Loyalty programs are a creative marketing technique designed to encourage clients to stay with the same company or seller and purchase the same goods and services repeatedly. Any average shopper nowadays has countless loyalty cards, loyalty points, reward tokens, club cards, etc. from a number of different retailers.
This kind of customer engagement had been extremely effective when it was first invented, but since almost everyone has tried to utilize it, the efficiency lowered significantly. Recent customer polls show that more than half of them don't even know how many points they have and how to spend them. The reason behind this is the people's oversaturation with loyalty programs, as well as misestimation of their true worth. It is just too cumbersome for most shoppers to try and figure out a dozen separate programs, that they ended up participating in.
With the invention of blockchain, and great improvements to the Internet of Things technology, a new type of loyalty system has become possible. Team Mozo has seen the wasted potential of modern loyalty programs first-hand, and decided to change it at the root, by enhancing their original project with cryptocurrency. Team Mozo is a development roster with a very high number of members, including separate core development, software, digital marketing and advisory teams, who all have stellar reputation and experience.
Mozo aims to considerably increase foot traffic to the shops that chose to take part in their platform, and they have developed a number of core elements in order to do so. These elements are the Mozo token, the Mozo wallet, the Retailer's App and the Offline-to-Online (020) system. Combined together, they create something larger than just a sum of parts, they create a novel and superior loyalty program, powered by the Token of Discovery.
Let's take a closer look at each component.
Mozo token is an Ethereum based ERC-20 standard cryptocurrency, that clients can receive by coming to the retail store in-person, purchasing an item or a service from the retailer, or just discovering product details through an application. The exact amount of tokens awarded for each action and the time-frame are configurable and predetermined by each merchant. Mozo tokens can be traded for fiat as a cashback, or used in a myriad more cost-effective ways, for example for discounts or bonuses to each purchase in any shop within the Mozo platform. This setup is infinitely more beneficial for the customers, than the loyalty programs that are often limited to one or a small number of retailers, and offer no real monetary value.
To make the system a lot less confusing for people who aren't familiar with cryptocurrencies, and aren't willing to waste their time learning the intricacies of each separate loyalty program, Mozo will provide everyone with a digital Ethereum wallet. Both merchants and their customers will have a dedicated smartphone application, with the help of which they can send and receive tokens via exchanges, airdrops, etc. All the functionality you might expect from a cryptocurrency wallet, but designed with ease-of-use and loyalty programs in mind.
Customers will be able to view the inventory of their favorite shops through the Mozo application, purchase online or arrange for pick-up. When a user running the application walks into the shop, it will be recognized by Internet of Things sensors in the building and offline mode will be engaged. That is when actions made on the app will truly mine the Mozo token, which will incentivize more foot traffic directly.
The Retailer application boasts additional features, it is an important tool in increasing the effectiveness of each business and provides a lot of crucial information to the owners. Being able to observe clients' buying patterns, favorite products, or favorite consultant will help to make consumer experience more personal than it has ever been possible before. The distribution of tokens to customer will be performed through smart tokens, to ensure complete transparency and security of transactions.
To ensure that the adoption of both these applications is sufficient from as soon as Mozo platform is launched, a number of tokens will be Air-dropped to anyone who downloads and installs them.
Mozo version 1.0 is not hypothetical, it is an already working product. It has functioned completely uninterrupted for a month in two retail stores in China, and according to the results, has contributed to almost a quarter of physical sales in that time-frame. All this team Mozo achieved without sufficient budget and their vision fully fleshed out. Judging by such incredible performance, by the time Mozo reaches its version 3.0, it will be a tremendous success. A significant stepping stone in the future will be the move of the platform from Ethereum to Solo, a new DAG type blockchain network that is designed by Mozo to support peer-to-peer micropayment transactions.
If you would like more technical information about the back-end technology that Mozo is based on, there is an abundance of detail in their official whitepaper. Everything is planned out in advance and with obvious insight into the retail market, the newest blockchain and software developments. Please check out the links below to get in touch with the developers for more insight, or participate in the tokensale to get your hands on Mozo tokens early. The tokensale will start on 23rd of July, so do not miss your chance.
What do you think about the combination of cryptocurrency and loyalty programs? Do you actively utilize any loyalty programs yourself? Tell me in the comments below.
Author's bitcointalk: OceanWind33