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Posts by Juli

How do loyalty programs [un]work?

Loyalty Games

Discount and loyalty programs were invented more than one century ago. Once upon a time, customers were given metal tokens and stamps issued by a different shop. In those distant times, people lived settled and traveled, at best, on horseback. They were going, by modern standards, not on a trip, but rather on a walk.

Since then, a lot has happened. But the want to stimulate sales, and ideally, to tie the buyer to the retailer, has remained. And, oddly enough, the methods in their essence have not changed significantly. Every store or retail chain strives to achieve pure customer loyalty. So they spend extraordinary amounts of money on developing CRM and loyalty programs, making changes to IT systems and cash desks, issuing plastic cards, mobile applications, and distributing them among customers, forgetting that such systems work great just in case no one else is doing it and become a real disaster for customers as soon as every retailer starts doing roughly the same... or almost every retailer because not everyone has enough resources to implement complex and expensive IT systems.

The sophisticated reader will probably notice that the era of plastic cards is already in the past. And today, everyone has a mobile to store numerous loyalty card numbers, and many retailers have already abandoned cards altogether and switched to mobile numbers and applications.

Yes, this is true. The point «issuing plastic cards and distributing them among buyers» is rapidly disappearing from the long list of necessary, and the user experience is becoming much more successful.
But in the era of mobile applications, illiquid points remain illiquid, no one canceled the arbitrariness of retail, and the accumulated bonus points continue to be revoked or depreciated at the command of «the boss of the whole loyalty» of the retail chain or airline.

The «loyalty» turned out to be bizarre. It seemed that retail built the system in the buyer's interests, who would stay with the store, chain, or airline in gratitude for the special treatment. But the result is we wanted the best, yet it turned out as always. Once feeling a donkey carrot, the buyer turned away from the offered gingerbread of points and miles while gravitating towards promotions with the money-up rule.

The idea behind the Liquid Bonus™

The idea of the “Liquid Bonus” as the unified token into which you can transfer your points, miles, and other rewards provided by retail chains, stores, and airlines, has appeared instantly. But it took a long time to find a solution that would not become another partnership or coalition of several sellers. You can come up with a new elegant solution that will bring success and money but will not change the essence. This time, my goal was not common for a business innovator.

For the Liquid Bonus™ to become attractive to buyers and retail chains, it must be truly global, i.e., it shall work not only with the majority of sellers but also be widely accepted in different countries. This tool should not interfere with the process already established by retailers or loyalty coalitions for their loyal customers. And it should not share any customer data accumulated in the loyalty program of an individual retail chain or loyalty program. At the same time, I thought, LiqBon™ must ensure trustful relationships between the participants in the system, even if initially they have no trust in each other at all and even some are direct competitors. By joining such a system, retailers and manufacturers would be able to expand the capabilities of their CRM systems while eliminating the worst drawback of existing loyalty programs - the periodic expropriation of accumulated loyalty points and miles.

But it turned to be that the major retail market players are not ready for "loyalty reward roaming" service today. Well, this is old news for me. Many years ago, when the author worked for the emerging mobile telecommunications industry, telecom operators did not want "to share their subscribers and profits with competitors" either. But later on, the network and international roaming appeared, which in some places began to generate even better revenues than intranet telco services. So I am strongly sure there is more to come!

Do you believe in the idea of a “loyalty reward roaming” service?

If yes, please join our community or follow our discussion group to provide your input in improving the Liquid Bonus™ ecosystem or connecting new consumers, manufacturers and service providers, shops, and merchants to it, so that everyone can enjoy shopping and selling with less intermediary frictions!

FINSTICK Innovations launched the Liquid Bonus™ Ecosystem - the first independent incentive environment focused on the benefits of consumers.

Moscow, 25 December 2021 - FINSTICK Innovations have completed the development and pilot testing of the Liquid Bonus™ ecosystem.

