In this article, we will explore the importance, benefits and relevance of Web3 loyalty programs. Find out more, and get the info you need to start with Web3.
Table of contents
☑️Web2 vs Web3 - What’s the Difference?
☑️Web2 vs Web3 Benefits for Loyalty Programs
☑️Web3 Loyalty Loop
☑️Data Analysis in Web3 Loyalty Programs
☑️Crowny's Web3 Loyalty Programs
☑️How Crowny's Platform Works
☑️How to Create Successful Web3 Loyalty Programs
Web2 vs Web3 - What’s the Difference?
Web2 is the internet that most people use today, where we mostly consume content created by others and interact with each other through centralized platforms. Web3 is the next version of the internet that aims to give more control and ownership to communities, allowing them to create and own their content and data.
VC investments in Web3 exceeded $18 billion in the first half of 2022 - McKinsey
Web2 vs Web3 Benefits for Loyalty Programs
Web3 loyalty programs are designed to offer incentives for engaged customers to keep returning to a particular brand or company, while also providing a platform for building a loyal online community. Web3 loyalty programs offer several benefits over web2 loyalty programs, including:
Web3 technology allows for greater transparency in loyalty programs. All transactions are recorded on a blockchain, which makes it easy for community members to track their points and other blockchain-based rewards. This can help build trust with loyal customers, as they know exactly what they are earning and what they can redeem.
Web3 loyalty programs are more secure than web2 programs, as they use blockchain technology to store customer data. This means that community insights are decentralized and cannot be easily hacked or altered.
Web3 loyalty programs are more flexible than web2 programs. They allow for the creation of custom tokens, which can be used to reward engaging program members for specific actions. This can include anything from making a purchase to leaving a product review, allowing businesses to unlock full community marketing potential.
Web3 loyalty programs are interoperable, meaning that they can be integrated with other blockchain-based applications. This allows online communities to use their loyalty rewards across multiple platforms and services, creating a seamless omnichannel experience.
Overall, web3 loyalty programs have the potential to offer more excellent value to customers and businesses alike.
Web3 Loyalty Loop
The consumer loyalty loop is a model that generally describes the customer's journey through five stages: awareness, consideration, conversion, retention and loyalty. The model emphasizes the importance of building relationships with customers, as it leads to better retention and increased revenue. You can read all the details in our blog about developing a sustainable business model with the loyalty loop. In Web3 loyalty programs, the same model can be applied, with the added benefit of blockchain technology.
Just like rewards programs in web0, web1, and web2, the technology will be in the background working its magic. It will become a part of our everyday lives, unnoticeable and non-disruptive if integrated seamlessly - Moonpay
Data Analysis in Web3 Loyalty Programs
Data analysis is crucial for the success of Web3 loyalty programs. By analyzing customer data, brands can gain insights into customer behavior and preferences, which can be used to create personalized rewards. This not only helps to increase engagement through relevant content but also strengthens the relationship between the brand and its customers. It’s one of the newest methods in relationship marketing and is expected to grow in popularity over time. Blockchain technology provides a secure and transparent system that allows for the safe exchange of data between brands and customers, especially in the age of zero-party data.
Crowny's Web3 Loyalty Programs
Crowny offers a loyalty program software solution that allows online marketers to create their rewards program and launch content campaigns for their online communities. Crowny's platform works by incentivizing users to perform specific actions, such as following a brand's social media accounts or completing a survey. They’re using their unique interact-to-earn model to guarantee results for both users and businesses. The goal is to ensure app users of the mobile-first loyalty solution end up in the loyalty loop of the client, resulting in a win-win situation for both the brand and the customer. Crowny's solution is designed to maximize customer retention and increase revenue through effective app marketing.
How Crowny's Platform Works
Crowny offers a platform that can help online marketers to create their own Web3 loyalty programs and launch content campaigns to increase user engagement. The campaigns are designed to incentivize users to perform specific actions and can be customized to fit a particular brand or company's needs, and ultimately improve the customer lifetime value of each member. Everything can be tailored to the preferences of the target audience. The platform is designed to be user-friendly and intuitive, allowing marketers to easily create custom loyalty programs that cater to their specific needs.
Crowny's goal is to ensure that app users end up in the loyalty loop of the client. This is achieved by facilitating rewards that are personalized and relevant to the individual user's needs and preferences. By analyzing data on user behavior, businesses that use Crowny can create rewards that are tailored to the user's interests and behavior. Businesses can also choose to offer deals tailored to the user insights, this way they can offer a personalized post-purchase upsell.
60% of CIOs plan to integrate blockchain into their infrastructure by the end of 2022 - Techjury
How to Create Successful Web3 Loyalty Programs
Web3 loyalty programs will become an important aspect for online marketers to engage with their customers and build long-term relationships. With the help of Web3 technologies like blockchain and tokenization, loyalty programs can be redesigned to overcome the limitations of traditional loyalty programs and offer more personalized and rewarding experiences to users. With Crowny, marketers can build successful loyalty programs that drive engagement and increase revenue.
So why not take advantage of this exciting new trend and start building your own Web3 loyalty program today? Get early access here.