Team Behind SailPlay Makes Mobile Payment, Other Rewards Liquid
Loyalty program points are a wonderful thing; they provide customers with a reason to frequent certain businesses, and give those businesses a way to stand out in the field by rewarding customers for providing that ever-important repeat business. Sometimes, however, rewards aren’t always easy to use, and this can make them almost as useless as not having a rewards program at all. The folks who brought us the SailPlay system are now setting their sights on rewards, and introducing the SLP system to help make rewards easier to use with the power of blockchain.
SLP, dubbed a “targeted marketing engine”, takes the blockchain concept and effectively allows users to tokenize rewards points, making them almost a kind of short-range cryptocurrency that can only be used at that location. It also seeks to provide a dedicated wallet for these loyalty tokens, making them that much easier to access and use later.
One of SLP’s developers, Leonid Shangin, commented “From speaking and listening to our clients and users around the world from every major continent, and hearing frustration about their wasted loyalty points, it became clear that there needs to be a solution. But we needed to create a tool that was user-friendly, something for a mom or dad at home or an executive running to catch a flight could use quickly and easily…that solution is SLP.”
Such a move comes at a good time; a 2017 report from Colloquy suggests that around 60 percent of customers ignore loyalty-related communications, while 54 percent of loyalty members are inactive. That’s a lot of points going to waste and a lot of people wondering if loyalty programs even make sense any more. We’ve talked about loyalty programs here a lot in recent days, and it comes down to value. If the customers can’t readily use these loyalty points, it increases the chance they go unused, forgotten, and having no impact.
Making loyalty programs easier to use helps both customer and business, and that’s a proposition that’s hard to pass up. It’ll be worth noting if SLP can deliver on its promise, and make loyalty programs more valuable by making them easier to use.