Most of the people reading this post have probably experienced some sort of loyalty program in every major industry, such as earning air miles, hotel reward points, or other membership programs. Countless millions of customers have benefited from these programs for decades.
Loyalty reward programs are a massive industry that is characterized by a myriad of different programs each with its own system for earning, redeeming, and exchanging their unique points.
The 2017 Colloquy Loyalty Census Report found that membership in loyalty programs grew by about 15 percent between 2015 and 2017. However it’s worthy to note that the growth rate recorded in 2015 was 26 percent, showing that the growth in membership signups is slowing down. There are plenty of reasons causing to that decrease but the main one is consumers finding loyalty points less valuable.
Today’s loyalty programs are centralized and designed to favor the issuing company, not the consumer. If you read the Terms of Service for the points program of any large company you will see an almost limitless number of caveats, get outs, and flexibility that the company has over your points. These issuing companies can devalue, retire, reduce the number of ways you can redeem the points in almost every case.
Given the current state of loyalty programs, it is imperative for brands to create better unique loyalty schemes in a far more customer-centric manner. Fortunately this is now possible with blockchain tokens – the future of loyalty programs.
With blockchain tokens, there’s a key principle: You earned it, you own it.
Once someone owns a blockchain token, it is theirs, and it can never be taken away from them. The issuing company cannot expire them nor revoke them. Even if the company were to change the redemption value of your token or even end the program altogether, you still have ownership of the value of your token, and you can always redeem the tokens for that value.
With blockchain tokens, you decide how it is used.
Most loyalty programs have very limited value or practical usage. The issuing company only allows customers to use their accumulated points within its business. In contrast, there is always an added benefit to blockchain tokens with real world value.
Users are able to not only convert them to other crypto-currencies, but also to fiat currencies such as USD or Euro. In economic terms, this is referred to as the liquidity of an asset. The more liquid an asset, the more valuable it is to people.
With blockchain tokens, transparency is clear.
Another benefit is that the total issuance of blockchain tokens is on a public blockchain, therefore anyone can see how many are outstanding at any point in time, and there is full transparency into the program and its history. Likewise, customers can have full, open, transparent access to the entire transaction history. This benefit consolidates one of the most crucial aspects in business: TRUST which is naturally present as the rules cannot be unilaterally changed.
It is indisputable that the blockchain revolution is disrupting multiple industries with the customer loyalty market being one of those. Not all companies will like the benefits of blockchain tokens, but Smart businesses will embrace it because their customers will love it. Blockchain tokens will continue to grow, revolutionizing the future of loyalty programs.
With successful systematic growth since its launch in 2017, Travala is changing the future of the travel industry as a Next-Gen Online Travel Agency, providing a revolutionary, easy to use booking platform combining decentralised technologies and tokenized incentive structures.
Leveraging global competitive cost advantages, the platform changes the relationship between the consumer of the future and their travel shopping using tokenization to increase incentivisation and encourage growth in the ecosystem. Travala represents an emphatic advance towards more mainstream adoption and growth of blockchain.
Travala enters 2019 looking to sustain momentum while distinguishing itself from competitors, ultimately becoming the center of discussions both inside the blockchain industry and in the wider travel landscape.
Innovative SMART discounts and loyalty
We are developing our SMART discount and loyalty rewards program that will give you up to 10% discounts and loyalty rewards on top of our already excellent prices. This program is powered by our own AVA token and will be live and operational on Travala.com in the very near future where you can enjoy the best accommodations much cheaper than any mainstream booking sites.
Where can i buy AVA tokens?
Switcheo Exchange (Buy AVA using NEO)
Kucoin Exchange (Buy AVA using BTC or ETH)
Coinall Exchange (Buy AVA using BTC, ETH or USDT)