IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-04521356.html
   My bibliography  Save this paper

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
    as

    Download full text from publisher

    File URL: https://hal.science/hal-04521356/document
    Download Restriction: no
    File URL: https://libkey.io/10.1016/j.jbusres.2023.113725?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Dwivedi, Yogesh K. & Ismagilova, Elvira & Hughes, D. Laurie & Carlson, Jamie & Filieri, Raffaele & Jacobson, Jenna & Jain, Varsha & Karjaluoto, Heikki & Kefi, Hajer & Krishen, Anjala S. & Kumar, Vikra, 2021. "Setting the future of digital and social media marketing research: Perspectives and research propositions," International Journal of Information Management, Elsevier, vol. 59(C).
    2. Belk, Russell & Humayun, Mariam & Brouard, Myriam, 2022. "Money, possessions, and ownership in the Metaverse: NFTs, cryptocurrencies, Web3 and Wild Markets," Journal of Business Research, Elsevier, vol. 153(C), pages 198-205.
    3. Bombaij, Nick J.F. & Dekimpe, Marnik G., 2020. "When do loyalty programs work? The moderating role of design, retailer-strategy, and country characteristics," International Journal of Research in Marketing, Elsevier, vol. 37(1), pages 175-195.
    4. Brashear-Alejandro, Thomas & Kang, Jun & Groza, Mark D., 2016. "Leveraging loyalty programs to build customer–company identification," Journal of Business Research, Elsevier, vol. 69(3), pages 1190-1198.
    5. Hoyer, Wayne D. & Kroschke, Mirja & Schmitt, Bernd & Kraume, Karsten & Shankar, Venkatesh, 2020. "Transforming the Customer Experience Through New Technologies," Journal of Interactive Marketing, Elsevier, vol. 51(C), pages 57-71.
    6. Shah, Denish & Murthi, B.P.S., 2021. "Marketing in a data-driven digital world: Implications for the role and scope of marketing," Journal of Business Research, Elsevier, vol. 125(C), pages 772-779.
    7. Krafft, Manfred & Sajtos, Laszlo & Haenlein, Michael, 2020. "Challenges and Opportunities for Marketing Scholars in Times of the Fourth Industrial Revolution," Journal of Interactive Marketing, Elsevier, vol. 51(C), pages 1-8.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Treiblmaier, Horst & Petrozhitskaya, Elena, 2023. "Is it time for marketing to reappraise B2C relationship management? The emergence of a new loyalty paradigm through blockchain technology," Journal of Business Research, Elsevier, vol. 159(C).
    2. Giang Barrera, Kevin & Shah, Denish, 2023. "Marketing in the Metaverse: Conceptual understanding, framework, and research agenda," Journal of Business Research, Elsevier, vol. 155(PA).
    3. Park, Hyejune & Lim, Rachel Esther, 2023. "Fashion and the metaverse: Clarifying the domain and establishing a research agenda," Journal of Retailing and Consumer Services, Elsevier, vol. 74(C).
    4. Yogesh K. Dwivedi & Nir Kshetri & Laurie Hughes & Nripendra P. Rana & Abdullah M. Baabdullah & Arpan Kumar Kar & Alex Koohang & Samuel Ribeiro-Navarrete & Nina Belei & Janarthanan Balakrishnan & Sripa, 2023. "Exploring the Darkverse: A Multi-Perspective Analysis of the Negative Societal Impacts of the Metaverse," Information Systems Frontiers, Springer, vol. 25(5), pages 2071-2114, October.
    5. Nawres, Darragi & Nedra, Bahri-Ammari & Yousaf, Anish & Mishra, Abhishek, 2024. "The role of augmented reality in shaping purchase intentions and WOM for luxury products," Journal of Business Research, Elsevier, vol. 171(C).
    6. Yilmaz, Tuba & Sagfossen, Sofie & Velasco, Carlos, 2023. "What makes NFTs valuable to consumers? Perceived value drivers associated with NFTs liking, purchasing, and holding," Journal of Business Research, Elsevier, vol. 165(C).
