Bringing Momentum to Life
We are proud of our new Momentum platform. We believe it will reinvent marketing and turn how brands have traditionally approached it upside-down. It’s that rarest of beasts — something where all parties involved come out smiling.
On the one hand, the consumer is rewarded (with cryptocurrency) for their data, creation of content or introduction of new potential customers into a company’s ecosystem. And on the other, the marketer has opened up new and better opportunities to drive more revenue and they understand exactly what they are paying for to get this contribution.
But how can we bring this to life to show how Momentum could work in practice? This will hopefully do just that — meet Sophie.
Step one — Sophie is a known customer of (fictitious sports retailer) WholeSports. Sophie loves running and typically buys her running gear from WholeSports. WholeSports loves Sophie’s spending profile and would like to keep her as a customer, as well as maybe accessing some of her friends, who are also potentially runners.
To verify if Sophie is interested in this, WholeSports send her a message to ask her to join their reward scheme and save for discounts and incentives. A simple survey confirms Sophie is a runner who is particularly interested in long-distance running, and any other sports she likes.
Step two — WholeSports let Sophie know that she will be rewarded WholeSports Coins, the WholeSports reward currency, for introducing three of her running friends to WholeSports. Her friends, in turn, will receive a nice discount on their first purchase from WholeSports.
Step three — Sophie sends three of her friends a message, with the WholeSports promotion. Not being able to resist the offer and Sophie’s endorsement, all three download the WholeSports app and start browsing it.
Step four — now that WholeSports has three new users, it can learn more about them and start individual personalised conversations with each of them.
Sophie, in the meantime, is keen to use her newly acquired WholeSports Coins and put them towards a purchase. As Christmas is coming, WholeSports invite Sophie into one of their stores, for a free shoe-fitting and to hunt for a “Coin Christmas Gift box” using the Augmented Reality in-store functionality in the app.
Step five — Sophie, finding the gift box full of crypto based rewards is impressed by the experience, the choice and service in-store, buys the latest running shoes and is convinced by store staff to also invest in some new running gloves. She of course gets some WholeSports Coins as a ‘thank you’.
Step six — making sure that the newly acquired trainers are put to appropriate use, Sophie signs up to the WholeSports Running Rewards program, where users are encouraged to log their training efforts on Apps such as Strava, in exchange for WholeSports Coins.
Step seven — after a few weeks of training activity, the time is right for Sophie to share a review of her new running shoes and gloves on the WholeSports website. A message on her mobile phone kindly reminds her that she can earn some more coins if she is willing to share her experiences with fellow runners. As a regular runner, her opinion is highly valued, and she can earn twice the amount of coins compared to newbie users.
This is a simple scenario, but with some great outcomes for all parties:
• WholeSports was introduced to people in their target audience and acquired some new potential customers.
• Sophie confirmed she was indeed a runner, a long-distance runner to be precise, which gives WholeSports to opportunity to make any offers for her much more relevant. No more spam for Sophie!
Sophie has now come to store and understands the services in store much better, a great reason not to venture to any other sports retailers, as she trusts the service she receives from WholeSports. The same visit allowed WholeSports staff to get to know Sophie better and sell additional items to her and made more revenue compared to her shopping online.
Keeping Sophie active is not only good for her health, it also makes her enjoy the purchase she made and sees the value of her new shoes, whilst WholeSports gets further insights in how much she runs, where she runs, etc. Allowing them to share further, more relevant information with Sophie.
Sophie’s review on the website will help other potential buyers to make up their mind about their impending shoe purchase and helps to position WholeSports as a trustworthy source for product information and a credible supplier.
If you want to learn more about the Momentum platform, visit our website, https://MomentumToken.io, or talk to the team in our Telegram channel, https://t.me/MomentumToken.