Liquid Bonus™ (abbreviated LiqBon™) is a versatile non-expiring irrevocable reward point designed for electronic tips and other individual rewards. Created as an open and independent token, it can be freely donated and accepted by companies, retailers, or individuals. LiqBon™ can also be used for retail customer acquisition campaigns, promotions, and the «loyalty roaming» service.

This is the marketing tool aimed primarily at the interests of consumers and a wide range of smaller market players who have failed to create and use their own system for attracting and developing customers by either reason or have created it but could not compete with larger players. LiqBon™ is fully interoperable and has no legacy loyalty program holding it back. The circulation of Liquid Bonus™ rewards is carried out in the open Club LiqBon™ ecosystem (liqbon.club), with no corporate or geographic boundaries.

«We have invented and released for free circulation the Liquid Bonus™ Reward as the world's first universal and independent digital incentive token aimed at electronic tips and promotions. It shall work equally well for the benefit of all users, from consumers and small traders to large manufacturers and international retail chains interested in increasing the number of motivated buyers.», pointed out Juli Kuznetsov, CEO of FINSTICK Innovations.

So far, this Club LiqBon™ reward ecosystem is in its infancy. Still, thanks to the user community, it shall soon become a reliable and mature service capable of eliminating most of the existing contradictions and unfairness regarding the accrual and invalidation of loyalty points or miles in the centralized corporate loyalty and sales promotion systems.

For most bigger retailers, the Liquid Bonus™ shall remain a kind of "silly toy" until millions of potential buyers start using it. Subsequently, this tool shall occupy at least a niche for the "inter-program-roaming" - a service designed to open up the tightly centralized closed loyalty programs and other corporate customer development systems.

«We believe in the success of the Liquid Bonus™ as it has been designed and developed for the sake of buyers and businesses that are ready to implement a more flexible, fair, and open customer policy. In addition, 21st century IT and telecommunications have provided unprecedented opportunities for self-organization and building up user communities that can successfully compete even with business giants. A lot is being changed in the post-pandemic era. I hope that most of these changes will turn to be useful for the vast majority of either smaller businesses or global market players.» , He added.



About FINSTICK Innovations: FINSTICK Innovations LLC (www.finstick.net) is a startup focused on disruptive IT technology for the emerging fintech, blockchain, community management, and digital retail markets. Founded in 2017, FINSTICK Innovations relies on highly motivated professionals in cryptography, mobile payments, smart cards, telecommunications, and value-added services. With over twenty years of hands-on experience and several invention patents, our team is the bearer of the best Russian practices in software design, development, optimization, and integration of complex IT systems.

About the Liquid Bonus LiqBon™: Liquid Bonus LiqBon™ is a digital token of gratitude, multipurpose electronic tips, a versatile non-expiring irrevocable reward point designed for individual rewards. It can also be efficient for retail customer acquisition campaigns, promotions, and even establishing loyalty systems roaming service. Liquid Bonus™ works with a user-friendly mobile interface providing secure access to buyers' and sellers' LiqBon™ Pouches, as well as the frictionless exchange of reward points. LiqBon™ is fully independent, interoperable, and has no legacy loyalty program holding it back. As such, it is the Liquid Bonus™ that can consolidate the fragmented loyalty rewards market into a single and healthy ecosystem.

About Club LiqBon™: Club LiqBon™ (www.liqbon.club): is a valuable part of the disrupting Liquid Bonus™ ecosystem based on the state-of-the-art Blockchain solution invented by FINSTICK Innovations. It provides a unique combination of throughput, reliability, and security, eliminating most of the mass-market frictions related to the complexity and costliness of modern loyalty programs. It is also a free complimentary marketing tool aimed at unlocking the retail market potential by activating dormant customers who are motivated but don't visit. First of all, it is aimed at a wide range of smaller retail market players who either failed to implement their own CRM system for attracting and developing customers or launched it but have failed to compete with bigger retailers.
Club LiqBon™ provides direct interaction between smaller retailers and consumers, bypassing intermediaries. This interaction shall improve over time so buyers will be able to get cheaper first-hand products and services.

