“The most potent idea is that which effortlessly invokes hope and advantage in the average consumer”
-Lai Labode BLE.CRMA, Harvard
By Lai Labode
There are three key problems with the African Customer Loyalty Space;
- Profound Copy-Cat Syndrome
- Poor or Patently Subjective Data Interpretation
- Poor Conversion of Interpreted Data to Innovative Customer Loyalty & Reward Products
In the boldest bid to re-invent the African Customer Loyalty and Reward Industry, CeLD Innovations Limited commissioned the most important consumer management research in decades; the company christened the research ‘The Patronage Optimization Research’, the study focused on how best to find the MOST POTENT EMOTIONAL DISPOSITION of the average African Consumer and how to sustainably and effectively develop CONSUMER EMOTIONAL EQUITY.
One of the fascinating things about the research was its methodology; the research coverage of all social classes, the depth of its iterations and the very deliberate non-use or acceptance of ‘yes’ and ‘no’ answers to its multi-directional questions. All responses were conversational to ensure that the sets of answers extracted the core emotional dispositions of the respondents. The collected answers were processed for consistencies, use of language, insinuations and inconsistencies; which were further tested against real life and practical outcomes before conclusions and hypothesis were established.
The Result found that “WHAT THE AVERAGE AFRICAN CONSUMER REALLY WANTS, IS AN OPPORTUNITY FOR LIFE-CHANGING CASH REWARD AT THE POINT OF PATRONAGE.”
While the ‘REALLY” in summary symbolized the depth of the emotion of the consumer, the LIFE-CHANGING’ element firmly described what kind of ‘CASH REWARD’ the consumer most desired, “THE POINT OF PATRONAGE” in the summary result emphasized the point where and when the customer wants his or her ‘LIFE CHANGING OPPORTUNITY’, it emphatically establishes the reality of the feeling of entitlement of the average consumer whenever they were bringing out their cash to pay for a good or service. The point of patronage is the point where customers feel most entitled and want to be treated in the best possible way.
Two key questions emerged from the result of ‘The Patronage Optimization Research’:
(a) How could any company offer ‘LIFE-CHANGING CASH OPPORTUNITIES every time it is patronized?
(b) How would a company be able to sustain such offers?
The required answers led to the creation of AFRICA’S MOST INNOVATIVE CUSTOMER LOYALTY & CELEBRATORY GIFT COMMODITY called THE CASHTOKEN. The CashToken is an electronic Customer Loyalty & Celebratory Gift Commodity that offers life-changing cash opportunities to consumers at the point of patronage. The Product connects every purchase, gift or tax paid to life-changing cash opportunities of Five Thousand (₦5,000) to One Hundred Million (₦100,000,000) in a multi-industry National Consumer Draw every week while offering Guaranteed cash for Insurance, Pension or Savings for every customer.
The CashToken offers businesses and governments a performance-based loyalty and reward commodity that best fits their growth visions. The product doesn’t only provide the best opportunity to develop emotional consumer equity. It provides the most practical way to optimize customer loyalty investments while primarily improving sales.
THE CASHTOKEN is by every means a revolutionary product that ushers in a new era of HYPER CONSUMER CENTRICITY and a New Innovative era for connections to CONSUMER EMOTIONS. , and Alexander Forbes audits its National Consumer Draws.
The CashToken in its early days has already been adopted by Large Retail Businesses, Financial Institutions and Key Players in the Hospitality Industry. The entry of a major mobile network and four top Nigerian banks is imminent.
It is expected that in Two (2) to Three (3) years, Nigerians will find it difficult to buy a good or service without collecting CashTokens as rewards. As at today, almost a million Nigerians have been gifted CashTokens and testimonies abound of how the cash rewards impacted lives positively.
A new age of HYPER CONSUMER POWER is upon us!
Editor’s Note: This article was originally published in The Spark Magazine. Find the magazine here to read other articles.
Lai Labode is the Founder and Managing Director of CeLD innovations Limited. Lai is a Principal partner at FisshBone & LESTR Limited, a technology and business consulting firm. Lai is a business logic expert with a very extensive knowledge of the African emerging markets. Lai studied Corporate Restructuring, Mergers and Acquisitions from Harvard Business School in Boston, USA , Strategic Innovation from the prestigious Imperial College , London and holds a degree in Accounting and diploma in Law from University of Abuja, Nigeria. He is happily married to the love of his life Ijeoma, they are blessed with two wonderful boys, Salt & Einstein and an angel named Rhodium.