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Conventional loyalty programs are stagnating — and with them, advertising dollars. Referrals, points, and punch cards don’t create the full customer experience that is meant to delight, create, and retain customers. The reason is that loyalty programs rely on purchase frequency to reward customers, instead of creating some kind of perceived value for their clients. Structured like this, it’s obvious to the customer that loyalty programs reward the service provider, and not so much the client.
Companies often run loyalty programs and marketing campaigns alongside one another, yet very rarely working together. This often leads to distinct results. While marketing programs are looking to drive sales, the genuine loyalty-based approach focuses on a lofty agenda, for instance, to make clients identify themselves with a certain brand. Rather than reinforcing each other, they can often work against each other. Herein lies the two problems of loyalty programs. Into the breach steps HOOCH and TAP Coin.
Hooch Shifts the Paradigm
So what does should loyalty program entail in 2018? On the one hand, this is good old marketing with all its bells and whistles. On the other hand, it also should be all about a new, convenient customer experience, which clients would like to repeat on a daily basis. Of course, this is the ambition that companies rarely pull off.
However, one such company, HOOCH , is trying to be an exception to that rule. It’s a lifestyle app that provides its users with one free cocktail every day in the top bars and restaurants all over the world, from New York to Hong Kong, as well as attractive discounts at over 100,000 hotels. Rather than a specific brand or company’s stand alone loyalty program, HOOCH is an amalgam of all the best on offer. Given its initial success, it has taken it one step further (and plans to take it one further again).
The HOOCH BLACK premium program costs $295 a year and offers celebrity-level treatment with exclusive perks such as a jet trip to the Montreux Jazz Festival or going backstage at Coachella to meet your fav singer. It’s a loyalty program like no other.
TAP Coin, The Next Stage of Advertising
Being a whole lot more than just a point system and the alternative to traditional punch cards, Hooch creates a new customer mentality. It has put aside all unneeded clunky loyalty efforts and heavily focused on a more holistic program that incorporated many businesses into the one platform. In order to take this further, TAP Coin was created, which is essentially the next evolution of the traditional loyalty program.
TAP Coin creates a new loyalty ecosystem, where one common interspendable asset is used and it is TAP Сoin. It solves the old problem where there’s no one common asset or so-called “bonus” that can be spent all across the world in different restaurant branches, hotels, and others.
This allows Hooch members to be rewarded with TAP Coin once they make a purchase with their credit card or when they want to share their purchasing data with brands, and when consumers have collected sufficient amount of TAP, they can use it by themselves or make their friends happy by gifting a drink, food or discount. TAP becomes the loyalty currency, which does not discriminate according to origin of the loyalty points.
For this very reason, TAP Coin creates a unique customer experience in the hospitality sector, where loyalty and spending are not only linked, but realizable. Further, the advanced approach by Hooch to understanding and realization of loyalty programs leads to such benefits as:
- Lower marketing costs
- Retaining customers in periods of instability
- Unique offers based on new loyalty programs
The Future of Decentralized Advertising
So the future of decentralized advertising is all about providing an obvious utility to consumers when they make a purchase. The strength of new loyalty programs depends mostly on the ability of company owners, marketing and brand managers to look beyond typical rewards programs to remedy clients’ problems and create an obvious, rewarding relationship to the next level.
This is how TAP Coin plans to keep its partner brands and customers in a prosperous, ongoing relationship. The bottomline is to encourage customer loyalty by anticipating their desires thus making their life more convenient and pleasant. It creates faith. It creates loyalty.