Turning customers into hardcore fans - Bennet

gm frens, innovators, and curious minds. ??

This is the first issue of our weekly newsletter – yeah, one more newsletter to add to the pile.

Except we want it to be laser-focused, accessible, and digestible.

Most of all, we want it to reflect the actual business-solving potential of the blockchain.

We will only focus on concrete case studies from industry-leading and innovative brands.

That’s it.

Also, we’ll explain why we think they matter for business as a whole.

Each week we will discuss a case study that we think is especially relevant business-wise – web2 and web3 included.

The structure is simple and replicable – you can easily steal it for some presentations. If you give DVRS a shoutout, we would appreciate it.

It goes like this: what, who, how, why, and results (when applicable).

Let’s start so that you get the gist…

It’s only the beginning of the year, and 2023 still looks full of promises for the web3 ecosystem.

Despite recent scandals (cheers, SBF) within the space - which significantly impacted crypto markets – we see a lot of blockchain-powered startups and investors paving the way for decentralization mass adoption.

Brands have also started to invest and doubled down on their previously launched web3 ventures in January 2023.

?? This week, Bennet S.p.A. is under the spotlight – if you’re not Italian, you might not know it, but we’ll explain.

Hold on to your seat, innovation is in the air, and there might be one or two exciting concepts to take with you – save it for later.

TL;DR ??

Bennet turns its customers into brand evangelists.

WHAT

Bennet is a major supermarket chain from Northern Italy with 70+ retail locations.

On January 2023, the company made a bold move and officially launched The Bennet NFT Club.

Bennet is a legit big retail player, so it differs from your usual NFT collection.

The collection is a disguised on-chain loyalty program – one of the first (if not the first) from the large-scale retail industry.

WHO

It targets, more specifically, tech-savvy GenZers and Millennials who have already gotten into web3, i.e. people who already own a crypto wallet - and most likely, who already know their way with NFTs.

HOW

Bennet will release three tiers (Silver, Gold, and Platinum) of NFTs available to customers who sign up for their traditional loyalty program.

This is where gamification comes into play, as each tier grants different kinds of rewards to its holders. This is way harder to implement with traditional reward programs.

Bennet has announced it has partnered with major web3 players to reward its holders shortly.

Successful web3 projects and players will enable Bennet to offer appealing rewards for crypto natives: 阿迪达斯 Original, 10KTF Gucci Grail, and RTFKT Cryptokicks, to name a few.

WHY

Bennet’s is gearing up for a more comprehensive on-chain loyalty program deployment.

Making these first strategic partnerships with key web3 players will undoubtedly prove beneficial to raise awareness among their core target and confirm interest.

Let us imagine that Bennet integrates immediate rewards on its products and leverages the blockchain's trackability potential.

It might change how the company operates and interacts with its customers drastically.

The company will also be ready from day one as soon as we see more interoperability between on-chain loyalty programs - we’re talking partnerships with brands within and outside the Bennet’s industry.

The co-marketing and activation potential is colossal not only to foster retention but also raise awareness and boost conversion.

Closing thoughts

Bennet still has to deploy its program and execute it seamlessly – which potentially will be the hardest part.

They are betting that there are enough web3 enthusiasts within their target audience in Italy. This is a strong assumption.

Nonetheless, they are taking the necessary steps to implement an on-chain loyalty program within the retail sector which is unprecedented.

They will have an undeniable competitive advantage if they pull this one off.

Kudos to their team and partners for at least considering walking the walk. ??

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