Rewards Token: Most Evolved Loyalty Program Ecosystem

REWARDS.com: MOST EVOLVED LOYALTY PROGRAM ECOSYSTEM


Loyalty programs are structured marketing strategies designed by merchants to encourage customers to continue to shop at or use the services of businesses associated with each program. These programs exist covering most types of commerce, each one having varying features and rewards- schemes.

Statistics reveal that it costs 5-25x more to acquire a new customer than it does to sell to an existing one. Not only that, but existing customers spend 67% more than new customers. In short, customer loyalty really pays off – and customer loyalty programs pay for themselves.
In light of statistics like these, businesses need to think about what they are doing to keep their customers coming back to their businesses. 82 % of U.S. adults says they’re loyal to brands.
The industry is a billion dollar one and still on the growth trajectory but it is something that dates back to more than 2oo years back. Today, the system is being blended with technology that gives it a new face value. With the introduction of the blockchain technology, rewards.com seeks to revolutionize the whole ecosystem by handing back to the people the power of loyalty.


The Market situation

Consumers are submerged by too many loyalty schemes with their ever changing redemption values and exclusions. Traders are confronted with challenges in managing their own reward programs as they struggle with growing liabilities, increasing operational costs and the general inefficiencies of the system.
The industry though, continues to grow amidst the woes identified. Statistics put the growth rate at more than 29% annually and the fact that more than 83% of global consumers belong to at least one consumer loyalty program. Reward Token is set to finally resolve this problem through its enterprising use of the blockchain


True Reward, True Values



Reward Token is actually creating a solution to the drawbacks of the industry, through the use of the blockchain technology to bring cryptocurrency to the mass consumer market. It is to encourage consumers to benefit from having and making use of digital currency.
The platform is doing something remarkable by bringing more than a hundred million commodities and seven thousand retail business operators, cutting across different industries. Rewards.com becomes a marketplace that will allow customers to earn and redeem – peculiarly called RWRD tokens, at any participating merchant. This will popularize cryptocurrency, build a strong token economy and truly restore value to the customer reward.


Rewards.com – Technology and Digital currency

Reward Token, enabled by a combination of blockchain and cryptocurrency, is meant to solve the existing sticking points with the business model. As pointed out earlier, the model is not new, but giving power to consumers creates value and user experience.
The planned platform will allow users to shop online or in-store to receive RWRD tokens. Those RWRD tokens would then be used to make additional purchases clothes, food, and book travel, buy gift cards or even toothpaste.

Their ecosystem is meant to provide a fully transparent market value for its tokens based on consumer engagement and behavior in the large rewards ecosystem, thanks to the use of blockchain. The plan is also to allow the rewards token to be converted to cash for
presentation and processing upon redemption, consumers redeeming tokens are not limited by point restrictions, blackout periods and peak payment times.
Rewards.com is to the rescue. 




Useful Links:                  Website | Whitepaper Announcement Thread


Authors Details:

Bitcointalk profile:  Orangeseller
Ethereum Address: 0x1461C3727dC461EfF7B32751dFf56c51c2218d5E


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