Loyalty programs are structured marketing strategies designed by merchants to encourage customers to continue to shop at or use the services of businesses associated with each program. These programs exist covering most types of commerce, each one having varying features and rewards-schemes.
Loyalty programs are an obvious solution to many problems facing today’s brands which makes it easy to feel like they can do no wrong. However, Most of the time the primary focus is often on gaining new customers rather than work on retaining the already existing customers. Additionally, obtaining new clients is usually more expensive since marketing and advertising to take a massive chunk of the amount of income the business will earn. That means the result would see you gain new ones at a cost that could be financial or end up losing the previous ones.
The loyalty market is ripe for disruption, according to a number of brands who believe blockchain is the answer to building trust and improving customer experience in the long term. Blockchain technology can be leveraged to offer loyalty programs beneficial to both brands and their customers. And, blockchain can address hurdles such as loyalty program fragmentation, account inactivity and a user’s concerns over security and streamlining data management.
Qiibee is a decentralized Ethereum-based loyalty ecosystem that will allow businesses to tokenize their loyalty programs through the developer interface and the loyalty protocol. Qiibee’s business model aims to build peer-to-peer, low-cost, low-energy micropayment services between merchants and consumers, bypassing third party or central data authority approval. Consequently, Qiibee will aim to become the community to offer a combination of loyalty programs to the crypto technology and create a crypto loyalty ecosystem.
Qiibee, found online at https://qiibee.com/, mission is to help brands run their loyalty programs on the blockchain in efficient way and fully control. Qiibee emphasizes the integration experience for brands by offering a software development kit. The user-friendly developer kit allows the application owner a set of tools to build their applications with little effort. Qiibee will also support brands with the help of marketing agencies and the qiibee software developer kit.
Within the qiibee, each user has authority and power to view any transaction that takes place within the ecosystem. What is more, they have a larger set of options to choose from and a more convenient way of managing their loyalty programs. Also, they are free to exit the ecosystem anytime and can participate in the crypto market without buying crypto with their own FIAT money.
The qiibee ecosystem will consist of several layers:
- Customer layer: clients, get to access a UI with different loyalty programs from where they can earn or interact with businesses
- Decentralized Loyalty App layer: consists of the Qiibee wallet, exchange and the digital currency, QBX.
- Software Developer Kit layer: links up the app layer to the blockchain and consists of the platform and the development kit for the tokenizing process to take place
- Blockchain layer: forms the core of the ecosystem through the Ethereum blockchain
Qiibee provides numerous features and benefits, include in:
For Brands:
- Plug & Play: Connect to the LoyaltyToken Protocol and launch your own token
- Engaged customers: Higher engagement and customer lifetime value
- Remove liability: Real value tokens free up your balance sheet
- Remove cost and risk: Blockchain technology is very efficient and secure
For Consumers:
- Access them all: Store all your loyalty tokens in one place
- Trade them all: Exchange loyalty tokens against one another
- Earn real value: Sell your loyalty tokens for other cryptocurrencies or FIAT
- Enjoy security: Blockchain technology protects your data
Qiibee cryptocurrency token, QBX, has a particular рurроѕе whісh is to fuеl the platform ecosystem. Brands can use the QBX to create and distribute their own loyalty token. Customers can collect, exchange and redeem these loyalty tokens inside the qiibee ecosystem or convert them to QBX to exchange for crypto and FIAT, since it was derived from a standard ERC20.
For more information about qiibee and its QBX, you can visit online at https://qiibee.com/ or visit the whitepaper available at https://static.qiibee.com/qiibee-White-Paper.pdf. You can also updates the information about qiibee on their official telegram group, https://t.me/qiibee.
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