CIOAdvisor Apac

  • Home
  • Vendors
  • News
  • Conference
  • Whitepapers
  • Newsletter
  • Subscribe
  • About Us
  • Specials

  • Menu
      • Ad Management
      • Application Security Testing
      • Artificial Intelligence
      • BPO
      • Contact Center
      • Data Analytics
      • Deep Learning
      • Digital Marketing
      • Digital Transformation
      • Disaster Recovery Services
      • Disinfection and Sanitization
      • E-Invoicing
      • Ecommerce
      • Govt Tech
      • HubSpot
      • Human Resource
      • ICT
      • IoT
      • Laser and Photonics
      • Leadership Development
      • Logistics
      • Machine Learning
      • Marketing Technology
      • Mobile Application
      • Parking Management
      • Payment And Card
      • SDN
      • Telecom
  • Digital Transformation
  • Logistics
  • IoT
  • Payment And Card
  • Artificial Intelligence
Specials
  • Specials

  • Ad Management
  • Application Security Testing
  • Artificial Intelligence
  • BPO
  • Contact Center
  • Data Analytics
  • Deep Learning
  • Digital Marketing
  • Digital Transformation
  • Disaster Recovery Services
  • Disinfection and Sanitization
  • E-Invoicing
  • Ecommerce
  • Govt Tech
  • HubSpot
  • Human Resource
  • ICT
  • IoT
  • Laser and Photonics
  • Leadership Development
  • Logistics
  • Machine Learning
  • Marketing Technology
  • Mobile Application
  • Parking Management
  • Payment And Card
  • SDN
  • Telecom
×
#

CIO Advisor APAC Weekly Brief

Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from CIO Advisor APAC

Subscribe

loading
  • Home
  • News
Editor's Pick (1 - 4 of 8)
left
How Cloud Migration Fueled Digital Transformation and Global Growth for ACI Specialty Benefits

Ryan Fay, Global CIO, ACI Specialty Benefits

Configuration Management Technology and Its Use in Information Technology Management Operations

Kelly Summers, CHCIO, SVP & CIO, Maricopa Integrated Health System

The Advent of Crypto

Grant Brett, CIO, Forex Club

Supporting Business with the Right Technology

Andy Jurczyk, CIO, Seyfarth Shaw LLP

A Closer Look at Block Chain Technology

John Shea, CIO, Eaton Vance

Why are enterprise blockchain solutions not widely adopted yet?

Mariana Gómez de la Villa, Program Director Distributed Ledger Technology, ING

Blockchain: The answer to solve the perennial issues in the Telecom Industry

Neeti Virmani, Venture Partner, Loyal VC

Tug-of-War: Will Blockchain Bring Data Ownership Back to Users?

Nicole Nguyen, Head of APAC, Infinity Blockchain Ventures

right

THANK YOU FOR SUBSCRIBING

Leveraging Blockchain to Gain Customer Loyalty

CIOAdvisor Apac | Monday, March 18, 2019
Tweet

Blockchain TechnologyThe loyalty of customers is essential for business growth. The attraction and retention of customers place companies at the top of their markets, as customers ultimately buy their products instead of competitors. With a loyal customer base, regardless of the size of the company, enterprises can increase visibility and sales.

Companies can use several ways to attract consumers, such as offering better prices or connecting with customers via social media. Consumers buy more attractive products elsewhere if they have no personal connection with a specific brand. Harvard Business School states that a five percent increase in customer retention rate can increase profits by 25 to 95 percent. Redemptions can be made in real time over the decentralized system of the blockchain, eliminating long delays as transactions are conducted through clearinghouses or multiple systems. Partners can set individual value and reward points parameters so that consumers are not required to calculate reward-point ratios from program to program. The potential outcome for consumers and providers is a simpler, more transparent redemption path. The ability to manage a large customer base while keeping the token count of each customer perfectly tracked without the need for a central governing entity is an important step in this industry which sees $360 billion in points go unredeemed annually—a major step up.

Check Out : Top Blockchain Technology Solution Companies

In addition to decentralization and easy tracking, the ability to exchange and redeem tokens of values, such as frequent flyer miles or phone minutes, is another major advantage of the blockchain. Although this skill is widely used on cryptocurrency platforms like Ripple and Stellar, it is also used in other industries. Blockchain could help to alleviate the large balance sheet liability faced by many in the industry. Loyalty programs rely on co-branded cards and partnerships for a long time to sell points and generate incremental income.

Many small and medium-sized businesses do not have the resources to develop their own blockchain networks. At the moment, few companies have started to offer services that manage the infrastructure and allow these companies to establish their own blockchain loyalty programmes. As more and more companies look at blockchain today, these solutions seem to be the major factor that helps gain more customer loyalty.

Check out: Top Loyalty Management Solution Companies

Featured Vendors

  • MVI Technologies: Innovative, Future-proof Financial and Payment Switching
    MVI Technologies: Innovative, Future-proof Financial and Payment Switching
  • DATAMARK: Process Driven Solutions in Action
    DATAMARK: Process Driven Solutions in Action
  • IMACREA: Shaping the Future of Teleworking
    IMACREA: Shaping the Future of Teleworking
  • PuzzleBox BPO, Inc.: A Hybrid Platform for Customer Support and Sales Empowerment
    PuzzleBox BPO, Inc.: A Hybrid Platform for Customer Support and Sales Empowerment
ON THE DECK

Read Also

Safeguarding Quality through Proactive Risk Management

Cultivating a Culture of Agility: Nurturing Adaptability for Organizational Success

Governance for Smarter KPIs: Enhancing Performance Measurement

Embracing the Irreplaceable Human in Business and Beyond

Leveraging Gamification for Deeper Financial Engagement

Generative AI: The Game-Changer Automates Marketing For The Retail Industry

Loading...

I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

Copyright © 2025 CIO Advisorapac. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy |  Sitemap

follow on linkedinfollow on twitter
This content is copyright protected

However, if you would like to share the information in this article, you may use the link below:

https://www.cioadvisorapac.com/news/leveraging-blockchain-to-gain-customer-loyalty-nwid-1440.html