Using a loyalty program ensures increased repeat purchases, customer retention, and a loyal following of brand advocates. It has always been one of the most beneficial marketing strategies for diverse industries. However, there is a rapid decline in the participation of customers in traditional loyalty programs due to multiple challenges.
Key players believe that solutions built with emerging technologies like blockchain can revive the potential of loyalty programs. Alike, our experts at Oodles believe that blockchain with cryptocurrency and smart contract development for a loyalty program can be a key growth enabler.
Let us understand the challenges that preclude the widespread adoption of traditional loyalty programs and solutions that blockchain provides.