This press release was published on Publish0x on behalf of clients.
In any business engagement, customers are king. Without them, it flounders, and everything that project founders had in mind collapses.
For this reason, advertising and brand development is a billion-dollar industry. Businesses across the world are always striving hard, eager to gnaw market share from dominating megaliths or, better still, establish themselves and cement their place.
A Digital Presence is Crucial
The coronavirus pandemic revealed firsthand why businesses must have their presence in the physical and digital worlds. This flexibility gives them an edge, an advantage that can mean staying afloat in perilous times or painfully folding.
The powers of digitization can be harnessed to benefit businesses and clients. This is especially so because the blockchain has brought so much capability and leveraging entities have an advantage every time they tap into exciting features only available in distributed ledger technologies.
Libra Incentix is what Businesses Need
Libra Incentix has already identified the blockchain's benefits, especially in branding, technology adoption, efficiency improvement, and promoting engagement.
At its core, Libra Incentix is a Software-as-a-Service platform whose developers are experts in digital transformation, change management, and brand loyalty. Their primary focus is on the multi-billion rewards industry.
1. Blockchain and Automation
The platform incorporates the blockchain to achieve its grand objectives of ensuring instant swapping of loyalty rewards on a single platform. Businesses, especially those in the internet domain like eCommerce sites, can use the platform to boost customer engagement and strengthen their marketing strategy. For efficiency, Libra Incentix integrates artificial intelligence and machine learning to reveal customers' transaction data patterns. This means the platform can suggest strategies that a business can incorporate to offer them precisely what they need.
2. Placing Businesses in Charge
Subsequently, this capability empowers online business owners to decide how their customers can earn loyalty points based on preset conditions such as spending amounts or which items they purchase.
Because they can suggest strategies and precisely determine how they want rewards distributed, businesses can create metrics that are updated in real-time. Data generated can be used to learn the target audience better. Importantly, via the execution of secure and transparent smart contracts, the predefined rules for exchange value help Libra Incentix form indisputable deals between participating merchants.
Integrating the Libra Incentix dApp on an existing point of sale system or an eCommerce platform is easy. This feature means loyalty point distribution is executed depending on business needs, and redemption is fully automated fairly.
3. Smooth User Experience
LIX loyalty points can be assigned value by the merchant distributing them, in whichever currency they chose. Consumers earning the points can cash them in through LIX, or redeem them for discounts on products and services listed in the marketplace.
By converting the point value into Libra Incentix’s native utility token LIXX, even more advantages are made available from both a business and liquidity point of view. The LIXX token will be listed in various exchanges allowing for the smooth conversion of the token for other liquid digital assets like ETH or BTC. LIXX continues to exist as a loyalty point however their redemption life-cycle is endless. As such, it will be possible for the same token to be used for multiple purposes.
Additionally, the consolidation of the LIXX token, LIX loyalty points, and deployment on the blockchain is massive in creating a frictionless user experience. How points are earned and redeemed is made even simpler via the use of dynamic QR codes. A merchant participating in the LIX ecosystem owns a unique QR code which once scanned by a customer can trigger auto-enrollment. Scanning a separate QR code can link a customer’s wallet to the wallet of a merchant, to facilitate instant transfer or redemption of points and tokens alike.
4. Saving Management Costs and Fraud Elimination
Online businesses tapping into LIX features benefit from the flexibility of determining how they can distribute their loyalty points and where they can be redeemed. At the same time, they can save costs on fraud. This is because the platform deploys on smart contracts enabled blockchain.
With smart contracts, businesses benefit from reduced system management costs that in real-time report on secure and transparent transactions. Automation through audited smart contracts and launch on a public blockchain goes a long way in eliminating errors and fraud, reducing management overhead.
Closing Thoughts
Businesses can only grow by adapting. Libra Incentix is a well-thought-out solution. It is built from the ground up to provide tools for eCommerce businesses to carve out market share while building their brand. Partnering businesses would also better engage their clients through the blockchain-based application as they build a loyal and global client base.
