The problem of the market and the solution offered by smathium.
The market today is known to be static and it requires advancement and developments in almost all areas. The customers are not getting enough in terms of quality and brands spend too much in creating awareness. This article focuses on some of the problems that are present in the market. They include;
- A closed structure.
In the structure currently available in the market, there is a lock-in effect. Customers are tied to a brand or product. Most if not all of the existing loyalty programs have a closed structure. This poses so much of difficulty in many areas such as;
Inability to trade reward points elsewhere creating a limitation in the market structure and not allowing inter-trading with the same reward points which requires customers to open several reward points in end customers have a lot of problems in their hands in the form of loyalty programs.
Most times customer rights are not regarded.
Limited usage leads to customers neglecting a particular brand’s loyalty program thereby lowering its quality and possibly, an eventual close down.
The lack of differentiation and insufficient rewards
According to the records, in North America, about 36million dollars reward points expire every year. This shows how rapid the effectiveness of loyalty reward programs has declined over the years. This has left customers having second thoughts about the program with many on the brink of giving up and looking for a better option. Companies in same industry have uniform loyalty program such as stamp and coupon in café. This lowers differentiation and the rate of acquisition of the points is relatively low which leaves it impossible for use.
The loyalty programs lack sustainability.
Companies today are looking to gain instant result instead of the management of sustainable loyalty program due to the limitation of time and price of managing a loyalty program. This more than ever leads to the failure of the system and less investments are made on the brand’s loyalty product. This reduces the benefits of customers and thereby with no recommendation and reviews new customers are not attracted.
Brands are tied to platform
The existing loyalty programs are known to deploy a central server which is a structure for monopolising trade. The brands therefore, are tied to the platform most especially the micro-enterprise. This practice makes the structure vulnerable to hacking and external attack since it saves all the customers’ information in the central server.
The solution
The program designed to solve all the problems listed above is the smathium loyalty program. It is a program designed to fit the goal of the brands such as the brand designing rewards like discount coupon for their products. It comes with a smathium token (SMT) used in the smathium platform. The smathium platform is managed by the loyal factory forming its ecosystem and consist of the reward system. The block chain technology is applied and it manages all participants and modules in loyal factory with a decentralized server.
Conclusions.
Several problems are associated with the market today, which has turned the backs of quite a lot of customers away from loyalty reward points. The advent of smathium solution raises hope and builds a future for loyalty reward program.
TOKEN ECONOMY
- Token symbol: SMT
- TYPE: ERC20
- Total shipping: 10 billion
- SMT PreICO Price: 1 SMT = $ 0.003
- Price in ICO: 0.0060 USD
- Average price: 0.01 USD
- ROI: 66.67%
- Pre-ICO BONUS: 50% discount ICO as IEO: 10% discount
- Tokens for sale: 4,000,000,000
More: Informations
Website: https://smathium.io/
Whitepaper: https://drive.google.com/file/d/14AOnnmRhb74E1OQ0ggofj2ZlOcgIq3SH/view?usp=sharing
Facebook: https://www.facebook.com/smathium
Twitter: https://twitter.com/smathium
ANN : https://bitcointalk.org/index.php?topic=5129264.msg50507246#msg50507246
Author
- Btt username: invbeejay
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