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TEE-coin, TEE "Thank you for sharing your Experience and Explorations”

Rewards programs are commonly adopted today by many merchants. Via these programs, merchant rewards are generated each time a customer purchases the company’s products or its service. Customers will then be able to exchange those rewards with the company’s products or services. Nevertheless, the rewards are inconvenient for users since most of them can only be used to purchase or receive that company’s products or services. For this reason, many rewards expire without being used. There are lots of today's problems that need to be solved. TEE-COIN is the answer.

User behavior has changed due to the diversification of information and e-commerce channels. Online sales and convenience stores are steering customers away from many merchants. Users are looking for new experiences that are cheaper and more convenient. Then there is a common term used in the Food and Beverage (F&B) industry in regards to repeat customers: “ The three-visit rule”.

Accordingtothisrule, once acustomervisitsaF&Bestablishment three times, the probability of that customer becoming a repeat customer is 80%. The cost of acquiring a new customer is 5 times higher than that for retaining a customer. So when customer attrition is reduced by 5%, its profit improves by 25%. The challenge is to establish a trigger for repeated visits that can be controlled by the merchant.

Brand building requires a long-term brand awareness campaign. Once the brand is established, operators can continue to run stores/businesses successfully without incurring advertisement costs. The key element for brand building is to collect a large number of reviews. The challenge is to aptly collect reviews from a large number of customers. And also Material waste/loss has a direct impact on profit. It causes various problems including disposal costs and environmental issues. The key to reducing material waste/loss is to have constant engagement and real-time communication with customers.

Implementing Blockchain Technology and Cryptocurrency to Rewards

To improve the convenience, liquidity, and safety of these systems, and to minimize the wastage described above, TEE-COIN PTE. LTD., by implementing blockchain technology and cryptocurrency, has introduced a comfortable Rewards life which can be linked to other cryptocurrencies and tokens. At TEE-COIN, we provide a unique Rewards platform. Typical websites like Google Maps, TripAdvisor, and Yelp has become standard sites which consumers and travelers turn to for information.

Our review platform ChatTee is built on a system that distributes TEE-coin tokens (hereinafter referred to as “TEE-coin” or “TEE-coins,” unit: TEC) as a reward given to users for writing reviews and for participating in other activities on the platform. The coins can then be able to be used to purchase the products and services of our registered merchants. By combining review and rewards elements, we provide a fun and refreshing activity for consumers. For example, rewards can be acquired by the user just writing a review. Furthermore, merchants who have adopted ChatTee for advertising and marketing can optimize their Advertisement & Promotion costs and maximize customer acquisition.

By using a rewards program that uses cryptocurrency as its medium, the entire ChatTee Platform is also eco-friendly as it’s paperless. Many cryptocurrencies cannot be used as a medium of exchange at merchant stores. TEE-coin strives to provide solutions to overcome this problem. Whenever necessary and for whatever amount needed, the TEE-coin wallet can be easily topped up with other cryptocurrencies for a very low fee. The speedy transaction also enables TEE-coin to be used to settle payments efficiently. We at TEE-COIN aspire to further build on this low-cost reward infrastructure and expand it beyond the region. Our goal is to realize a rewards society that operates in many countries around the Asia Pacific.

TEE-coin, TEE for "Thank you for sharing your Experience and Explorations”

TEE-coin was named by taking the first letters of some of these inspiring words: "Thank you for sharing your Experience and Explorations”. We are creating coins that are will be used by numerous users as “Thanks” coins.

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