The open loyalty economy: How Web3 creates value for customers and brands
Loyalty programs have long been a staple of customer retention for major brands. However, many suffer from lack of usage, resulting in billions of dollars in lost value from unused points and frustrated customers. Web3 technologies like NFTs and tokenization are beginning to potentially disrupt traditional loyalty by putting control back in the hands of […]
Two-way sensation Ohtani’s jersey encapsulates special season
Shohei Ohtani’s game-worn jersey in June, 2023 recently fetched an impressive $60,200 at auction (sold on the MLB Auction Marketplace, powered by Commerce Dynamics) the highest price paid for an Angels jersey this season. This was no ordinary jersey, it encapsulated a remarkable chapter in Ohtani’s historic two-way campaign. In the tie between the Cubs […]
Formula1 (F1) Marketplace: the art of compelling storytelling
The importance of compelling storytelling in an online Marketplace cannot be overstated. While product information is essential, it’s the stories that truly connect with customers and create a lasting impact. F1 Authentics, the official F1 memorabilia Marketplace, excels at using compelling storytelling to deeply engage fans. Their strategic approach holds key insights for marketplaces seeking […]
Loyalty points directed to timely charitable causes- Hawaiian Wildfires
As we’ve already highlighted – and will continue to discuss on our blog – many brands are integrating charitable donations into their customer loyalty programs and Sports Marketplaces. This makes it easy for loyal customers to give back to causes they care about. Hawaiian Wildfire Relief: Southwest Airlines recently ran a campaign encouraging its Rapid […]
The role of Experience-based Marketplaces in Hotel co-branding
Co-branded hotel credit cards offer consumers exclusive benefits and rewards tailored to the brands they love. According to a recent Auriemma Group study, these specialized perks – especially experience-based rewards – inspire hotel card acquisition, usage and loyalty. The study found that 60% of credit cardholders say experience-based benefits make them more interested in applying […]
Embracing personalization in Loyalty Marketplaces to drive customer engagement
“Static offers aren’t working anymore. Personalization is taking over, and brands need to embrace the idea of developing a living loyalty profile to drive positive experiences and emotional connections.” Not our words, but that of Adrian Trzaskus of Deloitte, made during a discussion on current customer loyalty industry trends. One way that brands can deliver […]
Fueling engagement in loyalty programs
Loyalty programs are key to customer satisfaction and retention. Yet despite this, consumers around the world have notched up $48 trillion in unspent loyalty points. So what’s the solution? We think that offering creative new ways to earn and redeem points is key to maintaining an active, engaged membership base. By getting innovative with point […]
Innovative redemption: How auctions and group-buying transform loyalty
Customer loyalty is a coveted but increasingly elusive outcome for brands. Loyalty programs have long been a cornerstone of customer retention, but with over half of all loyalty memberships in the US now inactive, it’s clear that traditional approaches need a shake-up. Brands that want to stay relevant must offer new ways for customers to […]
From frustration to fulfillment: The role of redemption marketplaces in loyalty programs
It’s said that the “only true mistake you can make with your rewards is to let them expire.” But allowing loyalty points to expire is not only bad news for members, but brands too. When loyalty points expire, it can lead to customer dissatisfaction, reduced loyalty, lost revenue for the business, and a negative brand […]
The MiLB Marketplace growth story
In recent years, the concept of ‘networked’ Marketplaces has become a game-changer across various industries. These Marketplaces represent a shift towards interconnected ecosystems where multiple stakeholders come together to create value. A prime example of this transformative approach can be witnessed in the remarkable growth story of the Minor League Baseball (MiLB) Marketplace. At the […]