    7. Yogesh K. Dwivedi & L. Hughes & Y. Wang & A.A. Alalwan & S.J. Ahn & J. Balakrishnan & S. Barta & R. Belk & D. Buhalis & Vincent Dutot & R. Felix & R. Filieri & C. Flavián & A. Gustafsson & C. Hinsch &, 2023. "Metaverse Marketing: How the Metaverse Will Shape the Future of Consumer Research and Practice," Post-Print hal-04292610, HAL.
    8. Su, Jingqin & Zhang, Yajie & Wu, Xianyun, 2023. "How market pressures and organizational readiness drive digital marketing adoption strategies' evolution in small and medium enterprises," Technological Forecasting and Social Change, Elsevier, vol. 193(C).
    9. Anderson, Kelley Cours & Laverie, Debra A., 2022. "In the consumers’ eye: A mixed-method approach to understanding how VR-Content influences unbranded product quality perceptions," Journal of Retailing and Consumer Services, Elsevier, vol. 67(C).
    10. Federica Pascucci & Elisabetta Savelli & Giacomo Gistri, 2023. "How digital technologies reshape marketing: evidence from a qualitative investigation," Italian Journal of Marketing, Springer, vol. 2023(1), pages 27-58, March.
    11. Chen, Yanyan & Mandler, Timo & Meyer-Waarden, Lars, 2021. "Three decades of research on loyalty programs: A literature review and future research agenda," Journal of Business Research, Elsevier, vol. 124(C), pages 179-197.
    12. Johnson, Nathan & Turnbull, Benjamin & Reisslein, Martin, 2022. "Social media influence, trust, and conflict: An interview based study of leadership perceptions," Technology in Society, Elsevier, vol. 68(C).
    13. Ahn, Suhyoung & Ellie Jin, Byoungho & Seo, Hyesim, 2024. "Why do people interact and buy in the Metaverse? Self-Expansion perspectives and the impact of hedonic adaptation," Journal of Business Research, Elsevier, vol. 175(C).
    14. Matilda Dorotic & Dennis Fok & Peter C. Verhoef & Tammo H. A. Bijmolt, 2021. "Synergistic and cannibalization effects in a partnership loyalty program," Journal of the Academy of Marketing Science, Springer, vol. 49(5), pages 1021-1042, September.
    15. Wang, Guoqiang & Tan, Garry Wei-Han & Yuan, Yunpeng & Ooi, Keng-Boon & Dwivedi, Yogesh K., 2022. "Revisiting TAM2 in behavioral targeting advertising: A deep learning-based dual-stage SEM-ANN analysis," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    16. Davies, Jennifer & Sharifi, Hossein & Lyons, Andrew & Forster, Rick & Elsayed, Omar Khaled Shokry Mohamed, 2024. "Non-fungible tokens: The missing ingredient for sustainable supply chains in the metaverse age?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 182(C).
    17. Li, Sen & Chen, Yan, 2024. "Governing decentralized autonomous organizations as digital commons," Journal of Business Venturing Insights, Elsevier, vol. 21(C).
    18. Ra’ed Masa’deh & Dmaithan A. AlMajali & Abdullah A. M. AlSokkar & Mohammad Alshinwan & Maha Shehadeh, 2023. "Antecedents of Intention to Use E-Auction: An Empirical Study," Sustainability, MDPI, vol. 15(6), pages 1-11, March.
    19. Nesset, Erik & Bergem, Ola & Nervik, Bjørn & Schiøll Sørlie, Even & Helgesen, Øyvind, 2021. "Building chain loyalty in grocery retailing by means of loyalty programs – A study of ‘the Norwegian case’," Journal of Retailing and Consumer Services, Elsevier, vol. 60(C).
    20. Marić, Josip & Opazo-Basáez, Marco & Vlačić, Božidar & Dabić, Marina, 2023. "Innovation management of three-dimensional printing (3DP) technology: Disclosing insights from existing literature and determining future research streams," Technological Forecasting and Social Change, Elsevier, vol. 193(C).

    More about this item

    Keywords

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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-04521356. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.