Boltt loyalty programs work similar to other existing loyalty programs, i.e. when a customer shops they earn loyalty points, but in Boltt loyalty programs, customers are rewarded with BolttCoins. The decentralized rewards management on blockchain makes the platform unique. It delivers value to all platform members, for the retailers — a premium, blockchain-based loyalty management system worth $200-$2000 per month is available free, for the customers — BolttCoins, which they can turn into real money or redeem for purchases across Boltt marketplace or partner network and they do not expire and tend to go up in price. Users can also take advantage of discounts and participate in fun contests and sweepstakes.
Both merchants and users can gain from participating in the Boltt economy. By accessing promotions & Loyalty programs on the platform, consumers pay reduced prices for goods and services. On the other hand, merchants may gain through increased demand for their products and reduced customer acquisition costs by using the platform’s marketing tools.
“Boltt Loyalty Platform” leverages the vast partner network & ecosystem to spearhead the next generation of customer loyalty, or the loyalty economy. This loyalty economy can change the current uninspired and value-deficient rewards points system to a value-focused, digital-based rewards system that will stand far above traditional rewards programs.
The first loyalty program that is to be implemented is a Cash Back (or more accurately, Token Back) loyalty program, this is one of the simplest form of programs to understand and consume for both merchants and customers.
A universal Loyalty Program
Boltt Tokens can be used for loyalty rewards by any retailer in the ecosystem in following ways.
· Within Boltt ecosystem — by getting listed as a merchant and configuring cash backs on products
· Third party applications — by using the Restful API and integrating wallet and marketplace in any app
· Customer flow — customer signs up, earns, spends, gets cash back etc.