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SUBAJ lets customers redeem loyalty rewards points at any merchant store within SUBAJ Global Network

The issues with the present loyalty reward points system—The customer angle

You have recently joined a fitness club. As a token of appreciation, the fitness club gives you loyalty rewards points that you can redeem at the club for getting enhanced services and discounts in the future. It is a tremendous promotional initiative. However, you look back and reflect that you have to use the services of the club to get the benefit of these loyalty rewards points. It entails spending more money to avail of these rewards. When you spend more money, the fitness club gives you more rewards points for redemption. It becomes an endless cycle. The point we wish to highlight is that you cannot use these reward points to buy something else, say a pizza. As a result, you forfeit the points. It does not benefit you at all.

The issues from the merchant angle

Similarly, the merchant giving you these rewards points has to incur a lot of expenses on promotion, marketing, bank fees for processing payments, and so on. There is tremendous competition in the market with hundreds of other merchants having their rewards points programs. The merchant benefits if customers redeem the points. Now, due to the lack of alternative options, over 70% of the customers choose not to redeem these points. Therefore, the present loyalty rewards points system does not benefit the merchants either.

The Solution

The solution lies in listing your business on a mainstream shopping and rewards app with a tremendous user base backed by thousands of merchant establishments. In effect, you have fitness centers, pizza corners, hairdressing salons, stationery shops, and so on under a single banner. The benefit of such a system is that you should be able to exchange or redeem the rewards points gained from one merchant establishment at another merchant on the same shopping app. Customers benefit because they get the discount they are entitled to, and the merchants benefit because they get their share of the profit on redemption of the rewards points. Merchants garner a more extensive client base as this app encourages the customers to redeem the rewards points at any location within the app. The merchants work out a profit-sharing formula under such circumstances.

Is this system workable?

The solution seems to be a great one, but is it feasible? Yes, it is. The SUBAJ app makes it possible. SUBAJ aims to bring a real value backed loyalty program to the customers every time they shop on the network. As of now, the loyalty rewards points the customers earn are only bits of paper. They have no real value unless you redeem them at the specific location. SUBAJ aims to revolutionize the process by making these rewards points redeemable at all member establishments on the SUBAJ Global Network.

How does SUBAJ manage it?

Instead of the merchants providing rewards points to the customers for redemption, they give SUBAJ tokens. SUBAJ tokens offer a real tradeable asset to the customers for free. SUBAJ has plans to build the biggest global shopping network of retailers, businesses, merchants, and companies (both offline and online) thereby enabling the customersto enjoy the benefits whenever they shop on the network. The customers can easily exchange the SUBAJ tokens earned from one transaction for products and services at another location on the same system. For example, an airline company offers air miles in the form of SUBAJ tokens. The customers need not fly again on the same airline to reap the benefits. They can easily exchange the tokens at an apparel shop and buy the dresses they want. Similarly, the customers can use the SUBAJ tokens earned at the restaurant to pay for their airline tickets. This flexibility of exchange of rewards points is a novel idea that SUBAJ aims to bring to the loyalty rewards market.

The SUBAJ app will be ready for commissioning in July 2019. They propose to use the latest technology of blockchain, augmented reality, artificial intelligence, geodrop technology, and social gamification to provide a new experience to the customers. This SUBAJ app aims to connect millions of merchants, businesses, and customers on a single platform. In a way, it is going to be a revolutionary initiative in which all parties to the transaction benefit in one way or the other.

To find out more, visit https://subaj.com/

Read the white paper here.

Media Contact:

Name: Adebayo Surakatu
Email: [email protected]
Website: https://www.subaj.com/
Telegram: https://t.me/subajofficial

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