Loyalty programs
The world of Loyalty Experiences is part and parcel of consumer applications in web2 and web3. HOwever, the traditional experience has slowly deteriorated given a host of inefficiencies. How could we enable user’s to not only experience their accustomed rewards, but build open their ability to control their consumer reputation and opportunities?
State of Loyalty Programs Today
Many loyalty programs offer a one-size-fits all rewards mechanism. Typically offering basic “$5 off” coupons for users who spend 100s of dollars and countless minutes browsing and spending. These generic coupons lack tailored experiences and do not offer consumers the personalized marketing engagements they seek in 2024 and beyond.
Not too mention, data privacy remains top of mind for consumers. Customers are increasingly worried about sharing personal information as data breaches and bad data practices come to light. If only organizations could not just talk about data security, but actually give users a way to become part of that journey to share their data in a safe and private manner.
Lastly the inconvenience of loyalty programs when it comes to integrating across a consumers shopping experience is quite detrimental. Most shoppers today are spending time online, manually comparing deals. If the data was not siloed and forcing users into confusing workflows to redeem their rewards, we could capitalize on stronger user journeys.
Building With Gateway: The Coffee Shop
Let’s start off with a coffee shop chain “The Morning Guys” that integrates Gateway’s system for its loyalty program. As part of Morning Guys growth strategy, they have created a mobile app for users to track their purchases and loyalty. Using Gateway they automatically issue Personal Data Assets (PDAs) to their customers based on their history. Let us call this “Morning Guys Loyalty Pass”.
This datamodel includes trips made, amount of money spent, points accumulated, and tier. In turn the user is able to take these data assets and share it on “The Morning Guys Marketplace”. This is a unique experience where other business partners and conumer products can request the user’s Morning Guys Loyalty Pass. In return the user will get discounts, personalized rewards, custom shopping experiences and more externally to the Morning Guys’ ecosystem.
Create your Loyaly Pass and Empower Users
Join our friends at Jumper Exchange (LI.FI product) and create your own loyalty pass. Drive more tailored experiences for your users, custom rewards, and exclusive event access. Gateway makes it possible for such personalized engagements to be accessible from your mobile/consumer application.
Users are able to take control of their journey across the consumer world. They can share data without comprising their data or having their privacy infringed upon constantly without consent. The future of marketplaces not only belong to businesses, but the users who drive value for businesses on a daily basis.