Background on Blockchain Loyalty
Loyalty reward programs exist in many industries from airlines, grocery stores and coffee shops. Its main purpose is to build customer loyalty and generate repeat business. According to Philip Shelper*, author of “Blockchain Loyalty: Disrupting Loyalty and Reinventing Marketing Using Cryptocurrencies”, there are six elements that exhibit in a successful loyalty program: simple, emotional, valuable, surprising, differentiated and developing.
*Philip Shelper has over 12 years’ experience within the loyalty industry, including roles at Qantas Frequent Flyer and Vodafone, as well as running his own loyalty management consultancy, Loyalty & Reward Co, which he established in 2013. Loyalty & Reward Co focuses on loyalty program design and implementation for major companies globally. Phil is a member of over 140 loyalty programs, and a researcher of loyalty psychology and loyalty history, all ow which he uses to understand the essential dynamics of what makes a successful loyalty program. He is an active cryptocurrency trader and presents regularly on blockchain loyalty at conferences and meet-ups around the world. Phil is always interested to share knowledge about blockchain loyalty, and regularly does so via www.blockchainloyalty.io, a global blockchain loyalty resource centre.