In a nod to just how mainstream blockchain technology and cryptocurrencies like Bitcoin and Dogecoin have become, 44% of people now say they’d like to receive loyalty rewards in the form of digital assets. By offering digital currencies as an alternative to cash-back rewards, retailers are helping their programs stand out and bringing curious shoppers back into their stores.
As the country reopens and consumers step outside once again, brands are beginning to reimagine their loyalty programs for a post-pandemic world. That means pivoting away from strategies that rely on third-party data and providing more customers with relevant experiences in owned digital channels.
According to McKinsey, more than 75% of consumers tried new brands, places to shop, or methods of shopping in 2020. The reason? Product availability was high on the list, but so were price and the availability of promotions. Now, as the vaccine rollout continues and states work to get back to normal, brand marketers are finally coming up for air and looking at how they can adapt their loyalty and rewards programs for the post-Covid world.
Within the hospitality industry, a growing number of hotels are using voice technology to improve personalization with experiences like virtual concierges. Virtual concierges use voice technology to personalize a guest’s stay by offering experiences based on past behavior. For example, virtual concierges can adjust thermostats or place room service orders based on a traveler’s previous preferences. When hotels and other hospitality brands take action based on the insights gathered about guests through their loyalty programs, they improve the overall guest experience.
But brands in a number of industries are exploring loyalty use cases for voice.
It’s fair to say the local marketing industry has been a little disappointed by the adoption of mobile payments. The combination of a sluggish hardware upgrade cycle and consumer reluctance appears discouraging. But there are catalysts on the near horizon.
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