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Is it time for marketing to reappraise B2C relationship management? The emergence of a new loyalty paradigm through blockchain technology

Author

Listed:
  • Horst Treiblmaier

    (Modul University Vienna)

  • Elena Petrozhitskaya

    (Modul University Vienna)

Abstract

Blockchain technology is predicted to become a powerful driver of marketing transformation. At present, most envisioned use cases are in an early stage with an uncertain industrial impact and an immature theoretical integration in academic research. To help close this research gap, we investigate how blockchain-based loyalty programs transform B2C relations through innovative customer services that bear important properties of a sharing economy. Specifically, we identify five potential advantages of blockchain-based programs over traditional loyalty programs pertaining to usage, accrual, relevance, expiration, and transferability. We then apply expectancy theory to assess consumers' perceptions in two empirical studies, both of which reveal an overall preference for blockchain-based loyalty programs over traditional models: an analysis of 5,059 Twitter tweets detects more positive feedback for the blockchain-based program, and a survey of 206 consumers reveals a significantly more positive attitude toward the blockchain-based loyalty program with respect to accrual, relevance, expiration, and transferability.

Suggested Citation

  • Horst Treiblmaier & Elena Petrozhitskaya, 2023. "Is it time for marketing to reappraise B2C relationship management? The emergence of a new loyalty paradigm through blockchain technology," Post-Print hal-04521356, HAL.
    • Handle: RePEc:hal:journl:hal-04521356
    DOI: 10.1016/j.jbusres.2023.113725
    Note: View the original document on HAL open archive server: https://hal.science/hal-04521356
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    References listed on IDEAS

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    Keywords

    Expectancy theory; Blockchain; tokens; Tokenization; Loyalty; Loyalty Programs; Marketing;
    All these keywords.

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