Top 5 Loyalty Use Cases of the Week #2
In our second weekly loyalty series, we are once again showcasing our selection of the top five use cases in the loyalty space.
This week we are exploring the launch of a web3 loyalty program and uncovering insights on why data could be the key to unlocking a more personalized and optimized loyalty experience.
We will also look at Liquifi and its NFT membership platform, which transforms loyalty memberships and subscriptions into easily shareable experiences via NFTs. Tune in to learn more!
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Use Case #1
Cha Cha Matcha Launches First-Of-Its-Kind Web3 Loyalty Program
“Internally, we have been working on this program with Hang since early 2022, so it’s exciting to finally see it come to life and offer Cha Cha customers this unique experience.” – Jay Gujjar (Cha Cha Matcha CEO).
As a first-of-its-kind loyalty program for Matcha lovers, Cha Cha Matcha and Hang, the first Web3-powered membership platform, are partnering to launch the Cha Cha Matcha Loyalty Program. Loyalty programs powered by Web3 enable brands to develop closer relationships with their customers.
Use Case #2
“Data is the secret sauce to success”: Sneha Narahalli, Head of Product, Sephora
During her conversation with ETBrandEquity, Sneha Narahalli, shares insights about fostering innovation, building a strong loyalty program, and winning the game of holistic omnichannel customer experience through data insights.
“Loyalty, in its very simplistic form, is giving or showing firm & constant support. Sephora moved beyond transactions, making sure loyalty is more experiential. So, the experiences we create for the client ensure our engagement with them.” – Sneha Narahalli
Use Case #3
MyDeal joins Everyday Rewards loyalty program – Power Retail
“Our Everyday Rewards members are already saving hundreds of dollars every year by boosting bonus point offers, and shopping ‘partner offers’ in the Everyday Rewards app.” – Glenn Baker (GM at Everyday Rewards)
A recent survey from Power Retail revealed that 51% of online shoppers chose the retailer based on its loyalty program offering. Additionally, 79% admitted that a loyalty membership with that retailer has increased their likelihood of purchasing more often.
Use Case #4
Liquid Access Turns Loyalty Programs into Sharable Experience
“Companies are looking for new opportunities to engage, reward, and add value to their loyalty ecosystems.” – Serge Vasin (Interim CEO, Liquid Access)
Through Liquid Access, customers can convert rewards and perks into attractive, tradeable privileges, which can be shared, traded, or sold. Adding to the liquidity of these rewards and bonuses, they can conveniently be sold for cryptocurrency on all the major ERC20-based marketplaces.
Use Case #5
Loyalty points redemptions boom as shoppers fight the cost of living crunch
“Members are cashing in their rewards points faster than usual and more are redeeming their points for the first time in response to the nation’s cost-of-living squeeze.” (The Sydney MH)
Redemption volumes in December 2022 were up 15% from December 2021, according to Marcos Meneguzzi (Executive GM at CBA). Over the last year, it was also noted that the fastest-growing reward options have been in the travel sector, with pay with points, cashback, grocery store, petrol, and retail gift cards ranking among the top.
Thank you for taking the time to read our top 5 articles of the week on loyalty programs. We hope that it has provided you with useful insights into the potential advantages that loyalty programs can offer for businesses and customers alike.
Don‘t forget to signup for early access to our upcoming Loyalty Report 2023 coming soon. Who knows what other surprises await by registering early: Global Rewards Liquidity Report (2023)
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