At meed, we believe Web3 has a vital role to play in the future of customer engagement. In fact, we believe it will be the most transformative technology we have ever seen for how consumers interact with brands and regain sovereignty over their data.
However, we also understand that:
People don’t live in silos. People who who buy NFTs also drink coffee, buy food to eat in and out, and need clothes if they are going to walk out of their house in public.
Web3 is a technology. The world does not need to be more educated about it than they needed educating about JavaScript. Instead, products should incorporate this technology, making a better product to solve a real-world problem.
Leading with “Web3” is not the best way to build an infrastructure of endpoints. Instead, these endpoints should be built into solutions that people already use or that they will use because, referring to the previous point, they solve a problem that they have.
As a consequence, meed’s Web3 strategy is divided into three distinct areas:
Create an infrastructure of decentralised endpoints as the use of meed grows, aiming to eventually evolve into a decentralised identity solution and a single point of entry for consumers’ loyalty memberships.
Engineer our engagement engine to attribute all activity, whether in a shop, online, on social media or in Web3 ecosystems, back to a single customer and create and distribute rewards across all channels.
Later, with the distribution of infrastructure, a token is introduced as the means of exchange within the platform and as a means by which all participants can own a stake in the network.
Here is a summary of how we will tackle the three areas.
Evolving a Web3 Loyalty System Into Decentralised Identity
The first component of meed's Web3 strategy involves embedding a Web3/blockchain layer into the platform. This layer ensures that every programme operator and member—a business or a customer—is issued a wallet address in the system. The process is seamless: when a customer scans a QR code in a shop and joins a meed-powered programme, a wallet is created for them. Growth in wallet addresses is driven by meed’s role as a single platform for many loyalty programs and their members.
We are not selling Web3. We are incorporating it.
We firmly believe that decentralised identity systems will become increasingly prominent as they give consumers greater control over their personal information. But genuine real-world acceptance and understanding will take time. Hence, we want to execute a strategy aligned with the real world rather than a more degenerate approach that might sound sexy but achieve little.
The “distribute now, activate later” approach led us to nickname this our “Skynet Strategy.” As decentralised identity gains traction, consumers will realise they already possess a solution within their meed account. They can manage their digital identities and control their data, eliminating the need for third-party intermediaries.
meed Loyalty Engine (mLE)
The second component, the meed Loyalty Engine (mLE), is designed to listen to engagement across various channels, including physical stores (bricks and mortar), eCommerce (Web2), and blockchain activities (Web3). By consolidating these interactions under one customer ID, meed provides a unified view of customer behaviour.
A unified view is crucial in understanding customer preferences and behaviour patterns. meed’s core premise is that loyalty is failing because it creates silos around either the business or the channel (such as Shopify or Web3), which means the consumer has an overwhelming number of membership credentials and unwanted apps. Thus, we want to build around the consumer while providing merchants and businesses with a superior solution to construct their ideal loyalty solution on the platform.
Real people engage in diverse activities such as buying coffee, clothes, food, and even staking tokens. mLE captures this complexity, offering businesses a comprehensive loyalty solution. It allows them to understand their customers better, create personalised rewards programs, and drive increased engagement.
Token Launch
The third component of meed's strategy is the eventual launch of a token, which will serve as the primary means of exchange across the platform. However, we do not intend this token to be a universal loyalty reward. Instead, each business within the meed ecosystem will operate its own loyalty programme. This distinction ensures that while the token facilitates transactions, it does not homogenise individual businesses' unique rewards and incentives.
The token will provide several benefits to businesses and customers. It will enable seamless transactions, reduce platform fees, and allow for the creation of new and innovative loyalty programs that work without the need to mention that a layer of the platform is built on blockchain. Additionally, it will foster a sense of community and ownership among meed users and function as a gating and tiering mechanism for platform participants.
Current and Future Benefits
meed's Web3 strategy addresses immediate customer pain points and lays the groundwork for future advancements. Currently, customers struggle to manage multiple loyalty memberships. meed consolidates these memberships into a single platform, simplifying the user experience. For businesses, meed provides a superior loyalty solution, moving them away from outdated printed stamp cards to a digital, blockchain-integrated system.
In the future, meed will enable new and innovative loyalty programs. For example, we will be able to gamify the platform's use and reward customers for contributing to its growth. Additionally, meed's decentralised identity system will allow customers to control their data and engage with businesses on their terms.
Final Note
meed's Web3 strategy is a multifaceted approach that integrates blockchain technology into its platform to enhance customer and business experiences in the future. By adopting the Skynet Strategy, implementing the meed Loyalty Engine, and planning a token launch, meed is positioned to revolutionise the loyalty programme landscape while never losing track of the core problem we solve: the mass of fractionalised loyalty memberships that consumers are forced to contend with. This strategy addresses current challenges and anticipates future trends, ensuring that meed remains at the forefront of digital innovation on loyalty and customer engagement.
About meed
meed is the single platform delivering the loyalty people want while providing enterprise-level performance for businesses. We redefine customer engagement, challenging traditional loyalty programs.
With meed, businesses can drive growth and strengthen customer connections effortlessly through app-free functionality, real-time engagement, and top-tier security. Our rapid deployment of cutting-edge tools ensures businesses stay ahead with future-proof technology. meed sets new standards in customer retention and loyalty, delivering exactly what consumers desire.
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