Marketers spend money acquiring customers, and then hope to monetise them on their properties (website and app). This is easier said than done because unless marketers are able to imprint their brand on the consumers subconscious, they face a continuous battle to bring them back for transactions. This is done through a process called engagement: messages pushed to our already flooded inboxes, along with nudges and recommendations when consumers clickthrough. The problem is that as consumers we are numb to all these exhortations and ignore the incoming offers. This “attention recession” has serious consequences for marketers – because if we don’t open and act on their emails, SMSes, and push notifications, they have little choice but to retarget us on the Badtech auction platforms spending even more money to reactivate their relationship with us.
For the past decade or so, almost nothing has changed in the push channels. And now, almost suddenly, a triad of innovations is creating excitement: emails can become interactive thanks to a technology called AMP, WhatsApp (popular in many countries) has allowed for brands to interact with customers, and Atomic Rewards can offer gamified micro-incentives to encourage attention and the sharing of personal information (also called zero-party data). AMP, WhatsApp and Atomic Rewards can thus drive inbox engagement and action funnels closer to consumers. AMP and WhatsApp can even replace apps – and combined with the advantage of ‘push’ give marketers control to initiate conversations which can lead to conversions.
Atomic Rewards is the icing on the cake. Instead of paying Badtech, brands can pay their customers. This is Loyalty 2.0, moving beyond the transaction to incentivising and gamifying the upstream (attention and data) and the downstream (ratings, reviews and referrals). This manifestation as Web3 tokens will ensure no single entity will be able to devalue the points earned. Atomic Rewards can drive a circular economy between brands and customers: more actions lead to more tokens for customers, which in turn makes brands value them even more. These rewards can then be exchanged for unique experiences or fiat currency.
AMP in email, WhatsApp and Atomic Rewards convert the unidirectional push channels into two-way rich interactive hotlines, thus finally enabling marketers to bridge the chasm between new customer acquisition and attracting traffic to their properties. Hotlines are thus the gateways to building deep and lasting relationships, a win-win for both brands and customers.