Promotional Offer Tracking via Blockchain and Real-Time Feedback
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Solution Overview
Problem
The promotional offer industry faces challenges with limited control and tracking of coupon redemption, high risk of fraud, and inconvenience in customer relationship management, particularly in gift card programs and customer loyalty initiatives, due to convoluted redemption and settlement processes.
Innovation Solution
A system and method for issuing and tracking individualized promotional offers, such as coupons and gift cards, using a network-connected server with communication modules, long-term and short-term memory, and a processor, enabling real-time integration into customer relationship management systems, allowing for direct communication with customers and retailers, and ensuring item-specific redemption through a blockchain-based tracking system.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of time
If traditional coupon programs are used, then promotional offers can be issued to customers, but control over redemption and tracking is lost until much later
Solution Approach 1:
The patent implements real-time feedback mechanisms where redemption data is immediately transmitted back to the issuer through networked systems. This allows the issuer to track coupon usage, verify redemption authenticity, and monitor program effectiveness continuously rather than waiting weeks or months for settlement reports.
Solution Approach 2:
The patent introduces an intermediary settlement system that acts as a mediator between the coupon issuer, retailer, and customer. This intermediary networked system coordinates the entire redemption process, providing real-time tracking and control while eliminating the need for manual coupon submission and delayed settlement reporting.
2Loss of information
If location-specific coupon codes are issued, then tracking capability is improved, but customer flexibility and loyalty impact are reduced
Solution Approach 1:
The patent creates a universal promotional offer system where a single coupon or gift card can be redeemed at multiple locations within the brand's network. The networked system tracks each redemption in real-time, maintaining full tracking capability while allowing customers the flexibility to use their promotional offers at any authorized location, thereby enhancing both tracking and customer adaptability.
3Reliability
If item-specific coupons are limited in number, then fraud risk is reduced, but redemption difficulties increase at point of sale
Solution Approach 1:
The patent replaces the manual mechanical process of entering and verifying coupon codes at point of sale with an automated electronic system. The networked system automatically verifies item-specific coupons in real-time, maintaining fraud prevention through controlled issuance while eliminating manual entry delays and errors at the point of sale.
Solution Approach 2:
The patent performs preliminary verification and authorization of item-specific coupons through the networked system before the actual redemption occurs at point of sale. This pre-verification process ensures fraud prevention is already in place while the actual redemption process is simplified and accelerated through automated real-time validation.
4Loss of information
If manual coupon entry is required at point of sale, then tracking control is maintained, but customer experience and retailer efficiency are reduced
Solution Approach 1:
The patent replaces manual coupon entry and tracking processes with automated electronic verification through the networked system. The system automatically captures, validates, and tracks redemption data in real-time, maintaining complete tracking control while eliminating the time-consuming manual entry process at point of sale, thereby significantly improving retailer efficiency and customer experience.
Data Source
AI summary
Systems and methods for facilitating real-time integration of use of promotional offers such as coupons, coupon codes, gift cards, and the like into a customer relationship management system and/or process. Users such as brands, companies, retailers, etc. issue and send promotional offers to a consumer as a part of a customer relationship management process, and systems for implementing such methods are provided; computer systems may be managed by a single entity or in distributed computing environments wherein aspects of methods are implemented by disparate parties. In a customer relationship management process, such as using software for customer relationship management, the user can directly issue individualized promotions via a direct communication. The individualized promotions are limited to a one-time use and are serialized in a way that facilitates tracking of redemption of the promotions. Offers are traced in real time and are readily directed to individual desired consumers.