Qiibee - Rewarding Loyalty

When leaders throughout an organisation take an active genuine interest in the people they manage, when they invest real time to understand employees at a fundamental level, they create a climate for greater morale, loyalty and yes, growth.

~Patrick Lencioni

The Impact of Customer Loyalty

The world of commerce can be overwhelming. Businesses fighting tooth and nail for limited customers is now a norm.
What most Brand owners don't realize, is that it costs them between 5-25 times more to get new customers than it does to sell to those they already have.
Studies show that existing customers spend 67% more than new ones.

With this in mind, many tactical Brands have opted for programs that engage their customers and give them incentive to return.

What is a Loyalty Program?

Simply put, A customer loyalty program is a program run by a company that offers benefits to frequent customers. These benefits come in different forms. They may be discounts, free products, rebates, raffles, exclusive memberships or other promotions. The purpose of this program is to encourage the customer to return frequently and continue patronising the business.

Apart from boosting sales, these loyalty programs also aim to strengthen Customer - Brand relationship. A key element of this is making sure the customer finds the relationship beneficial else it will be ultimately fruitless.

Sadly this is the case with many such programs. The Brands try to do their part by initiating the customer loyalty program but things get complicated very quickly.

Problems Businesses Face

After launching the program, Brands now face the difficult task of informing their customers about the loyalty program, educating them how to be eligible and reminding them about the program. But,

• Most customers don't really pay attention.
• Some are enthusiastic at first but then lose steam.
• Some accumulate points and forget about the expiry dates.
• Some travel and are unable to use their points.
• Some simply forget about the points and program.
• Extra expenses are incurred in operating the database as well as security measures.

Problems Customers Face

While many people are happy at the idea of a giveaway or discount, they are quickly displeased if the process is too demanding. Customers

• don't want to have to carry around too many loyalty cards
• don't want to have to stress themselves planning ahead in other to carry the exact loyalty cards they might need that day
• don't want to be limited in their shopping options (that is to say they want to be able to shop anywhere they like and not only at a particular place).
• easily lose interest when they discover they cannot accrue points easily
• get frustrated when their points are all over the place but can't benefit from them.
• some customers don't even have the luxury of being able to afford a lot so the idea of loyalty cards seems a little too elite for them.

When things get out of hand

Case Study

I'm from an African country that has a very wide gap between the upper class and the middle class/upper lower class. As you can imagine the concept of vouchers and coupons don't really appeal to us much here. Not because we don't like free things or discounts (goodness no) but because apart from the notion that following up and keeping count of accumulated points is tedious, most people here percieve these well meaning programs as "just another means to get your money". Why? Well let's take my neighbour Mr Ubong for example. He shops at any of 5 nearby supermarkets depending on the route he takes home from work. He gets a ₦1000 card voucher for every purchase over ₦10000 he makes.
Each supermarket has their own unique voucher.
He has to accumulate ₦50,000 worth of any particular shops' vouchers before he can cash in on them.
What this means is he will have to spend about ₦2,500,000(~$7,000) just to be able to cash in all 5 shops vouchers! Not ideal for a country where 80% of the population live under $2 a day.
You see why he has trust issues? Over the years he has accumulated significant amounts of each different voucher. Individually, not near the cash-in requirement, but collectively over twice the requirement. He jokes that the vouchers are like a retirement fund because he will probably be old before he can get to use them.

This should not be the case. Customers should be happy to spend and their rewards should not be difficult to get.
This is where a revolutionary solution comes to the rescue.

Introducing Quibee

Quibee is a blockchain based loyalty program. It's major aim is to revamp and completely simplify the relationship between brands and customers by unifying fragmented markets into one symbiotic ecosystem.

By helping brands run their loyalty programs on the blockchain, Quibee gives loyal customers the freedom they deserve.

So what is Quibee Offering?

The Quibeeecosystem caters to both sides of the ecosystem. It's two pillars are

• The Developer Kit - This will be used by the Brands to design their own loyalty programs and have full control over interface and customer journey.
• The Quibee App - This will be used by the customers to manage all their loyalty tokens, trade tokens as well as be informed about new tokens and programs(like airdrops or competitions).

Benefits of uibee to Businesses

• Plug and Play. Quibee makes it easy for businesses to budget for their loyalty program and use the platform to create their brand tokens.
• businesses are able to connect to a central pool of customers and thus increase their customer base.
• Real value tokens are issued to customers to enhance satisfaction and remove deferred revenue from the business balance sheet.
• the use of the blockchain helps to checkmate fraud and security risks
• businesses save up as the blockchain has taken care of their set-up expenses for the loyalty program.

Budgeting and token issuing with Qiibee

Benefits of uibee to Customers

Now customers can

• earn on the go and not have to reach any "requirement"before they can cash in.
• store all their tokens in one place and never have to worry about forgetting any cards.
• Customers can even sell their loyalty tokens for fiat or Bitcoin.
• customers can trade tokens of one business chain for another and so do not have to be stuck with points they cannot use.
• customers don't have to worry about losing their cards or theft as all their points are now saves on the immutable blockchain.
  
  

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Now Mr Ubong can register as a consumer and trade his different tokens for one. He can then enjoy the benefits of being a loyal customer without limitations!!

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The Quibee loyalty project is tried and tested. Qiibee entered the loyalty market in 2015 and developed an application to reward loyal customers. After creating an impressive 35million data sets, they scaled it up to over 100 thousand active users and engaged over 900 Brand partners. This fruitful venture recorded over 6 million customer activities.

Recently Quibee launched a new collaboration with Latteso to test-drive and perfect their system. They launched in April 2018 and have already engaged customers in 7 countries who were able to open wallets and receive lattesocoins (Latteso tokens).

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Token

The Quibee ecosystem is powered using their QBX token. The QBX works as smart contracts created on the ethereum platform. While QBX is based on ERC-20, it also has a private blockchain on which the brand-specific loyalty tokens will run since the ethereum network is slow.
Token Sale is still ongoing.

Team

The Quibee team is spearheaded by Innovative brothers Gabriele and Gianluca Giancola. Together with their adept sister Felicia Giancola and a host of exceptional partners, they intend to bring this remarkable idea to fruition and worldwide application. The team possesses a plethora of experience in diverse fields from Sales and Design to Blockchain architecture to Marketing, Growth operations and Content Creation.

Quibee has been heavily scrutinized and then endorsed by many reputable investment companies and news agencies such as Forbes, Reuters and CoinJournal.

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The magnanimous Quibee is also giving out free airdrops here - public giveaway
and here for Steemit users only

For more information, you can visit their website here
And read their whitePaper

You can also watch this

Gabriele Giancola, Co-Founder & CEO at Qiibee - Presentation at d10e Davos

and listen to this interview with Gabriele Giancola

Feel free to reach them on any of these social media

qiibee Telegram
qiibee Medium
qiibee Twitter
qiibee Facebook
qiibee Instagram
qiibee Linkedin
qiibee Google Plus

Final Thoughts

Fortune favours the bold... And the early bird. This technology is the first if it's kind and the word "revolutionary" does not do it justice. As we've seen with huge hits like Bitcoin, ethereum and Verge, when it comes to cryptocurrency, early adoption can be very profitable to investors.
Quibeeis a solid well thought out project and the sky is the limit. It wouldn't be a bad idea to get on the train in its early days. The focused team has already laid out a roadmap for deployment.

Quibee will succeed, because they follow the cardinal rule of business. Keeping the customer happy.

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This is a submission for the @originalworks contest here

pictures were adapted from Qiibee whitePaper and indicated sources.

qiibee2018