[FADO Go Product Updates] The Perks of Blockchain Loyalty Platform in FADO Vietnam
On October 30, FADO Go officially announced the event of integrating our Loyalty platform with the leading cross-border e-commerce platform in Vietnam, FADO Vietnam.
The ceremony marks an important milestone for the FADO Go Loyalty platform, as our product has successfully integrated with the first partner and reached 1.5 million end users who are customers of FADO Vietnam. This is an important turning point for our product to have the opportunity to collect feedback from customers and partners to become more complete.
Customers shopping at FADO Vietnam will now experience attractive loyalty programs built on our blockchain loyalty solution. So, How FADO Vietnam and other partners in the future will benefit from features of the FADO Go Loyalty? Let’s take a look at some outstanding features
1. Issue Rewards Points
FADO Go Loyalty’s rewards points provide partners using the platform in two forms: Customized reward points for partners or FADO tokens, for partners who choose FADO tokens as their reward points, will receive special incentives when using the platform. But normally, partners will want to own their own points for their branding, in this case, FADO Vietnam chose the first one. These customized reward points are built on the Blockchain system, to receive them FADO Vietnam first has to own the FADO tokens to convert at a certain rate. Because these points have Blockchain technology behind them, they are reusable when customers use points to redeem gifts or reward points in customer wallets that expire, will automatically return to partner’s wallet to use for the next programs.
Rewards points are the most important feature, an integral part of any loyalty program. The points will help FADO Vietnam increase the repurchase rates thanks to the mechanism of redeeming rewards from those points.
Customers of FADO Vietnam can receive rewards points through the partner’s rules which can be points for each VND spent at FADO Vietnam, following social media, leaving product reviews, check-in in every day, etc.
After a while when customers accumulate enough rewards points they could exchange them for rewards. Redemption programs can also be equally diverse, such as discounts, free products, or free shipping. These attractive rewards will help FADO Vietnam effectively increase repurchase rate.
In addition, FADO Go Loyalty’s Blockchain technology-applied reward points also possess security, transparency and immutability, which creates a transparent reward redemption mechanism among members on the platform in case partners would like to organize Cross-sell programs.
2. Membership Program
The next useful feature we bring to FADO Vietnam is the ability to issue membership cards with NTFs.
These technology-based membership cards will help partners build a strong brand community, by dividing membership cards into tiers, the higher the tier, the more valuable rewards and incentives they will receive that only customers with membership cards can have.
This card will bring a long-term connection between shoppers and FADO Vietnam, increasing CLV (Customer lifetime value), customers from now on after having the need to shop for goods across borders will remember FADO Vietnam first because of the incentives they will get from the NFT membership card they own.
Besides, this membership program can also apply creative gamification in partner’s own way, which is a very potential solution to bring a large and stable engagement for FADO Vietnam.
In order to be promoted card’s tiers customers must meet the required shopping goals or participate in the required activities. For some customers who want to experience the benefits of higher tier cards, they can buy tiers to save effort and time.
Thanks to NFT technology, these membership cards also have a unique ability. They carry their own value and could be exchanged independently between wallets in marketplaces.
This is very useful in the case that customers no longer want to keep membership cards, they can sell them to other customers in need, so the number of members of the brand won’t be lost, which means FADO Vietnam continues to own loyal customers that bring long-term value to the business. This is a supper useful application of FADO Go Blockchain Loyalty will help to further raise the value of brand’s loyalty program in shopper’s minds.
3. Loyalty Admin Dashboard
The management system for the partner or the operation department will automatically provide the necessary data to gain valuable insights from which FADO Vietnam could manage and optimize the programs for customers through indicators as important as ROI. Some of the uses this feature brings:
- Compare metrics of active vs. inactive loyalty and referral members.
- Track the number of active customers and set benchmarks for future growth.
- Generate scheduled reports to easily share data with teammates and stakeholders.
Especially thanks to the Dashboard FADO Vietnam can build referral programs, on the basis of taking advantage of incentives on rewards points and rewards to motivate existing loyal customers to introduce FADO Vietnam to relatives and friends. Based on the fact that shoppers always trust word of mouth more than any kind of advertising, businesses will significantly reduce acquisition costs.
4. Software Development Kit
This feature is simply a set of recommendations FADO Go Loyalty Platform criteria for partners so that they have suggestions to build programs for their customers.
For example, the criteria to reward customers when shopping or interacting with FADO Vietnam on social networks, or maybe rewards for successfully referring the business to friends and relatives.
When partners make good use of this tool to create good programs, FADO Vietnam’s image and service quality will be outstandingly different from competitors in the industry.
Conclusion
FADO Go’s Blockchain Loyalty can fully meet the basic features of a traditional loyalty program with additional outstanding features from Blockchain technology. Our solution will bring great value to our future partners. Not only that, partners can also receive benefits from FADO Group’s ecosystem when using the platform, along with countless other attractive features of the platform that our team is developing.
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