Case Study: MobileBridge Momentum Let's Taco World Build Its Brand Loyalty

mcdform (46)in #blockchain • 6 years ago

Taco World Has Competition

Taco World has been in business for about 3 years and has consistently high ratings on Yelp and has often found itself as the subject of "Best Of" articles for the surrounding area. Recently the neighborhood has been undergoing change and the demographic is now younger, more tech-driven, and also more affluent.

Taco World has been losing customers because many of their regulars have left the neighborhood to find cheaper rent and the new residents haven't yet found the restaurant due to a wealth of eateries in the area.

The business manager behind Taco World decided to hire a marketing team to create a plan that attracts the new, younger crowd. The marketing firm introduces Taco World to a blockchain based marketing and loyalty rewards platform calledMobile Bridge Momentum.

What is MobileBridge Momentum?

Mobile Bridge Momentum is a blockchain based marketing a loyalty rewards platform that rewards users for their data. The data is then used to create brand loyalty rewards and marketing campaigns that target consumers during their most receptive time, known as the mobile moment.

MobileBridge Momentum will use an internal currency known as MMTM and will also allow companies to create their own branded tokens that can be used to purchase goods and services, exchanged for MMTM, or exchanged for other branded tokens.

Time For Tacos to Meet Technology

The marketing firm discusses all of the metrics that are going to be used to increase business including internet browsing patterns, spending habits, geographic data, and personal survey responses. Taco World is scared of the cost until MobileBridge Momentum is explained.

With Momentum the consumers opt-in to the platform and get rewarded with MMTM tokens for sharing data and answering surveys. The marketing firm can use a drag and drop menu to create a full-scale marketing plan that targets consumers based on their interests, location, and current mood.

The Plan

Taco World is ready to create a plan to take back the neighborhood. The plan has multiple components.

New Customer Promotion
Social Sharing Promotion
Review Promotion
Loyalty Program

Phase one is about acquiring new customers from the local area and phase two is about retaining them.

Customer Acquisition

Phase one introduces the components for finding new customers and acquiring their friends and those they influence. Taco World has created a free taco promo that will automatically be sent to MobileBridge users that are within walking distance and also searching for places to eat on their mobile devices.

If the user accepts the coupon or shares the promo with others in the group or on social media they will be rewarded with custom branded TACO tokens from Taco World (more on this later).

After the new customers eat at Taco World they will also be rewarded with TACOs and can earn additional TACOs for writing a review on accepted sites.

Keeping Customers

When phase one begins bringing new customers into Taco World the loyalty program will begin. A loyalty program is a key tool in the MobileBridge Momentum ecosystem. Momentum allows for companies to create their own branded cryptocurrency tokens. Taco World has created TACO.

Taco World chooses what benefits TACO tokens have and how customers can earn them. In this case, customers earn TACOs for eating at the restaurant, introducing others to Taco World, writing reviews, and answering surveys.

TACO tokens have many uses including exchange for goods and services, entrance to special events, or they can be traded for Momentum (MMTM) tokens which can be converted to fiat via an exchange. TACOs can also be exchanged for other branded loyalty tokens.

The marketing firm also has unique ideas about the tokens like introducing a token-based menu curation club where token holders vote on new menu items and the most loyal customers have the greatest voting power.

What About Taco World?

When the plan is implemented Taco World finds that the customer base begins growing almost immediately and the sign up for the loyalty program is near 80%. The advanced analytics that Taco World receives via the MobileBridge Momentum dashboard shows that the new customers are visiting based on the initial promo and word of mouth via shares on social sites.

As revenue increases based on customer usage of MobileBridge the amount of data collected about customers also increases. The new data is allowing Taco World to continue to refine their business practices to retain these customers and to find new ways to attract new customers that are similar to their current base.

Summary

MobileBridge Momentum is an advanced marketing solution for businesses interested in acquiring and retaining new customers. The ability to create ultra targeted promotions based on a broad set of collected user data allows Momentum to take advantage of the mobile moment.

The unique capability of creating branded tokens will allow chains to develop ecosystems of rewards that work within their entire brand network.