Airdrop into loyal customers
The purpose of a business is to create customers that create customers. — Shiv Singh
For every loyal customer there are hundreds, if not thousands, that a company fails to connect with in a meaningful way. Product marketeers continue to evolve their customer retention strategies with interesting loyalty programs to improve the quality of engagement. As consumers many of us participate in such loyalty programs with an expectation of earning meaningful rewards. The human mind is conditioned to seek rewards and repeat behaviors that stimulate the reward seeking mechanism wired into our brains.
From airline miles to free sandwiches, loyalty programs gently influence our decision making in choosing how we spend our most valuable resources — time and money. At it’s core a loyalty program is a game where progression is rewarded with social status. Most of us are content with the simple recognition of our progression in an artificially created hierarchy of status points which can be redeemed at some later date. The value equation in loyalty programs is often heavily tilted in favor of the company as customers leave unclaimed rewards indefinitely.
What if there was a way for companies to truly share the monetary value of a customer’s loyal behavior with their customers?
Blockchain and Distributed Ledger Technologies (DLT) have ushered in a revolution that has turned the traditional loyalty program on it’s head. Loyalty programs can now reward customers with their specialized loyalty tokens which can be traded on an open market. Public crypto exchanges such as Bittrex, Poloniex, Upbit provide a platform for such tokens to change hands and value.
At Kava we developed a loyalty token called KAVA Coin to reward our players of CasinoLife Poker to engage with our game. Players earn KAVA Coins for actions such as inviting friends and leveling up in the game.
We recently launched an Airdrop campaign to promote our game and the loyalty program for our players. Airdrop campaigns (“Airdrops”) are an innovative emerging trend where companies distribute their crypto tokens as incentives to build their communities and awareness of their products. These tokens give customers access to exclusive premium content creating a differentiated customer engagement opportunity.
Kava’s Airdrop campaign launched on May 15th, 2018 to galvanize the community of players and participants to refer their friends who earn KAVA Coins when they invite their friends and play CasinoLife Poker. The game is available on Apple, Google and Facebook and features an in-game crypto wallet where players can view their KAVA Coin rewards activity. Players that meet certain regulatory and game criteria can unlock their wallets and transfer their KAVA Coins out of the game to their private wallets or exchange accounts. KAVA Coins are listed on Stellarport and Stellarterm exchanges with more exchanges to be announced in the near future. Players who wish to own more KAVA Coins can purchase them from other players on these exchanges and bring them in-game through their wallets to access premium content.
Kava’s novel approach to building customer loyalty is already off to a great start with the virality of the campaign is taking effect. For the first time in the history of video games, players will not only earn rewards for their engagement in the game but also have an opportunity to trade their rewards in a decentralized and transparent way across the cryptoverse.
