Presently, numerous retail shops also have their own loyalty cards which provide their customers with a plethora of advantages. However, the recent onset of the COVID-19 pandemic has forced businesses to adopt online models, which has rendered some loyalty programs of little use as they require face-to-face interaction. Based in Townsville QLD, Australia, Lavish Crypto has designed Lavish Loyalty—a decentralized B2B networking and loyalty platform that is helping businesses that have adopted an online model.
Lavish Loyalty’s model encourages loyalty by building a community that supports each other and creating an incentive for them to purchase within the partner network wherever possible. It is a truly decentralized model in which partners can participate by providing an advertised discount to all other participating partners. In return, they will receive an advertised discount whenever they purchase within the partner network. Effectively, instead of paying high fees and commissions to
Lavish Loyalty, partners are encouraged to reward each other for their loyalty.
The Inception of Lavish Loyalty
The original concept of Lavish Crypto was to encourage tourists to visit Australia and allow them to use cryptocurrencies during their travel, as well as cater to a new niche market—people that have made a fortune trading cryptocurrencies. The company aimed to provide these crypto-tourists with bespoke lavish holiday packages and allow them to pay for the whole thing in a single crypto transaction. Travis Stroud (Founder and CEO of Lavish Crypto) worked on the concept for two years and pitched numerous investors. However, the resounding feedback he received was that it was a great idea, but had no way to attract partners, no money to scale, and no community to use it.
From his experiences, Travis realized he needed a profitable business model without a cryptocurrency first which builds a community and is in accordance with the company values. Lavish Loyalty was tactically designed to solve these problems; however, it became a viable business model in its own right. Travis remarks Lavish Loyalty as just the Minimum Viable Product for a much larger project. It is designed to support small to medium businesses all over the world, build a community of small business owners all supporting each other, provide tools for decentralized commerce, and lay the foundation for developing the tourism platform Travis originally envisaged.
A Robust Model
Lavish Loyalty’s robust model has been instrumental in it being able to differentiate from the competitors. The model encourages loyalty without getting involved in the transaction process. This allows money to flow freely between business owners without charging any commissions. By combining decentralized loyalty with features of popular social media sites in a dedicated platform, partners will have all the tools they need to make deals, barter, share referrals, and grow their business. “Business owners are consumers in their personal lives too, so partners gain new loyal customers and save money on personal and business expenses. It works both ways®,” asserts Travis.
An Enabler of Decentralized Commerce
Travis’ personal values have been deeply rooted within the company. He believes that people have a right to privacy, thus, selling partners’ data without their consent will never be a part of Lavish Loyalty’s profit model. The company will never trick people into consent by burying details of consent in the terms and conditions pages that they need to accept and a majority of them don’t read.
Recognizing that small businesses are the lifeblood of economies and provide the vast majority of jobs, Travis established a platform for them to support each other. He has aligned Lavish Loyalty with a mega-trend where people are grouping together on social media platforms to make change where individually they had no chance. The Wall Street Bets/Gamestop situation is one example of such an occurrence in which a group of individuals acted together to cause a short squeeze which cost shorting hedge funds millions.
“The platform is an enabler of decentralized commerce, so the potential uses of the platform are only limited by the imagination of the community,” states Travis.
Ensuring Constant Innovation
Innovation plays an important role in an organization’s growth. Travis enunciates that innovation is something that comes from light-bulb moments and everyone has these moments at times in their lives. He believes that enabling all company employees to voice their opinions for improvement will set the conditions for innovation to be a company habit.
“Having a policy-driven innovation reward system in place will create incentives for employees to think outside the box and ensure we are not just staying up to date but setting the pace regarding innovation,” adds Travis.
To ensure constant innovation, Lavish Loyalty’s leadership team is planning to adopt a military planning model. In that model, there will be people assigned to current operations—that ensure constant improvement of what the company has now, and future operations—that research the market and spaces where technologies can be exploited to improve customer experience in the future.
Maximizing the Opportunities
The COVID-19 pandemic has devastated small businesses across the globe. A majority of those who have survived have adopted online models and will be looking for cost-effective ways to increase their online exposure which presents a great opportunity for Lavish Loyalty. It is in the right place at the right time with the right values to support them and help them grow their business. Being a global platform and linking small businesses, Lavish Loyalty will also provide assistance with partner’s import/export and enable decentralized international transactions.
Expansive Future Plans
In the coming years, Lavish Loyalty will be recognized as a must-have marketing platform for small businesses around the world as it will be a launchpad for several other enabling services to help them grow their business. “I have a very interesting R&D plan for a game-changing idea which at this stage is IP I need to protect,” mentions Travis. In 2022, Lavish Loyalty is planning to focus on platform improvements and building a dense community of international partners. Travis adds, “All our plans stem from having that small business community to enable.”
“The Unpopular Opinion”
Travis believes that Bitcoin may end up like Nokia in a few hype cycles. When he was young, Nokia phones were so popular. However, after Apple released its first iPhone with a touch screen, Nokia failed to match the innovation and lost huge market share. Although it is still there, its popularity is not what it once was.
Travis further mentions that there are several better technologies than Bitcoin. They have faster and cheaper transactions, provide smart contract capabilities and many other viable use cases other than just transactions and store of value. He adds that Bitcoin also has the problem of being a decentralized blockchain but having too few people with far too many coins. According to him, this inevitability leads to centralized activity. Bitcoin “whales” can short the price with leverage, then sell the majority of their holdings, collapse the price-making profit from their short position, and then buy much more and far cheaper at the bottom.
Quote: “I believe that doing the right thing by people will always lead to greater success even though doing the right thing doesn’t attract media attention.”
Special Message to the Readers:
We are now officially an international platform with partners in 3 countries. By staying out of the transaction process, we can offer decentralized loyalty services globally without the need for expensive and limiting financial services licenses in other countries so we can expand rapidly. Right now, and for a limited time, we are offering partnership free for life to reward early adopters for their early support. Once the administration of the platform becomes too busy, we will be required to charge a small monthly subscription fee for those that join from then on, to employ staff and scale sustainably.
Lavish Loyalty is a platform that creates incentive for businesses to purchase within the community and grow in support of each other. Founded by Australian Army Veteran, Travis Stroud after serving for 11 years as a communications specialist. Lavish Loyalty is on a mission to help small business owners around the world recover from the pandemic and improve their quality of life.