About LiqBon™ Community: Today, more than ever, we are missing associates and adeptors for improving the ecosystem and telling about its benefits. Therefore, we are looking for allies and regional associates who would soon become respected and influential members of the LiqBon™ driven public retail community. Please forward this press release to at least ten people you know who might be interested in it or who may find Liquid Bonus ecosystem useful to their business. We truly believe in the power of community. We also believe that small retailers and manufacturers can compete with the fat cats of the larger retail business by joining a free ecosystem consolidating smaller retailers and consumers. Please email us your suggestions for improving the service and your articles / opinions for publication in our blog LiqBon™. Please stay tuned to our Telegram, Twitter, MEDIUM.COM or Reddit. pour les dernières nouvelles de Liquid Bonus™. channel for the latest Liquid Bonus™ news. Also do not hesitate to join our Telegram discussion group.
You can also join our design, development, or promotion environment to make a feasible contribution to the Liquid Bonus™ development. Please send us your suggestions on how you can help the LiqBon™ ecosystem becoming more convenient and attractive so we can qualify which team yo can join.
We are looking for active regional coordinators who can become leaders of the LiqBon™ community in their region or even country.
Join us, and we will DO TOGETHER!

Сommuniqués de presse en français.
Pressemitteilungen auf Deutsch.
Comunicados de prensa en español.
Comunicados de imprensa em portugues.
Türkçe basın bültenleri.
Δελτία τύπου στα ελληνικά.

Liquid Bonus™ Ecosystem Is Useful For Merchants In Tourist Regions.

Istanbul and Dubai, Cairo and Bangkok, Paris, London, Seattle, and many other touristic cities and regions need instant post-pandemic access to potential buyers more than ever. If retail chains, hotels, and logistic companies are already conducting customer acquisition campaigns to return their customers, for hundreds and thousands of small outlets, from private stores to melons and gourds, from cafes and dentist offices to beauty parlors and domestic workers, the activity to attract customers often comes down to installing an advertising banner next to the road.

The first community-driven bonus reward ecosystem «Club LiqBon™» is aimed at changing the established practice and raising the marketing capabilities to a new modern level for even smaller retail market players.

Indeed, thanks to the Liquid Bonus™ reward ecosystem, every entrepreneur can quickly and easily publish the outlet and its daily offer to the interactive community map. Moreover, the personal marketing campaign for attracting customers can be launched at any time and it shall cost nothing at all. Just install and set up your mobile LiqBon™ Pouch application and announce: «Today we accept LiqBons™ against discount», or: «Whoever bought a watermelon today, shall also have an extra thanks weighing 100 LiqBons™.» It is all simple and fast as it has never been before!

Of course, this is not the usual classic loyalty program. Every task requires its own solution though. The Liquid Bonus™ ecosystem relying on LiqBon™ rewards has its particular properties, which are sure to become useful for most merchants, manufacturers, and consumers. Give it a try and share your successes with the community, it's totally free!

LiqBon™ Reward Is The Multipurpose Electronic Tip

Have you ever faced a situation when you were well served in a large supermarket, but you've failed to valuably thank the employee who made your shopping pleasant? And this has happened just because it was inappropriate to thank by cash, or there was just a credit card in your pocket, and the shop does not provide any other way to thank the employee with something more significant than just the words "thank you".

The digital Liquid Bonus™ reward is the perfect tool for such a situation. First of all, it is very convenient. If you just scan the QR address of the recipient's pouch from the phone, badge, or business card, you can donate your LiqBon™ - tip right away, or, for example, while queueing at the checkout. Secondly, it is interoperable and does not depend on the retail network. All Liquid Bonus™ rewards that have been received as your tokens of gratitude, could be freely disposed of elsewhere and at the own discretion of the recipient.

