In today’s society, more and more individuals either are required to travel for work purposes or simply do so for leisure purposes. Regardless of the travel purpose, many feel that existing reward systems are not as beneficial as they can be.
This is where the Persuade Loyalty, a Minneapolis-based, global loyalty and customer relationship management (CRM) agency with ties associated with travel and hospitality marketing, comes into play. Recently, the company announced the launch of its CryptoRewards Exchange (CRE).
Based on the claims made, CRE was launched as an additional option for the agency’s clients, as they will now be offered cryptocurrency in exchange for the number of points accumulated. The CRE is said to house EZ Rent-A-Car as the first partner. The decision taken is appropriate as car rentals are essential for travel purposes and a client’s ability to earn crypto at the same time is commendable. For the time being only one partner has been revealed, however, Persuade supposedly has plans to bring together others as well.
Vice President of Client Services for Persuade Loyalty, Joe Doran believes that the decision to reward clients with crypto is sound, as EZ’s client-based is mostly millennials. He went on to say that the “EZ Money Loyalty program is a brand built for the young, savvy leisure traveler and the CRE concept resonated with EZ right away.”
To show increased acceptance of the partnership, Scott Davido, CEO and president of EZ Rent-A-Car stated that their choice of rewards “fits perfectly with the brand”. Existing studies have also concluded that crypto is widely preferred among millennials, who view it to be more meaningful and essential for financial growth.
CRE appears to be a dual service, as it not only provides beneficial rewards to users, but promotes an eased entry to the crypto world. According to Doran, “customers can create an account and own crypto within minutes versus using a traditional exchange that requires setting up digital wallets…”
The team went on to say that the CRE loyalty redemption option does not necessary only target millennials, but rather those who have keen interest in cryptocurrencies. For now, CRE will be tied to well-known coins like Ethereum, Litecoin and Bitcoin, and eventually more to come in the near future.