The Starbucks Reward Loyalty Program has around 28 million active members with a consistent growth YOY. So, why is Starbucks turning to blockchain technology to revamp its successful rewards program ? To keep consumers engaged by building innovation around the core theme of their relationship with customers.
Innovating in Loyalty Programs:
1. Creating a multi-brand ecosystem to enhance the value proposition for consumers, extending beyond just coffee. (Partner with Delta Airlines)
2. Implementing a decentralized loyalty program for faster and simpler integration of partnerships.
3. Offering gamified experiences to connect with Generation Z.
4. Establishing a matrixed and decentralized model to provide personalized experiences.
5. Providing interchangeable benefits, giving consumers ownership of their points.(
6. Deepening consumer understanding, not in isolation, but by complementing their interests with ecosystem data.
7. Strengthening the "multi-brand benefits" system and audience integration for model scalability.
Want to know more? Watch Fede Garcia's masterclass https://lnkd.in/dSRds9-f
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