Referral programs have always been considered quite effective and profitable marketing move and a tool for attracting customers. Due to the simplicity of the concept itself, many companies, using similar loyalty programs, get quite a good influx of customers.
Statistics show that 91% of B2B buyers make decisions about the purchase of a specific product or service based on recommendations and advice from their friends, family and friends, and 84% of final buyers in most cases also decide on the use of services or goods a specific supplier, relying on the words of other people who are already customers of some company.
Despite the fact that the concept of referral programs in itself provides for high efficiency, participants from among business owners still face certain problems.
We learned about the difficulties and shortcomings of referral programs, thanks to the Plentix project , which found solutions to them and which will be discussed in the next three articles of the review. The creators of Plentix are going to effectively use the technology of blocking, so let's find out how they will be able to apply it in this area.
In this part of the review we will talk about the essence of the project and its idea as a whole. In the next - we will discuss the situation with referral programs, their pros and cons, the difficulties with their application, and the last part will devote to the options for using the opportunities that Plentix will open.
What is Plentix?
The idea of the founders of the Plentix project is to create a decentralized platform based on the use of blocking technology and, at the same time, an application with which all its participants will be merged into an online referral program with the possibility of receiving remuneration.
The platform is designed for users such as business owners and developers, so that each of them can take advantage of the opportunities and benefits of referral programs in full.
Participants will have access to the Plentix platform in one of their convenient ways: either using a mobile application for smartphones based on iOS and Android, or accessing the web platform via one of the browsers on a PC or any other device.
Each participant can use the API of the Plentix platform to create their own solutions, software, functions and applications. For this purpose, both the platform itself and third-party applications can be used.
The task of Plentix is to make the process of creating, launching, integrating and maintaining referral referral programs both simple and efficient.
The role of the blockade
Blocking technology and smart contracts are used in a variety of solutions, which include the implementation of a transaction and the decentralized storage of data. Blocking is characterized by its reliability of data storage, in which it is impossible to interfere with third parties, but it provides maximum transparency, speed and security of transactions, so the technology has found application in Plentix.
The technology of blocking and smart contracts in Plentix is a decentralized distributed architecture and automation of processes. All participants of referral programs are reliably recorded in the locker, which, in turn, allows business owners, developers and organizers of referral programs to control referrals, referents and correctly distribute rewards.
Economics of tokens
Plentix is not only a decentralized platform with a set of tools. This is also a token of the standard ERC-20, which will be sold publicly in July this year as part of the presale and krauseyla.
One of the options for rewarding referents for inviting users is 10% for each referral, which are paid in the form of Plentix tokens. But this is by no means the only way to reward participants in referral programs. It all depends on the options that the business owners themselves will choose.
Another way to motivate users to participate in referral programs and invite new participants is to fully receive commissions from three (or fewer) first purchases or payments. All awards, in this case, are carried out in the form of Plentix tokens.
In addition, organizers of referral programs can provide for their participants a system of various discounts for active participation in the invitation of new users. Therefore, the reward can be either Plentix tokens, or various discounts, or both, and at the same time.
In the next part of the review, let's talk about how relevant the idea of Plentix is by looking at the shortcomings and problems that existed in referral programs before that time.
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