What is it about?
Blockchain-based loyalty programs can substantially transform business-to-consumer (B2C) relations. In this study, we examine five features of such programs: usage, accrual, relevance, expiration, and transferability. An analysis of 5,059 Twitter tweets shows more positive feedback for a blockchain-based loyalty program as compared to a traditional one. A survey among 206 consumers confirms blockchain’s advantages for designing loyalty programs.
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Why is it important?
This is the first study to rigorously investigate the impact that blockchain can have on B2C loyalty programs. Academics can use it as a basis for further research and marketers can get some inspiration on how to design innovative programs that benefit their customers.
Perspectives
Working on this study was a lot of fun since we entered uncharted territory and we believe that blockchain will be a game-changing technology for marketers. Blockchain is still poorly understood among many industry professionals and we hope that our study will help readers to better understand how it can be used to benefit companies and their customers.
Dr. Horst Treiblmaier
MODUL University Vienna
Read the Original
This page is a summary of: Is it time for marketing to reappraise B2C relationship management? The emergence of a new loyalty paradigm through blockchain technology, Journal of Business Research, April 2023, Elsevier,
DOI: 10.1016/j.jbusres.2023.113725.
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