Customer loyalty and engagement can make or break companies, and as such, rewards programs represent strategic investments for all types of organizations. But as they have been growing rapidly, they are also still ailing due to inefficiencies. There are several reasons for this, but first and foremost is we believe the paucity of uniform management systems is a primary source of members’ lack of activity.
This installment of the Deloitte Center for Financial Services series on blockchain, explores how this powerful technology can help realize the full value of customer loyalty programs. Any organization (from banks to airlines) that have rewards programs can take note of the gained efficiencies, reduced costs, and enhanced brand loyalty that this powerful technology can provide.