Engaging with rewards
Loyalty programs have long been a holy grail for marketers. It has been shown that customers using a loyalty program are 60% more likely to return and utilize that retailer. Enormous opportunity is available to retailers who engage with blockchain on rewards programs since coin is able to be dispersed and used across multiple avenues and with multiple redemption points.
By rewarding customers with cryptocurrency retailers can offer consumers a benefit with high utility. Coins can be transferred throughout the ecosystem and put to use in new and interesting ways. These coins inevitably strengthen the entire ecosystem, which spurs innovation and opportunity.
With the size of the pet industry a staggering $232b USD, having a loyalty program run on a blockchain that consumers know supports the animals they love creates a positive feedback look. This would be a compelling opportunity for pet companies to provide a philanthropic-based loyalty program whilst driving increase customer engagement.
Meowcoin can provide the framework which a global pet retail loyalty scheme could be based.