The Universal Reward Protocol — Revolutionizing Shoppers and Retailers Experiences through Blockchain and Artificial Intelligence
The Universal Reward Protocol is a blockchain-based platform that allows brands and retailers to create campaigns and reward shoppers for multiple worthy shopping behaviors.
It’s quite clear that it’s easier to have and keep existing customers buying again and again than to get new customers (leads) buying for the very first time; therefore, the Universal Reward Protocol aims to help brands and retailers to experience long-term sales by building amazing customer-relationships and trust so that these customers would be willing to do business with the retailers for many years because of the value they’re offering in meeting shoppers needs and desires conveniently.
URP to a great extent can help brands and retailers generate traffic and attention, learn better about the marketplace and their audience to fill up every possible need of their clients and can serve as a market research tool to enable them create suitable solutions for every client. URP understands that customers are the real marketing genius because if retailers truly listen to their customers, they will be open to giving more feedback about what they like, what they don’t like and the value they are willing to exchange for a product/service.
The URP web app has all kinds of tools with insights for retailers to easily comprehend existing and potential shoppers behaviors.
The younger generation is growing up with the use of the internet to make purchases. Big commercial players like Amazon and Walmart have bridged the gap in fulfilling this, so why would you go to a store, park your car wait on the queue in order to be able to buy something when now you can just go to your computer/phone, find whatever product that you want and get it shipped from Amazon same day if you’re within the United States. The biggest reason why many shoppers in this era still go to offline channels to buy products is because of the unbeatable ability to physically touch which creates a bond that leads to a confirmed buying decision. With Universal Reward Protocol, shoppers gain from both online and offline shopping activities, and since the protocol is based on Artificial Intelligence, online shoppers will enjoy its mobile application that could serve as a virtual shopping assistant, base on consented past records, which understands what products the online shoppers would most likely go for as if they were physically shopping for it in an offline store.
In 2015, the founders of Universal Reward Protocol founded Occi which is a decentralized app technology built on the observation that even though a good number of visitors would enter a point of sale and exit without buying a product, their visits should be leveraged upon because they signal a lot of information about customers interests. Base on this reasoning, the founders installed the dApp in over 100,000 square meters of stores in different retail sectors and discovered that the content of these store visits are the most actionable data that retailers can collect about their customers’ omnichannel shopping paths. The great performance of Occi in giving clear insights from shoppers in-store activities was what led to the birth and development of the Universal Reward Protocol because till date, retailers have concentrated their loyalty programs strictly for customers that make habitual purchases, for lack of creative rewarding ideas. Pure players like Amazon and Alibaba, have solved this problem a long time ago, using web cookies and trackers to detect a visitor’s interests and try to nudge him or her towards similar product or service that might interest shoppers base on historical tracked data. Think of the typical retargeting email you receive after browsing Amazon website for a new set of headphones, a gardening tool or a brand new video game. Occi helps brick-and-mortar retailers to bridge this gap and truly get a better connection with shoppers through personalized marketing.
Decentralized applications such as Occi can be used in the URP network to track shared shopping data from shoppers as their Proof-of-Behavior in order for the retailers to reward their worthy shopping activities using the Internet of Things and Artificial Intelligence technologies installed in some of the largest retailers worldwide. Occi is already a working dApp in partnership with four big brands, namely; Nestle, Auchan, Carrefour, and Galeries Lafayette. Shoppers can now enjoy all the beneﬁts of a fully customized, omnichannel reward program that is universally flexible, by interacting with the URP mobile app that is portable across all their favorite brands and retailers’ online and offline channels. Shoppers are given great control over their privacy with high priority and full transparency is ensured when publishing data on the blockchain by collecting opt-ins from shoppers for each campaign.
Benefits of the Universal Reward Protocol for Shoppers:
● The shopping data collected from shoppers by the IoT sensors is very transparent because, for each campaign created by the retailers, shoppers gain full control through the URP mobile app to select what information is displayed on the network.
● The offers and promotions viewed by shoppers in URP network are customized for each of them; therefore URP shoppers will no longer bother to view slick adverts recklessly thrown at them on general offline billboards and public online banners which could be frustrating.
● Shoppers enjoy a more personalized shopping experience that is tailored to suit their unique individual needs and desires.
● Shoppers can earn URP tokens as a reward for every relevant engagement with the various brands and retailers within the URP network.
● Shoppers can adjust the level of personalization and privacy with great flexibility.
● Shoppers enjoy high data security.
Benefits of the Universal Reward Protocol for Brands and Retailers:
● By interacting with the URP web app, retailers have the capacity to identify and analyze each visitor’s shopping path and to interact with them before, during and after their shopping activities.
● URP will help retailers manage shoppers data with automatic data protection compliance.
● Cut down the high cost (over 20 billion dollars annually) on slick advertisements thrown on billboards for public view, having very little or no impression to the majority of the individual viewers. With URP, brands and retailers will efficiently target each individual shopper using the right marketing in a unique way through customized offers & promotions with minimal costs.
● Retailers can have an unlimited means of interacting with shoppers directly through the peer to peer network.
● Retailers can create customized reward/redemption offers to make their customers more satisfied hence, higher conversion rates to leads (more sales).
● Brands and retailers through the Universal Reward Protocol web app will be able to truly personalize shoppers’ experience to meet their expectations. Retailers will be able to reward shoppers for sharing their data which will be used to make them offers that suit them perfectly.
● Retailers and Brands will be able to clearly identify what shoppers are interested in and the price they are really willing to pay through the shared data that lets the brands to anticipate on what shoppers intend to purchase either at the moment or in the future.
● Universal Reward Protocol serves as a new performance marketing tool for retailers and brands. Retailers in URP network will be able to use few clicks on the web app to define campaigns aimed at enhancing Key Performance Indicators (traffic generation, customer retainment, higher conversion rate…) by efficiently encouraging shoppers to behave in a certain preferable manner.
● Retailers will view all their various sales units, be it online or offline, through a single intervening platform which is the Universal Reward Protocol web application.
This is just the emergence of great revolution that would disrupt out-dated centralized and boring shopping days that shoppers had endured for decades. It’s now time for shoppers to be in charge of their own shopping experiences in a pleasant rewarding protocol, that also seeks to improve the impressions that brick-and-mortar retailers have on their potential clients/customers.
To receive first-hand information about the latest developments of the Universal Reward Protocol, click on the links below:
➤ Join URP Telegram Chat
➤Subscribe to URP Telegram Announcement Channel
➤ Follow URP on Twitter
➤ Go to URP Website and subscribe to the newsletter
➤ Subscribe to URP Subreddit
➤ Follow URP on Medium
This article was created in exchange for a potential token reward through Bounty0x
Bounty0x username : enidlareg