Our B2B Loyalty Marketplace v2
Our blockchain-based B2B Rewards Marketplace is live and with it, brands can easily select and connect their loyalty programs with each other as well as partner up, to enable their customers to exchange rewards. Besides connecting with other loyalty programs, brands can easily add the option to make their rewards exchangeable to crypto or NFTs.
We are very proud to showcase the newest version of our B2B Rewards Marketplace that significantly decreases the cost of partnership management and allows you to monetize your program at scale. Most importantly it enables your members to access the true value of your loyalty program by unlocking the purchasing power behind your loyalty points.
What Should You Care?
As we previously explored in our 2022 Global Loyalty Trends Report, the need for engaging redemption options and a good reward structure is ever-present.
One of the main issues that loyalty executives report is the fact that it takes too long for members to earn a reward, with 55% of loyalty experts stating this. This is why we see brands with a low number of engaging redemption options also suffering from low customer spending.
In reality, 65% of brands report dealing with this pain point and an additional 81% of these programs don’t even enable conversion of points as means to combat these challenges. Leading to an overall lack of efficiency when deploying and running a loyalty program.
Therefore, there are 2 main aspects of loyalty that we want to focus on to provide greater value to your members and scale your program more efficiently through our updated Loyalty Marketplace.
The updated Loyalty Marketplace offers brands the possibility to link with world-renowned partners in our loyalty ecosystem as a means to either boost engagement (buy rewards) or monetize at scale (sell rewards). Check out the data points below for further context on these possibilities.
Boost Engagement (Buy Rewards)
By integrating with world-renowned partners from our loyalty marketplace, brands can start offering a greater variety of rewards as well as additional exchange options to their own program members.
As was highlighted in our loyalty report, loyalty programs with a high active member engagement, all offer them more than 5 redemption options. Additionally, 83% of these loyalty programs displayed high customer spending and enabled the conversion of loyalty points.
Monetize At Scale (Sell Rewards)
Monetize and increase profitability at scale by connecting with selected partners in 1 click, offering your loyalty points, and eliminating partner-management costs.
Offering the right incentives and exchange options to customers can significantly boost revenue as was displayed by Bond:
66% of consumers modify the amount they spend in $$ to maximize points earned
Instantly access world-renowned brands, thousands of rewards and millions of new members, through 1 integration and 1 invoicing partner for all the brands you connect with. Our blockchain technology protects your rewards currency while providing full transparency and efficiency.
Besides expanding our loyalty marketplace with world-renowned brands, we’re constantly adding new features. One example that we’re working on, is a streamlined process to create your own NFT for your loyalty program with 0 blockchain know-how and extra time investment beyond a brief description.
Key Takeaways (TL:DR)
The need for engaging redemption options and a good reward structure is ever-present. This is why we see brands with a low number of engaging redemption options also suffering from low customer spending and engagement.
Our updated Loyalty Marketplace offers brands the possibility to link with world-renowned partners in our loyalty ecosystem as a means to either boost engagement (buy rewards) or monetize at scale (sell rewards).
We are constantly expanding our loyalty marketplace with new global brands and adding new dashboard features, including a streamlined process to create your own NFT as a reward for your loyalty program.
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