This month Phil highlights the scary statistics around the struggles blockchain loyalty companies are currently facing when running ICO’s, confirming that investors are no longer investing blindly in an idea.
Based on this, Phil gives three expert recommendations on how a blockchain loyalty company should position itself to increase their chances of running a successful ICO.
- TEAM – have a solid team with strong loyalty credentials
- PRODUCT – have a working prototype or MVP available to demonstrate to investors
- MARKET – show where and how engaged members will be onboarded
Phil predicts the first company to succeed will be an existing program with an established merchants and member base who are already operating at scale.
Philip Shelper is a loyalty management 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. Buy the book.
www.blockchainloyalty.io is a global resource centre for everything blockchain loyalty.