What the innovations of Web3 mean to future loyalty practices
The world of loyalty is changing. Burgeoning technologies, shifting customer values, and an unprecedented global pandemic all demand that businesses reconsider what loyalty means, what role loyalty should play in business strategy, and how to create sustained loyalty.
This year, Loyalty Science Lab will be taking a close look at the future of loyalty. From new strategic models of loyalty engagement, customer loyalty calculus across channels, to the role of empathic AI and voice interactions, we aim to stimulate discussions around where loyalty will be going from here.
As part of that conversation, we are excited to share this Reenvision Loyalty Series. It will feature commentaries from the Loyalty Science Lab’s advisory board members, affiliated researchers, and other loyalty experts on how they envision the future of loyalty.
In the first article of this series, we feature a commentary by one of our advisory board members, Stewart Pearson, Chief Strategy Officer of Real Engagement and Loyalty and Founder of the Consilient Group. Stewart is a global leader in digital, data, and relationship marketing, recognized for his innovation and experience in global marketing and enterprise-scale client engagements. We particularly admire Stewart for his depth of thinking and the ability to see the big picture ahead of others. So without further ado, here is what Stewart has to say about Web3 and the future of loyalty.
We are at the start of an exciting paradigm shift in technology, driven by a new generation of applications collectively described as Web3.
Observers see the impact as beyond technology, and Finance, Business, and Economics, all aspects of society. Listen for example to “Web3 and the Future of the Internet”, a conversation between Aaron Levie, the CEO of Box, and Alex Kantrowitz, host of the Big Technology podcast.
The exemplar innovations of Web3 are the Blockchain, Cryptocurrencies, DeFi, NFT’s, and DAO’s representing a febrile stew of ideas and opportunities, still nebulous and undefined. Their unifying idea is of a trustless, decentralized internet, with rewards distributed transparently among any…