Why did Bob Choose ALLOY?

According to Market & Market’s “The Loyalty Report 2017”, the average number of membership programs enrolled by a user has grown 31% over the last four years to 14.3 from 9.8. Out of the 14.3 enrolled, only 6.7 memberships are kept active, this active number hasn’t changed since 2012.

Bob and his Unredeemed Reward Points

Let us assume a consumer named Bob has subscribed to 7 membership programs and he seems to be active in only 3 of them.

He is not brand specific, but looks for an option that would be helpful during his course of purchase. Here are a few reasons that make his reward points sleep in his account.

1. Limited Rewards Catalog

Eg: Bob has XX points in one of his membership programs. But, he can’t choose a reward of his choice or preference. Hence one of his membership program stays dormant.

Guess what COLLOQUY (The go to source for Global Loyalty Insights) has found?

The COLLOQUY report clearly states that 53% of the consumers weren’t interested in the type of Rewards offered.

2. Unknown Value of Reward points and Balance

Eg: Even when Bob thinks of using his Reward points while making a purchase, he is unaware of his Reward points; neither the value nor the balance. Poor Bob. This is one of the reasons for Rewards points going unredeemed.

Guess what Market & Market’s “The Loyalty Report 2017” has stated?

According to Market & Market’s “The Loyalty Report 2017”, 57% of the surveyed consumers didn’t know their point balance and 38% among them are unaware of the value of their points.

3. Long process

Eg: Bob, who runs round the clock, does not want to redeem his reward points, as he finds earning his share of reward point is time consuming.

Guess what COLLOQUY Report has Cited?

COLLOQUY report explains that close to 57% of consumers in a Reward program feel that it takes too long to earn a point or a mile

Note: Surprisingly, it is not just Bob who finds it difficult to redeem his reward points. According to Collision Latitude , nearly 50% of reward points go unredeemed due to the above reasons.

4. Locked and Thinly Distributed points

Bob can only do so much at any given point, but since his activities are with different businesses for different needs, all his points are divided & locked up between the businesses. With $1 locked up with each of 10 businesses he shops with, he can do nothing meaningful with the points.

If only there was a way for Bob to combine them in $10 ,....?

Hence, Bob Chooses ALLOY!

ALLOY

ALLOY is an app powered by Global Rewards Network based on Blockchain and Cryptocurrency. ALLOY connects Brands, Game & App Publishers and Consumers on a single platform and allows consumers to make purchase pertaining to their interest by helping them combine reward points of their various membership programs.

Eg: Bob downloads ALLOY and links all his membership program accounts. On linking, he gets to see the combined Reward points in local currency. He is super excited to see a list of Products & services that he can purchase.

Now, wherever Bob goes, he can simply open ALLOY, check out for the nearby merchants and make a purchase of his choice by showing a QR code without any hassle.

Result

With ALLOY, Bob is happy Earning & Redeeming points.

Codemojo: Building A Global Rewards Catalog With Blockchain

Codemojo is a Customer Engagement company in operation since 2015 with global customers including marquee clients like SkyScanner, OYO, BigBasket India. It is supported by Paypal Incubator, Reliance (Fortune 500 Company) GenNext Hub Accelerator & Microsoft Accelerator. Currently, Codemojo runs the World's first Rewards Network that unlocks user engagement, acquisition and retention, through constant and instant rewarding. As of now, the platform connects 100+ Brands and 1,000+ publishers (Apps & Websites) on a single platform engaging & rewarding Millions of users across the globe.

Codemojo also offers separate customer engagement components such as Referral, Loyalty, Gamification & Transaction Wallet that can be easily integrated with Businesses of all sizes, across the globe.