Loyalty is a big word in business, as it ensures that companies will maintain their clients and customers. However, loyalty does not come without effort, and the companies need to give their clients and customers a reason to keep coming back. This is where Libra Incentix comes in.
Libra Incentix is a technology consultancy specializing in digital transformation, change management, and brand loyalty. It has a unique and highly-functional loyalty management system that incentivizes companies’ employees and customers alike. Essentially, the agency uses LIX to provide utility rewards that incentivize desired positive behavior.
In fact, it has created an entire loyalty rewards network that is valuable, meaningful, and global. It can be used for various purposes, from encouraging employees to use new, specialized software in exchange for rewards to encourage customers to keep coming back to your business to receive benefits for doing so.
How does it work?
Libra Incentix consists of seasoned digital transformation, change management, and loyalty management consultants. Its consultants are actually at the heart of its loyalty management system delivery.
The agency’s Consultant-as-a-Service is a technique of offering a consultative experience at a fraction of its traditional costs. The service itself comes from the agency’s web application, which uses specially designed templates to leverage best practice methodology that can be customized to specific business needs.
In addition to that, the agency’s LIX platform is easy to integrate with a company’s existing software. It can be used for incentives to help adopt new software within the companies. So, if a company wishes to provide incentives for adopting new software more quickly, it can integrate the LIX platform and deliver incentives with LIX utility tokens in exchange for using the software’s features. The token can then be redeemed to receive discounts for products and services listed within the LIX marketplace, which is where its true use cases lie.
LIX token holders can receive significantly greater discounts on goods and services by redeeming the tokens than the amount they would receive if they simply sold the token. This ensures that the token will be used for its actual use cases, rather than merely becoming another cryptocurrency that people will exchange for fiat.
This approach also means that the LIX platform’s loyalty management system significantly improves traditional loyalty reward systems, starting with the fact that the platform has substantially more utility value than traditional reward points.
Do loyalty programs work?
The short answer is — yes, provided that they are active. According to the Neilsen study, up to 67% of customers spend more frequently at retailers that feature loyalty programs. However, the problem lies in that only about half (54%) of implemented loyalty programs are active.
Having a reliable and active loyalty program as part of your business could significantly increase your user base. In addition to the natural growth of your business, meaning the arrival of new users, loyalty programs can ensure that your old users will not leave your company without returning ever again.
Other studies have confirmed that 69% of customers stated that loyalty programs influence their choice of retailer, which makes sense. You would shop at the store that offers special perks rather than at those that do not. Some loyalty programs offer cashback or discounts, such as Libra Incentix’s, and 57% of customers who join loyalty programs do so to save money. 37.5% of them wish to win rewards, and half of the buyers stated that they are willing to change their entire behavior to attain a higher tier of the customer loyalty program.
Finally, the honest answer to whether loyalty programs work or not, from the mouth of the customers — the grand majority of 76% of customers said that loyalty program strengthens their relationship with the brands that they can offer them. In other words, yes, loyalty programs do work, and businesses should consider implementing them. They will strengthen their relationship with their customers, and they will also keep their customers and see their user base grow as they continue receiving new ones.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency.