Customized crypto referrals enhanced the success of a blockchain business

Push for progress

Streamlining cryptocurrency referral systems

A very established blockchain ecosystem business was on a quest to position itself as a pioneer in the blockchain space by delivering seamless, secure, and rewarding user experiences.

While the user and distributor base expanded, the business faced challenges with scaling and managing cryptocurrency referral programs. What bothered the business despite having a strong and innovative blockchain platform was the struggle it faced with effectively tracking and administering referral bonuses in cryptocurrency. Ensuring secure and transparent transactions remained a challenge while the business scaled to newer growth zones.

This was found effective in enhancing distributor motivation when they found it difficult to manage multi-level referrals and ensure the timely distribution of rewards. Further increasing turnover rates and causing inconsistent referral performances.

Epixel MLM Software met the challenge head-on understanding the need for a centralized and flexible system to handle these complexities. Epixel also took note of how the business faced a stagnancy in growth that led to an increase in distributor frustration.

The company lacked an efficient and scalable referral management system, for which Epixel introduced our sophisticated MLM software solution into the system. Considering the capability of the software solution in offering customizable compensation models and comprehensive analytics, it was anticipated to address specific challenges. The software integration was also expected to drive substantial business growth.

Dissecting the dilemma

Building new roads for business growth

For a blockchain ecosystem business, having a robust referral management system that can efficiently scale operations is fundamental. That being the case, Team Epixel strategically engineered a transformative solution that can manage multi-level cryptocurrency referrals, automate reward distributions, and deliver actionable insights for optimizing MLM compensation strategies at ease.

Epixel developed a roadmap to revive the business by providing distributors with state-of-the-art tools to more efficiently manage referrals. This approach enhanced distributor engagement, boosted customer acquisition, and improved sales figures.

A cryptocurrency referral bonus system was integrated to seamlessly handle referral bonuses in various cryptocurrencies. This was intended to help distributors earn and distribute rewards in tokens. Which further enhanced the effectiveness of referral incentives by 30% within the first two months.

Expecting to improve distributor satisfaction, we integrated customizable compensation models. This was implemented to offer flexibility in creating multiple MLM compensation plans like binary, unilevel, and hybrid models that are specifically curated to cater to the needs of the blockchain ecosystem. This was projected to improve distributor satisfaction by 25%, helping distributors choose plans that align well with their mode of handling the business and other preferences.

We also ensured that all the referral bonus transactions were secure, and transparent, providing clear and verifiable records for distributors whenever they want. Our secure and immutable transaction protocols were designed to lessen transaction disputes of any sort by up to 20%. This helped to heighten distributor trust and confidence in referral programs.

Team Epixel also found out that having multi-level referral tracking is highly significant for the blockchain ecosystem company to keep an eye on referrals at various levels. This also delivered detailed insights into each distributor’s network and performance. The feature was planned to boost referral network growth by up to 35% considering the easiness in monitoring and managing downline performances for distributors.

The result spectrum

From fragmented to centralized referral management

Careful integration of various features and functionalities into the blockchain business framework was expected to transition fragmented referral management to a centralized approach, that would impact on various business KPIs.

With the customizable compensation model, and automated crypto rewards, referral conversions were expected to increase by 35%. This helped distributors stay engaged with potential customers much more efficiently, thus converting more prospects to actively participate in the blockchain ecosystem.

As much as streamlining referral management contributed to improving the company’s ability in managing referrals, it was also expected to increase sales and revenue by 30% within the first six months of integration.

Repetitive and mundane tasks were automated to improve distributor efficiency letting distributors focus more on distributor acquisition and lesser burden on admin duties. This was aimed at boosting distributor productivity by up to 25%.

These integrations heavily improved distributor satisfaction and effective retention for the ease of managing referrals and the transparency that Epixel’s secure transactions delivered. This was set to improve distributor retention rates by 20% empowering them to perform their roles more efficiently.

Epixel’s careful integration of analytics and reporting features into the blockchain business framework optimized referral strategies and marketing efforts. This was targeted to increase the efficiency of referral generation by 15%.

Challenges and solutions

Cruising through core complications

At Epixel, each challenge is a testament to improving our expertise and skills. Each new industry, category of products, and business challenges in the direct selling landscape is a learning that empowers us as a team.

That said, the major challenges we witnessed while catalyzing growth and success for the blockchain business, and the solutions we found out were

To ensure seamless onboarding for distributors, and to adopt a new crypto referral system effortlessly we ensured round-the-clock support expecting a 95% higher adoption rate within the first month.

To maintain a personal connection with referrals while also embracing automation, we crafted personalized communication templated and customized follow-up messages, to make sure that all referrals were personally attended to.

For accuracy and security of referral information, we incorporated robust data validation protocols with advanced security measures. This ensured that every sensitive information was protected, and the highest order of data integrity was maintained.

Expected Results

Higher referral activation rates

40%

Increase in revenue growth

35%

Improved distributor productivity

30%

Enhanced distributor retention

25%

More expanded referral network

40%

More optimized marketing efficiency

20%

Lesser operational costs

25%

Increase distributor satisfaction

95%