MobileBridge Momentum is a blockchain project that enables companies to reward users for their attention, their business, their loyalty, and for voluntary access to their data.
Momentum and its partners will reward consumers with tokens for sharing their personal data including location, browsing habits, and buying trends. Businesses will use this data to create targeted marketing efforts for these same consumers.
Ultimately Momentum rewards customers financially and also provides them only with useful promotions based on their own interests.
The foundation of Momentum is that users are rewarded with cryptocurrency for providing personal data and attention to businesses. Users will have full access and control over their data and will have the ability to provide brands with permission to use the data they've collected.
MobileBridge Momentum will be integrated into third-party apps, working in the background to create a more effective promotion and loyalty system.
This a SWOT business analysis of the project. For a full overview visit my previous article here.
MobileBridge Momentum has numerous strengths beginning with the fact that they are not building a new business from scratch. Momentum is part of MobileBridge AG, a fully operating off-chain project that is already creating targeted marketing campaigns.
MobileBridge targets customers at the moment they are most receptive to influence which is the split second when they first look at their phone. The team calls this the "Mobile Moment".
The ability to target the mobile moment has allowed MobileBridge AG to establish a client list that includes Burger King, Volkswagen China, Bilka, Galbani, and Praxis. Campaigns with these companies have been highly successful resulting in a 100x increase in app use and a 50% conversion rate on targeted promotions.
The team is taking these established strengths and integrating them into a full-fledged blockchain based loyalty system that includes custom branded tokens that can be spent, exchanged, or sold.
The main weakness of this project is that it must acquire partnerships while many of its large competitors have built-in customer bases. For example, the Marriott loyalty rewards program has a customer base of consumers that utilize their properties. They also have partnerships with rental car companies, credit cards, and airlines.
MobileBridge will have to market directly to businesses but will offer them more than just a loyalty program. The platform will allow businesses to create a custom branded token that can be used for goods and services, exchanged for other branded tokens, or converted to MMTM and traded on an exchange.
Although the way loyalty programs operate has been changing rapidly over the past few years research has shown that sign-ups are at an all-time high. To counter this, the active use of loyalty programs has declined 2% per year for the last 8 years.
This sounds like a threat but it is a great opportunity. These statistics show that consumers are interested in loyalty programs but their actual usage has obstacles. MobileBridge Momentum will utilize ultra-targeted marketing to help consumers use their rewards.
An oft-quoted stat shows that over 50% of loyalty rewards are never used which is terrible for the consumer and the business. If MobileBridge Momentum is able to help consumers use rather than store rewards they will be helping all stakeholders.
Think about having a reward for a free meal with the purchase of another meal. This consumer will likely visit the restaurant with a friend and purchase two meals (one for free) along with additional add-ons since they are saving money. In the end, the restaurant gains new customers and made profit on the meal.
The key to capitalizing on the opportunity is to capture the millennial audience. Members of this generation place a high value on personalized experiences. Their lives are also highly integrated with their phones.
Momentum has a chance with "Mobile Moment" targeting to connect with millennials and provide them with distinct, data-driven, personalized rewards that will motivate consumers to spend.
MobileBridge Momentum is facing threats from two directions. The first threat is that it relies heavily on adoption by customers and requires that they opt-in to data sharing. This threat is common to all data-driven blockchain projects.
Normally this would not be considered a threat but many consumers are becoming more aware of how their data is used due to the Facebook data breach. To counter this, many consumers also value curated experiences and better service and are willing to share non-sensitive data to acquire such things.
The second threat is from traditional loyalty programs as many of these programs have a built-in customer base and can offer very high-level rewards. MobileBridge will require strong partnerships to offer enticing rewards. MobileBridge also offers the ability to trade rewards among brands which is uncommon in traditional loyalty programs.
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*This post contains a project overview only not investment advice.