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Earn 6.9% APY staking with Solana Compass
Help decentralize and secure the Solana network delegating your stake to us and earn an impressive 6.9% APY yield on your SOL, while supporting us to create new guides and tools.
Breakpoint 2023: Big Boba Energy - On-Chain Loyalty with Boba Guys
Boba Guys introduces a novel on-chain loyalty program leveraging Solana blockchain, transforming the loyalty ecosystem for their customers.
During Breakpoint 2023, Boba Guys, a popular boba tea retailer, unveiled a groundbreaking on-chain loyalty program developed in collaboration with Solana. Founders and CEOs Bin Chen and Andrew Chau discussed the motivations, technological marriage, and early success metrics of their next-gen customer loyalty venture. What propels this loyalty program into the forefront is its strategic use of blockchain technology to not just reward purchases but deeply integrate customers into Boba Guys' community. This pioneering approach indicates the potential for a shift in customer engagement across retail sectors.
The Inception of Boba Guys On-Chain Loyalty Program
Boba Guys' journey into blockchain pivots on their desire to lead in innovation. Traditionally focused on sustainability and fashion-oriented branding, they sought to extend their pioneer spirit to their customer loyalty strategies. Moving past the limitations of a physical punch card, they considered but dismissed the development of a native app due to high costs and maintenance. The pivot to a web-based loyalty solution came with the advent of Progressive Web Apps (PWAs), with Solana’s blockchain technology offering the scalability, speed, and affordability Boba Guys required.
Benefits and Results of the Pilot Program
Since the on-chain loyalty program's five-week pilot in San Francisco, Boba Guys reported tremendous adoption rates and increased customer spending. Over 600 users joined the program organically, and loyalty orders comprised 31% of total orders at the pilot location. Moreover, customers in the loyalty program visited more frequently and spent significantly more, evidencing a successful penetration into customer habits. An impressive 800% return on investment further cemented the program's value to both Boba Guys and its customers.
Future Plans and Potential Features
Excitement surges as Boba Guys prepares to expand this loyalty program to all their outlets in San Francisco, New York, and Los Angeles starting on Black Friday, labeled 'Big Boba Friday'. Future features hinted by Chau include token-gated experiences, secret menu items, collaborations with other brands, badges, discounts, and potentially integrating payments into the platform – all enabled by blockchain technologies.
Facts + Figures
- Boba Guys coined the next-gen loyalty initiative to be 'Big Boba Energy'.
- They announced an 800% ROI on the loyalty program during the pilot.
- The Solana-based program saw a 31% transaction rate through the loyalty app.
- Customers increased their visit frequency by 67% after joining the loyalty program.
- The loyalty program also resulted in a 65% rise in spending by members.
- They have 24 stores across San Francisco, New York, and LA, all set to implement this program.
- The big rollout for the loyalty program is slated for November 24, 2023.
- A notable user had returned to Boba Guys after over a year due to the new loyalty program, visiting 22 out of the last 29 days.
- "We always wanted to build a little tea app for the longest time. But it's always really expensive."
- "We have token gated access to secret menu items. We have access to events."
- "Every three out of 10 people have signed up for the program already."
- "Someone that was spending $15 a month is now spending $25 a month."
- "Secret menu items, like that's kind of hard to pull off. Like you can't like whisper to someone that we have a secret menu, you actually have to do it through the app."
- "Thank God the early stats have really showed us. So we've seen 800% ROI."
- "Someone that's coming in every three weeks or so. Now they're coming in two and a half times a week."
- "Now they're [a returning customer] coming in every single day."
- "Bringing them back [customers] in a really compelling way."
- "We're also thinking about payments."
Why did Boba Guys choose to create an on-chain loyalty program?
Boba Guys, known for being at the forefront of innovation, wanted a loyalty program that reflected their pioneering spirit. A traditional native app was prohibitively expensive, making the blockchain-based Solana platform an attractive solution because of its cost-effectiveness, speed, and modern capabilities.
What are the benefits of Boba Guys' loyalty program so far?
The new loyalty program showed promising early results with a remarkable value proposition, evidencing increased customer visits and spendings, such as a 67% lift in monthly visits and a 65% increase in customer spend per month. The program also enjoys a high adoption rate and boasts an 800% return on investment.
How does Solana’s technology enhance the Boba Guys' loyalty experience?
Solana provides a fast, cost-effective, and interoperable blockchain platform that allows for innovative loyalty program features like token-gated menus and events, as well as potential for future payment integration. Users can experience a next-gen loyalty system with personalized and exclusive incentives.
When will Boba Guys roll out their on-chain loyalty program?
Boba Guys plans to implement the on-chain loyalty program across all their locations in San Francisco, New York, and Los Angeles on November 24th, 2023, which they have dubbed 'Big Boba Friday.’
How has blockchain technology affected customer habits for Boba Guys?
The blockchain-powered loyalty program has successfully engaged customers, turning casual visitors into regulars. As demonstrated by the pilot results, such technology allows customers to experience new products, earn rewards more frequently, and engage with the brand in a more meaningful way.
- Key Points:
- Facts + Figures
- Top quotes
- Why did Boba Guys choose to create an on-chain loyalty program?
- What are the benefits of Boba Guys' loyalty program so far?
- How does Solana’s technology enhance the Boba Guys' loyalty experience?
- When will Boba Guys roll out their on-chain loyalty program?
- How has blockchain technology affected customer habits for Boba Guys?