Oshi Updates: Bitcoin-infused rewards and loyalty program features \ stacker news ~bitcoin

pull down to refresh

Oshi Updates: Bitcoin-infused rewards and loyalty program features

3994 sats \ 17 comments \ @michael 3 Oct 2023 bitcoin

Today we're introducing some powerful new Oshi features giving Shopify, WooCommerce, and Square businesses better tools to acquire and retain customers using Bitcoin.

-VIP Tiers -Referrals and Affiliates -Social Engagement

You can see our twitter post here: https://twitter.com/OshiApp/status/1709251099977249082 Here's our blog post with details on the features: https://www.oshi.tech/blog/oshi-loyalty-upgrades

tl;dr - traditional loyalty points are shitcoins customers earn, Oshi helps customers earn bitcoin seamlessly

Loyalty & reward programs are used by millions of businesses use each and every day. Millions of consumers use them as well, even though they really don't give a shit about them, or their points. Regardless, they work. But they can work better.

The idea here is that we make it very easy for businesses of all sizes to offer a Bitcoin rewards program natively through their point of sale or ecommerce site.

This engages and intrigues customers with a new form of rewards, while consolidating all the coffee points, punch cards, miles, stars, and other junk onto an open loyalty network, where sats are the loyalty point standard.

Eager to hear everyone's thoughts!

view all related items

2134 sats \ 2 replies \ @Ribbit 3 Oct 2023

I support any new innovations and attempts.

Some caution i see:

Loyalty points are sort of a gimmick. They are a sort of fictive money or loose change value added to a product or brand. So associating it with hard money and concepts like Bitcoin might be a conflict in the minds of orange pilled toxics for instance, those already familiar with bitcoin. It's sort of in the realm of web3 video games.

I really like your presentation and deploy. If it's combined with an easy wallet like WOS for the average consumer, i could see it getting used a lot.

1597 sats \ 1 reply \ @michael OP 3 Oct 2023

Thanks for the honest feedback @ribbit! I agree with you. Loyalty rewards and such are very gimmicky. I've always felt that way as well. The truth is, it still works though, which is hard to wrap my mind around at times.

Through diving into the loyalty and rewards space, I've learned a lot more about why it works and it all just boils down to psychology and giving the customer another touch point to keep the brand top of mind.

In any case, it helps businesses retain customers and is a driving force in their sales in some way, shape or form.

It does hit different when it's Bitcoin rewards, though.

The cool thing about what you're saying is that most Bitcoiners already have Bitcoin and earning another 1% or whatever here or there really isn't that appealing if they have to through extra steps. People still do it, though.

But for the everyday consumer, the NPC, the no-coiners, the pre-coiners - they earn those points like they're going out of style and don't really think twice about the fact that they're basically shitcoins.

So if we can more people earning Bitcoin instead, almost passively and seamlessly, I think people will have a far greater chance of looking into bitcoin and effectively being invested in its success without having to lift a finger. We shall see!

Right now we do have some metrics. On average, ~30% of people who received an email to claim rewards (often times completely unaware they were getting them post-purchase) actually do 'claim' them. From there, ~40% of people withdraw them to a lightning wallet. Of note, the majority of people earning these rewards are NOT bitcoiners. They're just buying everyday products from businesses who aren't exactly 'bitcoin' businesses, and getting some sats in return.

thanks again for the feedback and we'll certainly keep this in mind :)

16 sats \ 0 replies \ @Ribbit 3 Oct 2023

The cool thing about what you're saying is that most Bitcoiners already have Bitcoin and >earning another 1% or whatever here or there really isn't that appealing if they have to >through extra steps. People still do it, though.

That's a good point, i'm a Sat maximalist, where every sat matters, so i would be marginally more likely to go with a merch that had sat rewards

112 sats \ 1 reply \ @TonyGiorgio 4 Oct 2023

Your UI and designs have come a long way, congrats! I have no knowledge of merchant related things but I know these are probably very deep rooted in your boots on the ground merchant feedback. Hope things have been well, catch up with ya soon!

589 sats \ 0 replies \ @michael OP 4 Oct 2023

Thanks Tony!

100% we’ve taken what we saw and learned on the ground and built this out with all of that in mind.

Looking forward to chatting! Awesome release by you guys today as well. Loving the progress.

110 sats \ 1 reply \ @BlokchainB 3 Oct 2023

Is this only in Texas?

433 sats \ 0 replies \ @michael OP 3 Oct 2023

No this is available in a variety of ecommerce shops currently! No reason why this can't be global. We do have some global brands as well.

110 sats \ 0 replies \ @TheWildHustle 3 Oct 2023

Cool stuff

16 sats \ 0 replies \ @Car 3 Oct 2023

woo doggie!

10 sats \ 1 reply \ @faithandcredit 3 Oct 2023

does anyone remember r/place? Oshi held its own, but i dont think this is same thing

10 sats \ 0 replies \ @michael OP 4 Oct 2023

Not familiar with it so not exactly sure what you’re saying haha

1051 sats \ 2 replies \ @k00b 3 Oct 2023

I've been on the receiving end of Oshi Rewards for my office rent @PlebLab. No KYC. No Login. I just pay and get sats to withdrawal.

I don't normally participate in rewards programs but getting bitcoin does hit different - when choosing between two otherwise equal businesses I would actually pick the one with bitcoin rewards.

209 sats \ 1 reply \ @k00b 3 Oct 2023

This reminded me to pay my office rent lol. 18k sats earned like it was nothing.

https://snimgs.s3.amazonaws.com/Screenshot+2023-10-03+at+3.58.06+PM.png https://snimgs.s3.amazonaws.com/Screenshot+2023-10-03+at+3.59.39+PM.png