The market today is known to be static and it requires advancement and developments in almost all areas. The customers are not getting enough in terms of quality and brands spend too much in creating awareness. This article focuses on some of the problems that are present in the market. They include;
A closed structure.
In the structure currently available in the market, there is a lock-in effect. Customers are tied to a brand or product. Most if not all of the existing loyalty programs have a closed structure. This poses so much of difficulty in many areas such as;
Inability to trade reward points elsewhere creating a limitation in the market structure and not allowing inter-trading with the same reward points which requires customers to open several reward points in end customers have a lot of problems in their hands in the form of loyalty programs.
Most times customer rights are not regarded.
Limited usage leads to customers neglecting a particular brand’s loyalty program thereby lowering its quality and possibly, an eventual close down.
The lack of differentiation and insufficient rewards
According to the records, in North America, about 36million dollars reward points expire every year. This shows how rapid the effectiveness of loyalty reward programs has declined over the years. This has left customers having second thoughts about the program with many on the brink of giving up and looking for a better option. Companies in same industry have uniform loyalty program such as stamp and coupon in café. This lowers differentiation and the rate of acquisition of the points is relatively low which leaves it impossible for use.
The loyalty programs lack sustainability.
Companies today are looking to gain instant result instead of the management of sustainable loyalty program due to the limitation of time and price of managing a loyalty program. This more than ever leads to the failure of the system and less investments are made on the brand’s loyalty product. This reduces the benefits of customers and thereby with no recommendation and reviews new customers are not attracted.
Brands are tied to platform
The existing loyalty programs are known to deploy a central server which is a structure for monopolising trade. The brands therefore, are tied to the platform most especially the micro-enterprise. This practice makes the structure vulnerable to hacking and external attack since it saves all the customers’ information in the central server.
The solution
The program designed to solve all the problems listed above is the smathium loyalty program. It is a program designed to fit the goal of the brands such as the brand designing rewards like discount coupon for their products. It comes with a smathium token (SMT) used in the smathium platform. The smathium platform is managed by the loyal factory forming its ecosystem and consist of the reward system. The block chain technology is applied and it manages all participants and modules in loyal factory with a decentralized server.
Conclusions.
Several problems are associated with the market today, which has turned the backs of quite a lot of customers away from loyalty reward points. The advent of smathium solution raises hope and builds a future for loyalty reward program.
TOKEN ECONOMY
Token symbol: SMT
TYPE: ERC20
Total shipping: 10 billion
SMT PreICO Price: 1 SMT = $ 0.003
Price in ICO: 0.0060 USD
Average price: 0.01 USD
ROI: 66.67%
Pre-ICO BONUS: 50% discount ICO as IEO: 10% discount
Tokens for sale: 4,000,000,000
This platform is decentralised in it's functions, it is so difficult for other to copy its Innovation because of the features it owns are very immutable and unique to the transactions they are used to perform. The SMA token therefore stands to be useful in this course but that will come after the dApps has been installed to be used in the activity. All the operations that will take place in the ecosystem will be sponsored by the SMA tokens and that currency will be relevant as long as the setup remains.
This platform makes anyone a part of the system real quick without holding back itself. This increases the chance of getting more people to benefit from it and also make users benefits so well from it. Now it will be capable of connecting users to retailers and making them have a good relationship with themselves and with the operations that holds them together.
Now as oppose to getting points as a reward like it is done in other loyalties, this platform allows the users to have their rewards in form of coins that can be any assets the customer chooses and as they do so it will be theirs.
CONCLUSION
This is truly what can increase the sphere of many companies and make them flourish without pursuing clients. The steps are already set to be followed once a retailer chooses Smathium. This is truly a great setup considering the features and tools it uses. This platform has created a global solution that will be adopted markets to see the result as it should be. Lesser cost is required to use and it is very reliable for its users to trust.
USEFUL LINKS;
Website: https://smathium.io/?lang=en
Whitepaper: https://drive.google.com/file/d/14AOnnmRhb74E1OQ0ggofj2ZlOcgIq3SH/view?usp=sharing
ANN: https://bitcointalk.org/index.php?topic=5129264.msg50507246#msg50507246
Telegram: https://t.me/smathiumofficial
Twitter: https://twitter.com/smathium
Facebook: https://www.facebook.com/smathium
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2037769