Loyalty platforms are leveraging Artificial Intelligence to attract more clients to their business

Loyalty platforms are leveraging Artificial Intelligence to attract more clients to their business

Loyalty platforms are leveraging Artificial Intelligence to attract more clients to their business

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In today’s digitized world, even the market leaders of different sectors are threatened by small and distant competitors backed by lesser barriers to entering the marketplace. The scenario worsens with consumer trust in brands and organizations hitting an all-time low. Therefore, it is now critical for the brands to prioritize reaching customers and develop trust and build emotional loyalty with the customers. This has boosted the demand for implementing artificial intelligence and machine learning in the business models of the companies to gain market share.

Notably, artificial intelligence (AI) and machine learning refer to the machines programmed to forecast the outputs based on various data points. Thus, when this technology is applied to study and engage customers, companies could maximize customer personalization boosting the customer’s experience. This, therefore, has helped further boost positive customer experience with higher conversion rates.

To attract more clients, several loyalty and rewards solution providers are partnering up with AI platforms to provide these cutting-edge solutions. For instance,

  • In May 2022, Dubai-based ENTERTAINER entered into a partnership with Mall IQ, a US-based Location Intelligence and AI Platform to analyze the real-time buying behavior of the customers in specific locations such as malls, long before the transactions are made. The AI platform will particularly help the loyalty provider enhance customer loyalty and improve activation, retention, and basket size in the long run.

Notably, Mall IQ, which mainly deals with banks, fintech firms, and payment and loyalty platforms, helps them develop location-based mobile engagement, analytics and AI services without any hardware usage. Handling a loyalty application is critical since communication is the only bridge connecting the brand with the customer. Therefore, it should not irritate the customers yet, should always be in touch. Consequently, Mall IQ, with its unique expertise, is helping this loyalty platform to optimize its loyalty programs.

ENTERTAINER, which has been working with different clients from telecommunications, financial services, and many more, is expected to enhance its product offerings after the partnership with AI-platform. This will further help the loyalty provider to attract many more clients across different countries across the Middle East, South Africa, the United Kingdom and Southeast Asia.

Therefore, the expertise of the platform to digitize real-time purchase intent in the physical world, making it insightful and actionable for mobile apps, has attracted many customers in North America, Europe, the Middle East and Southeast Asia.

Similarly, a loyalty management platform, Antavo partnered with one of the key market leaders in the visual AI technology, Syte, to enhance customer experience, particularly for the retail shoppers. Notably, by integrating Syte’s innovative AI solutions with Antavo’s loyalty programs, retailers will be able to attract more shoppers to the businesses. This partnership particularly helps the retailers to increase engagement and develop a deep understanding of their shoppers’ interests. Therefore, retailers will not only be able to attract new customers but retain the existing ones too.

Since artificial intelligence helps to understand consumer behavior and create a more personalized experience, loyalty programs based on AI will capture the market over the long run. The fact that Amazon controls a 50% market share in the e-commerce industry re-establishes that AI and deep learning are keys to marketing success.

To know more and gain a deeper understanding of the global loyalty programs market, click here.

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