A new platform is using Blockchain to make smart marketing programs affordable and practical for small and medium-sized businesses.
Gagapay Network says word-of-mouth marketing is one of the most powerful tools around for establishing a loyal base of frequent customers – with research by Nielsen suggesting 89 percent of shoppers trust recommendations from people they know above everything else.
Despite this, the start-up argues that too few companies are embracing this technique – often because they have no understanding of which strategy will yield the best results or lack the time and manpower to manage and track a program.
In its white paper[1], Gagapay Network cites Webprofits research that suggests 75 percent of companies find referral programs to be the lowest-cost method of attracting new clients, with 78 percent claiming they are “more loyal than other customers.”
The company plans to blend affiliate, referral, network marketing, loyalty and bounty programs in one place on a SaaS platform powered by smart contracts and the NEO Blockchain, and hopes this will remove the barriers to entry which are denying fledgling businesses the growth they deserve.
Targeting Blockchain and non-Blockchain businesses
Gagapay Network[2] illustrates the power of referrals with the example of Dropbox. The start-up says the cloud storage behemoth enjoyed a 60 percent increase in sign ups when it began to give free space to customers who were referred to its site – as well as the people who referred them. Meanwhile, affiliate programs have worked wonders for Amazon[3], which had 180,000 websites promoting its products as of 2017.
Both Blockchain and non-Blockchain businesses are going to be targeted by Gagapay Network, which plans to offer three tiers of membership to appeal to enterprises of all sizes. The start-up says its system, which
