Travel, retail, financial, and other economic sectors have implemented loyalty programs to retain their customers. As a result, there is a labyrinth of point systems and redemption options everywhere, with a complex process for exchanging points between program partners.

Having customer loyalty programs to maintain loyal customers are no not something new . But the new trend has emerged; blockchain based loyalty program.

Some of the most successful, popular, and iconic brands in the last few decades generally are built on compelling and sophisticated loyalty endeavors. They have successfully retained loyal customers as well as acquired lots of new ones.

"Can I have Aqua, please"

When buying an item, we often tend to mention the brand name rather than the type of item. For example, in the context of Indonesian consumers, when buying mineral water, Indonesians are used to saying "Aqua" instead of mineral water, even though, in reality, they are looking for another brand for mineral water. 

This situation is an example of success of a brand that has dominated the "Top of Mind" of consumers. 

Customer loyalty programs have become common practice these days. But, not all loyalty programs have successfully achieve their KPIs because as today's consumers are unique and require better approach to retain them through a loyalty program.

An exciting finding of loyalty programs shows that the average consumer is enrolled in 15 loyalty programs, but only active in half of them.

Why?

It is critical for any company to cultivate brand loyalty among their channel partners (distributors and all kind of resellers). Loyal channel partners are not only your source of recurring revenue, but also serve as brand advocates, speak highly about your brand that create positive word of mouth marketing to the end customers.

FMCG brands have always sought ways to engage directly with their customers, but their ability to do so has been severely limited in the absence of point-of-sale (POS) systems.

Because of the lack of direct customer relationships, FMCGs must rely on retailers to reach their customers and obtain specific data and information about their customers' buying pattern.

Have you ever experienced this?