NTT DATA (Thailand) Co., Ltd., states that many organizations are stumbling in developing a loyalty program. They should consider using Blockchain technology to streamline the complex work process, reduce operating costs, link data securely, provide prompt solutions to customers, and create a seamless experience with the use of Smart Contract on a blockchain ecosystem to establish a centralized platform to connect allies and partners directly in one ecosystem without going through a medium, and to provide a seamless Key Touchpoint communication system to maintain a sustainable customer base.
Hironari Tomioka, President and Chief Executive Officer of NTT DATA (Thailand) Co., Ltd. reveals that the loyalty program will maintain good relations between the brand and customers in the long run and become part of the brand’s main strategy to create good customer relations that will lead to brand loyalty and new marketing opportunities by providing a seamless, convenient, and real-time experience as much as possible through a Blockchain ecosystem to connect various allies and rapidly exchange data via a highly secured platform with high flexibility to meet various customer demands. The Global Loyalty Programs Market Intelligence Report 2022 of the first quarter indicates that the loyalty program market is expected to grow 12.6% with 142,636.8 million U.S. dollar value by the end of 2022, and the global market is expected to grow 12.2% during 2022-2026 with 225,907.9 billion U.S. dollar in 2026.
NTT DATA has more than 10 years of experience in the Payment & Loyalty Program field, guaranteed by international awards from Everest Group, and nominated as one of the leading organizational Blockchain service providers in the PEAK Matrix® 2022. We have been developing Blockchain ecosystems widely to combine business, technology, and security together including loyalty programs that integrate back-end systems from allies in various industries such as finance, banking, insurance, and retail through Blockchain API (Application Program Interface) to allow users to access the loyalty programs on their registered platform. They may also collect and use points earned from the allies on one platform where the system automatically calculates the points of the allies. The data on the platform may also be applied to ongoing business developments, services, and customer relations.
From our experience in providing loyalty program services to organizations around the world, we recognize the importance of customer loyalty programs, but many organizations still face difficulties developing an effective loyalty program because the subscription process is so complex that many users give up especially in business groups with various allies and partners as each party has its own subscription process without any interface between each other making it impossible to share data and transactions across allies and partners. In solving the problem, a Blockchain ecosystem is developed to enable centralization and user data sharing on one platform. It also reduces the management cost with enhanced security Smart Contract that monitors transactions in the Blockchain ecosystem. All transactions are logged and traceable to prevent duplications, frauds, and other potential risks.
Loyalty Program with Blockchain based ensure good customer relations that will lead to sustainable brand loyalty through the Key Touchpoint consumer communication platform. Allies and partners under the same ecosystem may analyze and understand customer needs, develop demanded products/services, and enhance the experience overall.
“Recently, NTT DATA provides a loyalty program with Blockchain based to a major Australian ticket booking company. The program is integrated with a digital wallet platform to enhance the user experience by counting the points automatically when a user pays with a credit card and coupons on the platform in real-time. It combines the payment experience, point collection, and discount claims offered by many providers on one platform that leads to repurchases, new product offers, and better image”. Hironari concluded.
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