23 Dec Crypto Cashback as the Future of Loyalty Programs
It’s a well-known fact that retaining an existing customer is way cheaper than attracting a new one. In today’s ever-competitive landscape, loyalty programs can prove a useful strategy: 62% of customers participating in paid loyalty programs are more likely to spend more on a brand. But what if you made cryptocurrency cashback a part of the fun?
A powerful incentive
Cashback programs are nothing new – they date back to 1986. Back then, Discover Financial Services launched a credit card that offered novel benefits, including a cashback bonus on certain purchases.
Skip to the modern-day, and you’ll see that with the implementation of blockchain technology in today’s business world, crypto cashback and crypto rewards have become the new trend. And by tapping into it, brands can find yet another way to connect with both new and existing customers.