The Main Properties of the Liquid Bonus™ Rewards.
Free To Earn

There are no limits on the transfer of Liquid Bonuses™ inside our community-driven bonus ecosystem. Every person, store, trader, manufacturer, or supplier can earn LiqBons from anyone and grant them to anyone else. The only limitation for granting LiqBons is their amount in your pouch. Every LiqBon™ Pouch owner is totally free to choose what and how much to share from the available Liquid Bonuses™.

Free To Accumulate

Did your illiquid miles or points disappear because the airline or supermarket just didn't want to store them in their CRM system? This is a common event for an existing corporate customer reward system because when issuing reward points, the seller never grants the exclusive rights to store and to redeem them for rewards. That is why we call them "illiquid".

Your accumulated LiqBon™ rewards cannot be nullified since they are stored in a global registry where absolutely all operations are recorded so they can not be just erased. Indeed, all pouches and transactions are interdependent, and to fake an operation or contents of a pouch, all the registry, starting from the first minute of its existence, would have to be corrected.

Is it really impossible to lose my LiqBon™ savings? Certainly, it is possible. This does not refer to technology, but rather to user behavior. For example, having your phone stolen, a thief will be able to transfer all your LiqBons™ from your pouch to himself. Or, for example, if the mobile device breaks down, then all data including the pouch application will be lost. Nevertheless, every user can restore access to the LiqBon savings by installing a LiqBon™ Pouch application on a new phone, using the unique data, consisting of the name and the set of codewords ("code sequence" or "seed phrase"). But if the unique user data is lost or forgotten, the LiqBon savings will be irretrievably lost.

Note that if you forget the exact spelling of the name and the seed phrase used during the initial registration, then all your LiqBon™ savings will be inaccessible even with the help of the developer. So the pouch with your savings will remain unattended in the registry until a new user will manage to accurately reproduce your name with the seed phrase. Although the probability of such an event is so small that it is almost impossible.

Free To Redeem

Unlike the existing proprietary corporate loyalty programs with their illiquid points and miles, the open Liquid Bonus™ ecosystem allows free cross-business and cross-border use of LiqBon™ rewards. Every Liquid Bonus ecosystem community member can get and grant LiqBons anywhere and for anything - not just in the country of residence, but also on trips around the world.

Club LiqBon™ guarantees the true freedom to own and dispose of incentives. The rusty corporate loyalty points and miles are going back in time.

Who Needs These LiqBon™ Rewards!?

Every single user decides how to use the LiqBon™ Rewards. They can be given to another person as a token of gratitude or maybe spent at any participating store that already has its own seller's pouch. The important thing is that now absolutely any user or store can freely receive, save, give away and exchange their Liquid Bonuses without any risk of losing their savings due to a whim of a loyalty program owner.

Revoking Loyalty Points Fire Your Rights To Reward.

Have your points been invalidated just because the airline or supermarket no longer wanted to store them in the IT system? This is a very common practice for the traditional closed loyalty programs, where all conditions are determined by the retailers. So the buyers are left completely powerless in their ability to save and reward of the corporate awards. The point is that retail chains, airlines, banks, and other large businesses perceive the rewards as deferred liabilities to their customers. Therefore, they prefer to get rid of them from time to time so as not to spoil the business performance, even though it harms the image and the main goal of every loyalty program - to increase the customers' loyalty.

Liquid Bonuses LiqBons™ cannot be revoked since they are stored in an independent registry, where absolutely all operations are recorded and organic. It is impossible to delete LiqBon™ or erase an operation there. All LiqBon™ Pouches and their contents are interconnected, therefore, the entire registry would have to be reformatted from its beginning to the end for the sake of a tiny correction. Having received Liquid Bonuses™ in your Pouch, you can be sure that they will never expire, can not be deleted, or written off at the behest of the participating retailer or the system operator.

Would you like to keep your reward points or miles forever? Just ask your favorite retailer or airline if they have already started exchanging "excessive" points and miles to LiqBons™ instead of disposing of them by expiration. You can also ask them to stop discouraging customers from saving up new ones and killing their final hope of benefiting from loyalty programs.

