New blockchain loyalty play Koin Rewards is set to disrupt the UK loyalty industry.
Koin Rewards will launch in the UK in late 2018, with a number of retailers already signed to participate in the program. The seed funding round for Koin Rewards is currently being wrapped up, with a major high-profile UK investor confirmed and soon to be announced.
At the conclusion of the seed funding round a private Initial Koin Offering (IKO) round will commence, followed by pre-IKO and main-IKO rounds.
Koin Rewards seeks to address three key issues with modern loyalty program approaches:
- Disillusioned Members: Market research indicates mass disengagement from major programs because members don’t receive enough value to engender brand loyalty.
- Marketing & Promotion Assault: A poor member experience is exacerbated by constant promotional bombardment.
- Saturation & Homogenisation: Proliferation of loyalty programs with similar designs are blending into irrelevance for all but the most dedicated shopper.
Koin Rewards will address these issues with a disruptive blockchain loyalty program which rewards members with a cryptotoken, Koins, instead of points. Koin Rewards will deliver:
- Genuine Value: A currency which increases in value the more popular it becomes, driving deep member engagement.
- Differentiation: A first-of-its-kind program guaranteed to stand out from the noise and generate significant hype and consumer interest.
- Permission Marketing: A program which rewards members for their attention from the brands they love and is GDPR compliant.
The UK market is ripe for a loyalty shake-up, with Nectar recently being sold by AIMIA to Sainsbury’s for a fraction of the cost they paid for it, and Tesco just starting to see a turnaround after several years of struggle.
Visit www.koinrewards.io for details
Follow Koin Rewards on LinkedIn: https://www.linkedin.com/company/koin/
Philip Shelper is a specialist loyalty consultant based in Sydney, Australia who obsesses about everything to do with loyalty and rewards. His company Loyalty & Reward Co are a leading loyalty consulting firm.
Phil is the author of “Blockchain Loyalty: Disrupting loyalty and reinventing marketing using cryptocurrencies.”
www.blockchainloyalty.io is a global resource centre for everything blockchain loyalty.
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