Polygon collaborates with Salesforce for NFT based loyalty programme
Businesses may profit from these loyalty programmes. Around 40% of a company's income might come from repeat clients.
Ryan Wyatt, president of Polygon Labs, announced a partnership between layer 2 blockchain platform Polygon and customer relationship management (CRM) software provider Salesforce for an NFT-based loyalty programme.
Salesforce's management platform will let its clients set up loyalty programmes based on tokens at Polygon, according to a tweet from Wyatt on Thursday. See the tweet that follows.
The information was released shortly after the business software behemoth announced on March 15 that it was expanding its client services to include the administration of non-fungible token (NFT) loyalty schemes.
With your CRM, track real-time blockchain data from launches on Ethereum and Polygon, according to Salesforce's Web3 platform website. A request for comment from Salesforce was not immediately answered.
Also read: Why NFTs are Bad for the Environment
Businesses may profit from loyalty programmes. According to research from Smile.io, a rewards program provider, recurring customers may produce about 40% of a business' income, according to research from Smile.io, a rewards programme provider. After all, a repeat client has made at least two transactions while on the website.
Interestingly, when a consumer makes more purchases from you, the likelihood that they will do so again improves. A client has a 27% likelihood of returning to your shop after making one transaction. Even while it's not a terrible return rate, you have a 54% chance of convincing the consumer to make a second and third purchase if you can persuade them to return.
The key is being careful with how you tempt them. You may wonder how you might motivate your consumers to make that second or third purchase. While you would believe that offering a discount on the following order is a terrific method to entice a consumer to buy from you again, you should really exercise caution when using this strategy. Discounts work well to win back clients, but they virtually always leave them with unmet expectations that you might not always be able to meet.
When they receive a discount, they either come to expect one every time or wait for one before making another buy. Instead, we advise employing sustainable retention strategies like these to get visitors to return to your website.
Blockchain technology have been employed more often in recent years to reward loyal consumers and increase customer engagement. For instance, BlockFi and Gemini declared they will provide credit cards with bitcoin benefits. Under its startup engagement initiative in 2022, Mastercard provided assistance for Upstart, an NFT-based loyalty programme.
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