Phase 4: Web3 Scale-up (Jeni)
Jeni has just taken over as CEO at the newly rebranded A1 SuperStore. She credits the success of the Mu initiative as helping her reach the apex position. Mu helped A1 Books build a huge customer base. Jeni’s email innovations with Netcore and Mu helped build a huge fan following. Open and engagement rates for emails from A1 Books were off the charts. With existing customers powering A1 Books, profits had soared because the AdWaste had been eliminated. The hotline had helped drive exponential growth, which had given A1 Books the ability to expand into a wider array of merchandise. The omnichannel experience had also been uniquely crafted – with the XRTs of A1 Books becoming widely coveted. The only way for customers to get the XRTs was by moving spending to A1 Books. A1 Books grew with the simplest (and most forgotten) in business – get your customers back for more, and make sure they get their family and friends. The Mu Rewards program with its points and tokens was at the heart of A1 Books’ (and Jeni’s) growth.
MuCo’s Web3 transition has worked out very well. Jeni has put in place a program for periodically purchasing Mu from the Exchange. The price is set by the interactions between the participants. MuCo has put a transparent program for the sale of Mu to ensure that the price inflation is not substantial. (Of course, its own $MUCO token has risen in value very fast as the usage of Mu has expanded dramatically through the years. Jeni had made a small investment and it’s worth a nice amount now.)
Jeni is preparing for a keynote on “How Mu Power Propelled A1 Books” at an online marketing summit. She mentally checks off the key points: how Mu filled in an existing gap in the time-based loyalty marketplace; how it had combined the four emerging marketing trends (Martech 2.0, VRM, Email 2.0 and Loyalty 2.0); how MuCo’s focus on attention and data helped brands cut their dependence on rapidly rising ad spends at Google and Meta properties; how A1 Books drove many of the early innovations in the Muniverse – omnichannel expansion, use of QR codes linked to Mu in the offline world, XRTs linked to customer lifetime value; and, how A1 Books created a transactions-linked loyalty program with Mu. She had been prescient to spot the potential of Mu early on, and had leveraged the partnership with Netcore and its CPaaS and Martech platforms to personalise Mu first in the emails, then in SMS, WhatsApp and push notifications, and later on the website and app. Mu had helped A1 Books build a data flywheel: the more the customer actions, the more the data Mu collected; AI engines then used the data for better personalisation and recommendations which in turn drove more customer actions. Mu had levelled the playing field for a small player like A1 Books to rise above competition and had helped drive its expansion into offline and now beyond books.
Jeni jotted down a few ideas of her hopes for the Muniverse for the future which would help brands like A1: how would Mu work in the metaverse, how Mu could be the single loyalty program to replace all loyalty programs (even the highly popular airline frequent flyer programs where customers still had to deal with expired points, blacked out dates which made use of the earned points difficult, and the inability to transfer and gift points), and how MuCo could help with new customer acquisition (still a significant Big Tech spend). The Muniverse had come many miles, but it still had many more to traverse to make the brand-customer relationship even better.