At Currency Alliance, we have developed a universal loyalty currency called comcoin. We believe it has the potential to revolutionize the industry. Below are the top 10 reasons why it needs to be part of your loyalty strategy.

It can be used everywhere

In recent years there has been a decline in the take-up of loyalty programs and an increase in customer frustration. Partly, this frustration comes from the fragmentation of different loyalty programs and the fact that customers need to have incompatible accounts across merchants. With comcoin as the primary, or a secondary loyalty currency, consumers can use the same loyalty account wherever they shop. Goodbye frustration.

Customer profiling key to a successful loyalty strategy

With a more useful loyalty currency that can be earned across different brands, data capture from many places the customer shops helps build a much richer customer profile that each partner can use to personalize engagement. This is crucial for a rounded loyalty strategy.

It’s more affordable

One of the main benefits of the comcoin model is that there are no big program set up costs. You only pay for the comcoins issued and personalized marketing messages/offers sent to customers.

It attracts the missing 80%

Most consumers don’t participate in loyalty programs as their purchase frequency is too low to earn meaningful rewards. This is a lot of data that you’re missing out on. And data is crucial to personalize offers and engage with customers. Comcoin is powerful as part of a loyalty strategy as it appeals to both regular and less frequent customers.

It demonstrates that you care

The last few years have seen a shift in the balance of power between customers and brands. At the same time, technology and social media have made people more accustomed to both personalization and high levels of choice. This is something customers currently don’t find with loyalty programs. By putting the customer first, giving them a wide variety of choice and making it easier for them to reach interesting rewards, they will reward you in the long-run.

The customer gets 100%

Most other loyalty programs take 30% to 50% of the value paid for the loyalty currency, so the customer’s redemption value is cut nearly in half. With comcoin, the customer gets 100%. This means their balances add up quickly, they are able to redeem more often, engagement increases, and they return to your store more regularly.

The power of personalization

Personalization and relevance are now basic expectations of the consumer. Sadly, it’s often absent from loyalty programs. Comcoin provides you with customer profiles that are so robust that it is possible to provide your customers with offers that really mean something to them.

Comcoin exists in the Mobile Wallet

You won’t have to worry about customers forgetting to show their loyalty card. In fact, they shouldn’t have to carry plastic cards anymore, or even paper-based coupons. Everything that creates value for your customers can be in the Mobile Wallet.

It never expires

As if the frustration around fragmentation of loyalty programs and the difficulty to reach interesting rewards wasn’t enough, sometimes the customer only has a limited time to spend what they have accrued. Comcoins never expire, so that’s another frustration you don’t have to worry about.

There are no complicated rules

With comcoin, there are no complicated rules or redemption restrictions. We believe that a loyalty strategy should be about making it as easy as possible for the customer and actively helping them to achieve their goals. We can help you achieve real loyalty.

 

If you would like to talk further, have any comments, or would like information about our universal loyalty currency, comcoin, please get in touch with us.