The SRN is the STARROYALTY NETWORK Reward System for Referral, Recognition and Loyalty program. The “Royalty” in the SRN means every user is treated like royalty. It also means that content creators automatically receives royalty for the usage of their creations. SRN is a hybrid system for a point based digital coin, gift and loyalty program where the points are based on STARU Coins and / or Tokens. The reward system is broad based as follows.
★ The STARSMARKETPLACE reward Points to its vendors and consumers, and use Points to engage them in numerous activities.
★ Vendors in the marketplace can reward their customers with points or tokens to engage them in various activities, for example, advertise on the platform to attract customers by giving discount coins, etc. They can gift their customers with virtual or physical gifts.
★ Customers can reward and gift their friends (fans) or idols with points, real or virtual gift convertible into coins. They can even encourage merchants (or other content contributors) for their good work or generosity, for example, donate with coins to vendors or fellow contributors on the platform for free tutorials or content.
When a user signs up, he or she will automatically receive a STARU Wallet containing free and bonus points plus airdropped coins to let him or her spend on the regular Web and Blockchain platform.
A reward system is important and is a form of gamification that:
➔ Drives consumers to our network via referrals and recommendations
➔ Enables the network to go viral by driving up traffic
➔ Prevents customer attrition or switching to other competitors’ platforms
➔ Provides user analytics, providing invaluable insights into consumer preferences
➔ Drives up incremental spending
➔ Enables Up-Selling & Cross-Selling
➔ Increases Share of wallet (SOW)
➔ Increases customer demand
➔ Encourages sharing to grow the community
➔ Increases repeat visits from repeat customers with repeat purchases
➔ Improves branding and reputation
➔ Incentivize spending
➔ Builds up loyalty
➔ Drives up business activities with increased profits for vendors
➔ Improves Customer Experience. Creates a dynamic and vibrant environment to attract even more users
➔ Reward Users for creating content and taking up challenges
➔ IP [Intellectual Property] Protection & Incentives For Creativity, that is, automatic Royalty
➔ Increases the use of our Coins or Tokens
In terms of gamification, the reward system should incorporate elements, including challenges that makes it
❏ Creative, Fun and Exciting
❏ Build Up Tension
❏ Create Time-based Constraints
❏ Create a Sense of Urgency
❏ Inspire, Motivate and Reinvigorate
❏ Instill Pride & Stature for Achievements
❏ Serves as Recognition
Rewards & Loyalty Program
Companies can easily sign up at the click of a button to participate in the loyalty program on the Marketplace.
This will be a unified system for the global market with rewards based on points and coins.
The reward system is seamlessly integrated to the main platform and into the users’ Wallets and Profiles. Redemption is easy and can be even done automatically.
Rewards & Loyalty Management Suite
Merchants can set up their rewards system easily at the click of a button. They will receive a rewards management suite of software to set up their rewards system, including sales and promotion campaigns, point management, budget, set polls, quizzes, contest and games, tracks referrals, receive reports and analytics, etc.
The system will be highly intuitive aided by the AI system which among other things, easily makes recommendations for their customers. Users will have their own set of software to manage their rewards. All this will be integrated to the Wallet.