Qiibee: Exchanging loyalty between brands and customers.

Our brand loyalty is finally going to be duly valued

Brand Loyalty is a concept that many companies have taken up for a while now it is the tendency for a customer to patronize a particular brand regardless of cost or some other reasons that could deter satisfaction like quantity. So brands like Coca-Cola, Pepsi and so on developed what is called loyalty programs to engage and reward customers for their continued patronage to the brand.

An example of this program is the Coca-Cola programmed that ended on June 2017. It was called My Coke Rewards (MCR) celebrating and rewarding loyal customers since 2006. Customers will enter codes found on brand's product on a website for loyalty points which will be rewarded. All unused points was now donated to charity.

The issue with loyalty programs is that we the customers are not incentivized enough by the rewards of the programs and the brands have issues in creating the optimal reward system that can entice customers to participate in the program and also reduce incurred cost.
Of course, there are so many loyalty programs that we have to choose from, that we have the headache of having to choose the brand that best rewards loyalty. So because of the quantity of programs difficulty to redeem and transparency, these loyalty programs become unredeemed and we the customers feel less appreciated.

Qibee impact on the loyalty program sector

Qibee is a blockchain based loyalty program platform that gives brands the opportunity to offer their loyalty programs through the use of blockchain technology to customers and also exposing customers to a unified array of loyalty programs.
The loyalty program sector is a growing sector in the economy , many more companies are adopting this programs as an integral part of their daily business because with the growing economy there will be more competition and these loyalty programs are a chance to reward loyal customers and give them a reason to stick with the brand.
The Sector is facing a lot of challenges.
For businesses: High customer acquisition costs incurred by a company in setting up these programs especially because new customers might not want to get involved in the program, high levels of risk and inefficiencies that could occur in the program especially with large amount of data that the company has to deal with, low levels of engagement and redemption by customers and also loyalty points are sort of a deferred revenue so inconsistencies are harmful to the accounts.
For customers: They are dealing with a highly fragmented market with a wide array of programs , they become confused and end up not actually choosing anyone causing wastage and a great loss to brands whose loyalty brands have been declined.
Also there is no flexibility in exchange of loyalty points because loyalty points on one brand is based entirely on that brand and no real value outside brand domain.
I for one have been in a situation where I became irritated with a loyalty program organized by a beer company where codes which are attached to gifts are placed under the caps but at most times when I buy the beer and check under the cap ,all I see is try again and that was how I gave up on that loyalty program.

The Qiibee Solution

With the Qiibee, there is an easier way of implementing these programs; by using the blockchain technology, qiibee is offering a decentralized and unified loyalty market. A marketplace where customers can easily, freely and securely exchange their loyalty points. On the platform, the aforementioned challenges are kicked out , so the brands and customers have a satisfactory loyalty program experience.

For brands:

Source: https://mspsteem.com/crypto/@jesusjacr/qiibee-blockchain-rewards-loyalty

Qiibee gives a brand the flexibility of converting loyalty budget into brand tokens and also gives the brand full control over the affairs of the program.

A brand can achieve higher customer engagement; just like with the cryptocurrency market , there will be variations in brand token’s value, so customers will be enticed to be active and also brands have access to a large community of loyal customers
There is reduced level of costs in setting up programs because customers which will boost efficiency will be put forward to brand and customers will be responsible for their qiibee accounts , so risk of data breach is at a low.

For customers:

Source: qiibee

There is transparency in all dealings concerning brand tokens. Like a marketplace, customers can trade tokens with each other and participate in different contests and store in a wallet provided by qiibee.
Brand tokens are actually crypto currencies connected to Qiibee token (QBX) which gives it a public value. It also gives customers the ability to trade loyalty tokens for cash or other crypto currencies

Source: https://steemit.com/blockchain/@okipeter/qiibee-a-queen-bee-at-loyalty-programs

To achieve the aforementioned solutions, The Qiibee platform is supported by two pillars: 1) The developer kit which gives the brand the power to build the loyalty program and the appropriate tools to efficiently run it and the 2)qiibee app which is the interface that the customers use to communicate and participate in the qiibee ecosystem. Making interaction with loyalty somewhat of a socio-economic type.

Conclusion

The current loyalty market Is flawed greatly, from data breaches to high amount of unredeemed loyalty points to high customer acquisition costs to customers feeling unrecognized because of the inability of brands to finds ways of designing loyalty programs that will increase customer satisfaction.

These problems are non-existent on the qiibee eco system which by using the blockchain technology (specifically the ethereum blockchain because it gives more decentralization and a lot of business are already using it) provides a more secure and flexible transaction system.

A case study of the qiibee ecosystem application in real life is in the latesso (second largest coffee producer in Switzerland) roll-out which is explained further in the qiibee whitepaper.
Customers will find it easy to monetize their time and loyalty to brands with easy conversion between cryptos and transaction with other customers with rewards and redemption promos. The app is just an awesome experience which gives the ecosystem mobility and attractiveness.
The developer’s kit ensures that the design and running of loyalty programs does not require hiring expensive high level developers to build the system reducing cost.