Community-driven smart shopping

Club LiqBon™ is the open community of honest sellers and motivated buyers.

We are not shopaholics, but buyers who no longer want to spend extra time and money on shopping. We help each other to buy smarter, cheaper, and faster. The main focus is made on simplicity and awareness. Perhaps these are the main properties encouraging users to keep using our open reward ecosystem.

We always think of the same: "where is it better and more convenient to buy". Usually, the answer is through offering aggregators, marketplaces, booking sites, and similar sources. But few people think about the fact that marketplaces and retail aggregators compile their offers according to their own rules, first showing users what is the most profitable to them. At the same time, far from all sellers and suppliers can be represented there for various reasons.

Club LiqBon™ enables direct frictionless interaction between buyers and suppliers (manufacturers) without going through intermediaries. Over time, this cooperation shall improve and consumers will be able to get products and services bypassing numerous dealers, forming an independent user-driven rating for every single supplier or manufacturer.

Simplicity and efficiency are also important for those who offer goods and services, ready to serve more customers than there are today, but find it difficult to attract them. The ability to easily and inexpensively acquire new customers is essential for small businesses that can value and serve their customers like no one else. But sometimes they lose the competition due to their limited opportunities for promotion of their products and services.

Club LiqBon™ is a great free way to establish direct contact with a motivated buyer, without making a lot of effort. An important part of the user interface is an interactive map where you can easily find a place for your retail outlet, farm, cafe, apartment for rent, car service, and even melon sales working only 1-2 months a year. This information, together with the current offer of the day, will be always at hand for buyers and customers with Liquid Bonus™ Pouches. Attract new customers with your great deals, bonus rewards, and great mood.

While getting shopping fun, we share our pleasure with the community and every new purchase becomes smarter and nicer.

LiqBon™? LiqBon™... Liquid Bonus!

Down with stereotypes! Now you can easily supplement your loyalty program with a customer acquisition program for nothing!

The Liquid Bonus LiqBon™ reduces the cost of attracting new customers to an all-time low. Effective low-cost customer acquisition have turned into reality, thanks to LiqBon™.

Yes, of course the Liquid Bonus is not a loyalty program that works exclusively for any seller and is beneficial only when the marketing budget for it reaches a certain level. LiqBon™ is a mean of attracting customers and it does not require usually valuable investment. This is a method with a set of ready-made tools that allows you to effectively work not only with regular customers, but also with any customers who appear in the region at least once.

The Liquid Bonus LiqBon™ breaks stereotypes

The retail world is filled with numerous points and miles. Faced with overwhelming market saturation with loyalty programs, once cunning marketers have implemented direct cashback (paybacks for purchases), which has become a veritable parody of modern customer acquisition and retention programs and pulled retail players into the abyss of price wars.

Drawn into the "loyalty games", sellers and buyers have completely forgotten that value is always on the side of the consumer. After all, the buyer's activity and the ability to make things paid is the main market value. But it was retailers and their coalitions that usurped the means of rewarding, although they produce nothing than service.

Indeed, the loyalty program owner always reserves the right to change the rules of use and value of incentives, and in many cases does not hesitate, at its discretion, to reset the buyer's bonus account. Also, retail chains having the most comfortable position to communicate with consumers often screen out manufacturers and suppliers, preventing them from developing direct relationships with consumers and capitalizing on such opportunities.

We have invented the Liquid Bonus LiqBon™ and released it for free circulation as the world's first universal and independent incentive tool that works equally well for the benefit of all users, from buyers and small traders to large manufacturers and international retail chains.

While this new reward ecosystem called «Club LiqBon™» is in its infancy, we hope that through the user community it will become a reliable and mature service capable of eliminating much of the existing injustice regarding the accrual and write-offs of bonus points and miles.

Join us and we will do it all together!