loyalty programs as companies want to reward and engage their customers more in their businesses. Moreso, qiibee gives the customer a more beautiful option by giving them a wide variety of options they would want to spend these 'rewards' points on.

qiibee also wants to unify the market by using the blockchain technology. Just as cryptocurrency users can use exchanges to trade between currencies, qiibee wants to build a free marketplace where customers can exchange their loyalty points.