Retail Reloaded: The Blockchain Rewards Revolution

You may be familiar with the concept of ‘the blockchain’. You might even have dabbled with cryptocurrency when you heard all the fuss about Bitcoin (and no they’re not quite the same thing — technically…).

While there’s lots of noise, hype, and speculation out there, one thing’s for certain –

blockchain technology will disrupt retail as we know it: on- and offline.

But the most immediate impact we’re seeing is on customer acquisition, loyalty, and rewards.

We’re not just talking about big chain stores with the means to rollout new initiatives. With the right focus, technology, and intent, independent retailers can make the most of the opportunities the blockchain presents.

Here’s how it all fits together.

COLLABORATE (& LISTEN…)

Independent stores are not alone in the world. They’re part of a bigger community — a community of customers and other retailers. When united by a common cause, independent businesses can create more value, attract more customers, and offer more meaningful rewards. It all starts with community and collaboration.

DELIVER ON CX

In a digitally converged world, the customer experience — or CX — is far reaching. It can mean everything from the way companies handle customer data to the actual sale itself. Treating customers well means addressing their pain points — whether that involves streamlining the order process, allowing them to pay in Bitcoin, or creating a loyalty scheme.

REWARD YOUR ADVOCATES

A happy customer is a loyal customer. Loyal customers help their favourite coffee shops, restaurants and retailers build their reputation. But throw rewards into the mix and they become incentivised advocates. Rewards drive new business; as long as they offer customers something meaningful or useful.

CREATE BETTER VALUE

Giving customers rewards is about creating value for them. Using blockchain incentives like tokens and crypto coins in place of more conventional rewards or points empowers them — allowing them to choose how and where they put their loyalty to best use.

DECENTRALISE LOYALTY

As digital loyalty programmes become more popular, the greater the volume of customer data — which is under increased scrutiny. However, as blockchain technology is decentralised, it’s a great way of keeping data secure, accessible, as GDPR compliant.

EMBRACE THE FUTURE

Where data, money, and value are concerned, the blockchain is the Holy Grail. In the same way that both individuals and businesses used the internet to build awareness and drive interaction, the blockchain will transform how we trust and transact; making it more secure, honest, and open. And, when you think about it, shopping at independent stores can become a way for people to earn money — not just spend it!

About Jemjar

At Jemjar, we want to build a community of forward-thinking independent retailers; ready to come together and take customer service, loyalty, and rewards to the next level.

To find out more, or to get started, email info@jemjar.com and we’ll be happy to help.

Customer Rewards: Reloaded