SLP Network is a decentralised platform based on the blockchain technology. Its purpose is to provide clean, secure and reliable support for loyalty programs. The platform’s target to fix the problems existing in the current methods of loyalty program operations and processing, giving the programs a more engaging and rewarding experience for both businesses and customers.
SLP will build an infrastructure which businesses can use to process, issue and of course, use tokenised loyalty points on a shared blockchain platform. This will enable users to exchange bonus points using SLP tokens: the platforms currency, and to spend the bonus points they've earned on rewards and products that matter to them personally. The result consists of brand loyalty experiences that are more efficient, interactive and engaging.
You must have a question on your mind, and it may sound something like this: How can organisations utilise specific loyalty points as a fish hook to reel in customers based on adding value rather than reducing costs or discounts? We’re more than happy to answer that for you.
One of the most common and classic ways to reel in customers to buy your products or use your services within a specific period-of-time is to offer the customer some discount. These discounts come in different forms which can include both 50% off and buy one get one free. However, the problem with these types of offers is that they typically cut into your bottom line, can devalue your brand, and are generic across the board. In the past, when there was less information available on your customer, these types of offers made sense. However, customer trends and the ability to interact with your customers has changed the game.
Now with the SLP Platform not only will you have the ability to understand your customer base, but you can take action to bring extra value to your customer rather than offer a generic discount. For example, you can provide a unique loyalty point that customers can exchange SLP tokens for that offer an exclusive benefit to your customer base. If the common loyalty point a customer receives from making a purchase allows them to win a free night at your hotel chain, you can now offer on the SLP platform points that customers can utilise to obtain both a free night at the hotel chain plus a free one hour massage. Now customers who have built up points via a competitive hotel chain, and didn’t initially plan on trading points they’ve earned from that business, have an additional reason to do so.
By using SLP you’ll be able a/b test incentives without having to adjust your entire program, and create a sense of limited availability to help call your customers to action, and reel them in.
If you wish to find out more about the platform, how it works, the steps it took to get this far or if you are merely curious, you can learn a lot more by visiting their: Website, Telegram, Facebook and Twitter.
