Wise Marketer, Bakkt and The Loyalty Academy release 2022 Delphi Report™: The Future of Crypto Rewards.
GLOThe Delphi Report key takeaways:
Uses Cases: Delphi Panelists were split on one dominant use case for crypto rewards in the future. 44% felt that crypto rewards were flexible enough to be applied to all use cases identified. 21% saw use as both an earning and redemption strategy. Solo redemption option and solo earning was selected by 15% each.
Crypto tactics: Redeeming points for crypto was the preferred mechanism (71%). Earning tactics for both the financial services sector and the online/offline merchant sector received some support as a replacement for current points issuance value propositions (42%). The use of crypto as an earning mechanism for other behaviors – offer acceptance, providing zero party data, referrals, advocacy, etc. was viewed as a logical tactic for the future (65%).
First sectors likely to adopt: Multi-merchant, financial services and entertainment were highlighted as likely first movers to adopt crypto rewards.
First geographies likely to adopt: The Asia Pacific region (Australia, New Zealand, India, Asian Markets) was predicted to be the most likely to adopt crypto as a future strategy (44%), followed by North America (27%), the largest crypto market in the world and then by Middle East (14%).
First generations likely to adopt: Younger generations are assumed to be first likely adopter, but Gen Z (83%) overtook Millennials (78%) as perceived early adopters despite their lack of spending or loyalty membership today.
Will offering of crupto rewards be critical to deliver “halo” effect to brands: The majority were uncertain (55%) on assigning positive “halo effects” back to any adopting brand.
80% of the respondents indicated that their consumers are not asking for crypto rewards currently.
