DECEMEBR 20199to do so unless there is a way to make those points count and add value.As per a survey, U.S. 160 billion is the annual value of unredeemed loyalty points; U.S. 45 billion have been left unused on gift cards in last 10 years while 31 percent of credit card holders have never redeemed their credit card rewards. There are several reasons why the remaining programs end up unused, forgotten, and eventually not serving the purpose that they were made for. These include:· Companies, are unable to sell the value proposition of the program to the customer · The customer is already part of several other programs, domestic and international, each having their own point systems and different means of access (name, mobile number, email ID, etc.) and they lose track of them· Each program has a different system of points and varied redemption options, which are cumbersome to keep track of· Customers believe that the potential to earn real benefits from the particular program is not worth the effort· Most programs are maintained on the businesses' database, and the customer is only left with a card or an email to keep track of them· Once the programs are rolled out, companies rarely follow up on their redemption with their customers· Companies seldom build a good program that can be accessed on mobile, providing ease of access· Businesses are not investing in data analytics to gain insights into what the customers may expect as a part of the programs, which means that the benefits of the program are often random and without any real or personalized valueThe redemption process is long and time consuming · Most programs demand that the redemption happens only at a specific store/stores, curtailing the customers' reachBusinesses and corporate may have the right intention, but they lack the expertise to design personalized GBRL programs and do not have a wide merchant network to enable easy redemption of points. What they need is one unified platform that will enable them to continuously engage with their affiliates and customers, and enable the customers to reap all the benefits of a multitude of disparate GBRL programs from an integrated globally-accessible space, while also keeping their identity unique and critical data sacrosanct. What they need is block chain to piece all the missing bits of the puzzle together. A disruptive technology, block chain creates a unique algorithm-generated token when a loyalty point is either issued or redeemed. Grouped into blocks, these tokens become a ledger of transactions that can be accessed across a network of businesses, customers and merchants. These blocks are decentralized and secure and act as one single wallet or app for the customers to view and access all their loyalty programs from, without having to keep track of disparate terms and point systems. Companies can also add many more affiliates and partners without added complexity and enable the customers to redeem their accumulated points from a wide range of stores. They can leverage these technologies to also gain meaningful insights into the customers' behavior and create more specific, personalized programs. ZAGG Protocol is the first truly global block chain-based solution for the GBRL industry. It is a one-stop solution for businesses to engage with their customers effectively at an affordable cost. Customers get the dollar value for their accumulated points, which are all accessible on one platform. Merchants onboard their GBRL financial assets on them, providing an opportunity for end-users to aggregate and trade them seamlessly.Now businesses will find it easy to create personalized customer engagement and retention programs in the digital space. And as for customers, well, let us just say that all those cards and vouchers taking up precious space in their wallet are no longer required; points accumulated across a multitude of merchants can now be tracked and redeemed with the power of block chain anywhere in the world at the click of a button or can be exchanged for ZAGG tokens. A disruptive technology, blockchain creates a unique algorithm generated token, when a loyalty point is either issued or redeemed
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