Customer loyalty programs are still a mystery to most businesses within the different sectors. 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.
So how do you keep your clientele? First off, there has to be a good reason for the customer to keep coming back. That is where setting up a loyalty program application becomes essential. And if your business does fancy the use of cryptocurrency, then the following blockchain application review could help you make the difference in your customer retention.
What Is Qiibee?
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. Their approach will attempt to connect the fragmented loyalty programs market and improving its quality by eliminating the inefficiencies that come with using a central data authority. 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.
The Qiibee loyalty ecosystem will consist of three 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.
- The bridge 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 Blockchain Loyalty Rewards Network Benefits
- Secure- the application owners and customers need not worry about issues of their data safety as the database utilizes Ethereum structure for security
- Simplicity- the user-friendly developer kit allows the application owner a set of tools to build their applications with little effort
- Savings- rather than spend your resources, you can invest in Qiibee's platform to help reduce the customer acquisition costs
- Customer engagement- consumers will gain more interest by trying to earn more tokens
- Data ownership and control- each user has authority and power to view any transaction that takes place within the ecosystem.
- Real return regarding value- QBX has a public benefit and clients can redeem the token for cryptocurrency or Fiat currency.
Qiibee Loyalty Program Categories
There are different groups within the loyalty program sector that stand to gain from such a venture. Qiibee classifies these categories into two main types.
- Single-branded loyalty schemes- for companies or organizations that target a single audience for their reward program
- Loyalty Program coalitions- allows for companies with millions of customers to integrate their reward programs with Qiibee's ecosystem
Qiibee QBX ICO Details
The QBX coin is ERC20 compatible and built on the Ethereum Blockchain. Qiibee is working hard to finalize both token design and economics. The whitepaper doesn't offer any information on the companies ICO dates as of the time this article was written. You can check their website often for updates.
There always exists an underlying risk that associates the loss or manipulation of data within loyalty programs. The concept by Qiibee to decentralize the reward programs could make it an excellent option in helping to cut back on the majority of the costs with security and management of the data. Additionally, Qiibee can help eliminate the risk of attack or manipulation by malicious third-parties. In assumption, Qiibee can help your business grow in their customer retention capabilities by providing an active community, support service, and an API to ensure you enjoy a more comfortable integration of your loyalty rewards programs.