Blockchain will significantly improve loyalty programme management
Read Collinson’s latest whitepaper ‘Opportunities for blockchain in loyalty’ to find out how.
Blockchain technology has developed over the past decade to become one of the most disruptive technologies with the potential to impact every business discipline – including loyalty.
Our latest whitepaper, ‘Opportunities for blockchain in loyalty’, assesses the most common applications of blockchain in loyalty today and the many challenges and considerations that arise from these use cases.
Given the challenges facing blockchain, should loyalty experts ignore blockchain? We think not. At Collinson, we believe that there is always room for innovation and blockchain technology unlocks new possibilities not to be missed.
Many of today’s loyalty programmes use a rich and active partner ecosystem to meet the growing expectations of their customers who want personalised, instant and memorable experiences. It is in this partner ecosystem where we believe blockchain can truly shine for loyalty and we have developed an innovative concept rooted in this view.
With this new ecosystem design we aim to ease some of the most onerous and costly functions of a typical loyalty programme and open new commercial opportunities by addressing four key challenges:
- Manual, invoice-based financial settlements
- Slow and expensive partner setup
- Limited data exchange with partners
- Incomplete tracking of miles/points
We believe that improvements in these areas utilising blockchain-based technologies will drive significant value for programme owners, partners and customers alike.