Thank you for Subscribing to CIO Applications Europe Weekly Brief
Re-Engineering Marketing Strategy with Gamification and Blockchain
The online marketing practices across the world are shifting so rapidly that it has become hard for marketing professionals to discern which channels are best for reaching their target audiences. Traditional marketing strategies are gradually losing their ground, which is paving the way for modern marketing tactics to improve customer engagement.
One of the recent innovations in this arena is utilizing gamification and blockchain technologies to unlock a whole new level of engagement. The technological advantages of blockchain, when put together with the engaging power of gamification, can become the key for businesses to overcome obstacles and streamline their marketing activities.
Suggested Read: A Closer Look at Block Chain Technology
By John Shea, CIO, Eaton Vance
perfect example of this is a trend in the retail industry—loyalty programs. A common criticism against most loyalty programs is that they are designed to increase profit for companies. Some companies are even alleged of having implemented unfair rules, making it extremely difficult for participants to receive a reward. By combining blockchain and gamification technologies, businesses can easily avert these issues through the implementation of a transparent, incentivized loyalty program.
Along with that, the use of crypto tokens would also give customers more flexibility with their loyalty points. While most loyalty programs limit these points for exclusive use and redemption with their respective brands, crypto tokens can be exchanged for other crypto or even fiat money, making the program more user-friendly and universal.
Check out: Top Blockchain Consulting Companies in UK
You may like: Blockchain CIO Perspective
By Mary Kotch, EVP Global CIO, Validus Reinsurrance and Marie-Christine Razaire, Underwriter, Validus Reinsurrance