Large and medium enterprises worldwide are slowly joining the bandwagon in using cryptocurrency in customer reward programs. With crypto gaining acceptance in commerce, it is natural that its uses would evolve. Take a look at a few of them and get ready to capitalize on an emerging trend.
An Initial Coin Offering based on the Ethereum blockchain architecture launched by Xirkle e-commerce store and search engine company as a reward program for their customers before the ICO is listed on exchanges. The store was founded and is being developed by Tom Chhuong – a Citibank VP and SEO manager.
It is described as a reward program for customer purchases on Xirkle Store. A buyer can earn fractional XIR coins for staking their coins on their online shopping accounts.
The pre-ICO sale started on Feb 21 2018 and is scheduled to end on Mar 31 2018 after which the coin will be listed on cryptocurrency exchanges.
The company has made efforts to gain traction and visibility by offering free coins when you sign up using their Airdrop link, make a purchase and share their offer on social media.
A Japanese retail, banking, e-commerce, communications and multi- investment giant established in1997 by Hiroshi Mikitani.
At the Mobile World Congress 2018 in Barcelona, the CEO announced a loyalty program by the corporation that will be based on their own crypto currency – Rakuten Coin. Speculation is that they are looking to drive up more transactions on their platform. This comes on the heels of reports indicating membership to reward programs increasing by 15% but abandonment at a rate of 60%. Their rewards will be for purchase or sell of items/services in any of their stores or marketplaces.
Monaco, a token trading company started in 2016. It has launched a prepaid card that can be funded with Ether or Bitcoin. You get to earn rewards by using the card. Monaco also boasts a listed coin on crypto currency exchanges.
A partnership between this European e-payment company and (Coinify aPs) blockchain payment service provider that brings you a redemption of loyalty points for bitcoin. A move that seems targeted to increase customer engagement and loyalty. Loylogic boasts of millions of loyalty members worldwide so this might be a profitable partnership for both.
An anonymous chatbot created in 2014 that connects web programmers in forums. Available on Facebook, Telegram, Sms and Kik. The service rewards people for creating integrations & contributing to the API’s build-up and data mining.
Reports on performance of such programs are still sketchy (seeing as it is still new) but from the hype and positive reception of crypto currencies worldwide, you can’t help but realise the potential this customer retention technique has. Think about it.