PROBLEM
Affiliate shopping
networks have been a thing for quite a while, but traditional payment methods
used to pay members are expensive in fees and require a lot of private details,
time, and bureaucracy.
Existing platforms
utilize bank transfers, paper checks, and online payment processors such as
PayPal to pay their cus-tomers. These payment methods are not private nor
tru-ly global and include various fees, such reducing cashback commissions and
invading the privacy of users.
The affiliate industry
is often accused of handling confiden-tial customer data unethically to increase
their revenues1. This is made possible by customers needing to provide
per-sonal information and agreeing to questionable terms in order to receive
what they are owed. Submitting private information to cashback providers along
with personal or-der history is something customers understandably want to
avoid.
Another problem, from
the user’s point of view, is the delay between purchasing goods and receiving
the commission. On the existing platforms, it may take up to three months to
receive the actual cashback. That is a long wait, and far from the customer’s
ideal.
A consumer research
report by RetailMeNot2 Inc summed up the key preferences of cashback customers:
96% prefer not to use mail-in rebates 70% prefer payment in a form other than a
check more than 55% prefer to redeem cashback offers
online nearly 50% found cashback offers challenging
to re-deem
These results exhibit,
once again, that consumers want faster payouts, more convenient cashback
platforms, and modern payment methods.
SOLUTION
Our revolutionary
solution to the problem is the Dealjoy platform, which pays out cashback
commissions in our own Ethereum compatible DEAL tokens.
This allows us to
concentrate on finding the best deals and bonuses for our members instead of
dealing with inter-national wire transfers, consequently requiring minimum
payout limits and cutting down cashback percentages due to high payment
processing expenses
Dealjoy cashbacks are
paid out near-instantly and without a minimum threshold. Members can withdraw
their well-earned DEAL tokens to their wallets any time to be traded for other
cryptocurrencies, or held for potential value ap-preciation. Our
community-driven token model works to the benefit of token holders, lessening
the circulating sup-ply and creating buying pressure by repurchasing tokens to
be distributed back to the community as commissions.
Thanks to the nature of
the blockchain-based ecosystem, no identifying personal information is required
of our members. As cryptocurrency supporters and visionaries ourselves,
personal data protection is our top priority. We are confident that our
community will greatly appreciate this transparent and privacy-conscious
approach.
INDUSTRY
INSIGHTS
Retail e-commerce is
predicted to rise from current yearly sales of $2304 billion to $4135 billion
by 20203, summing up to an average annual growth of 21.52%.
The cashback industry
is worth over $84 billion and grow-ing, while more than 100,000 e-commerce
merchants are using cashbacks as a marketing tool and over 64% of con-sumers
belong to a rewards site. In overall, more than 10% of online retail sales are
generated by performance mar-keting affiliates, including cashback providers4.
At the same time, mass
adoption of cryptocurrencies is on-going, with more than 10 million active
wallets5 and total cryptocurrency market capitalization peaking at $800
bil-lion in early 20186.
As proven by these
statistics, it is clear that there will be an increasing demand for
blockchain-based cashback plat-forms designed to connect customers and online
retailers for mutual benefits.
VENDORS
For retailers, cashback
programs have delivered immense-ly impressive results in multiple indicators of
sales perfor-mance.
According to market
research7, merchants experienced a 240% average increase in conversions and 46%
average increase in order value with cashback programs in use. In general,
cashback programs result in improved engage-ment, decreased bounce rate, and
increased amount of time spent on-site.
The following online
consumer behavioral findings of 2015 Global Cashback Industry Report explain
the massive posi-tive sales impact of the cashback programs well:
99% were more likely to make a purchase after
finding a discount 87% actively redeem rewards for points, cash
back and reward miles 82% claim if they can find all the discounted
products they need on one website, they will shop on that site frequently 52% say getting the best price and discounts
is the top reason they shop online
A vast amount of online
vendors have indeed implemented an affiliate program to boost their sales and
enhance visibility. These include the most significant e-commerce platforms in
the world, such as
Amazon, eBay and AliExpress. Since the basic technical affiliate infrastructure
already exists for most of the vendors, adding a support to those websites is
a quick process for
Dealjoy. There is no need for long-last-ing negotiations or complicated
integrations to onboard new merchants to our platform.
As a community-first
project, our members will be able to vote and suggest merchants from whom they
would like to receive cashbacks and deals. If there is demand for vendors that
do not currently offer an affiliate program, we will get in touch with them to
inform our community’s
interest. In the best
case scenario, we will onboard such vendors ex-clusively to the Dealjoy
platform.
Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=2184023;sa=summary
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