Revolutionizing The Loyalty Industry by Bringing the Best of Artificial Intelligence
- Posted on April 25, 2023 by Robert
- Reading time about 5 minutes
Novus Loyalty has won the prestigious award for “Best Use of Innovation in Loyalty Marketing” and “Best Use of AI in Loyalty Technology” at the Customer Fest Show 2023”
It is becoming increasingly difficult for brands in a time when customers are bombarded by messages across every channel to attract and engage them. In this matter of time, retain your potential customers as well as attract new ones to your brand. Scalable customer loyalty and rewards management software are quite effective in enhancing the loyalty of the customers, but today’s brands are leveraging AI-powered loyalty programs to drive better customer experience.
Artificial intelligence (AI) is increasingly becoming a more popular tool for loyalty programs to attract and engage customers. When Artificial Intelligence and Machine Learning are integrated with loyalty programs then it enables brands to utilize customer data effectively, boost engagement as well as enhance the program experience through the customer points system.
Artificial Intelligence in Loyalty Programs
As brands are leveraging AI and Machine Learning, loyalty programs are advancing every year. Novus Loyalty is scalable customer loyalty and rewards management software with AI trends and technologies to enhance its customer experience and drive engagement. The program is designed to understand and analyze customer purchase behavior through data.
It is estimated that AI in loyalty programs influences the purchase decision of 65% of customers while 80% of customers confirm that they will spend extra for a better customer experience.
AI in loyalty programs helps brands to segment customers and delivers the information that brands need to create personalized incentives, rewards, and points based on the profile of customers. Thus, integrating AI in loyalty programs drives efficiency and enhances business outcomes by automating tasks and improving decision-making.
How AI Benefits in Gaining Customers’ Loyalty?
Brands that focus on improving customer experience can increase sales, boost productivity, as well as grow a base of loyal customers with the best referral marketing software. Let’s see some of the ways that AI helps you in achieving true customer loyalty.
Better Predictive Analytics
AI is mostly used to determine the future needs and requirements of customers. Thus, brands can create a hyper-personalized AI-powered approach to deliver customized rewards, engagement, and experience for customers by analyzing customer data such as customers’ purchase history, browsing behavior, and social media activity. AI-powered loyalty programs easily identify patterns and preferences to create unique individual offers, recommendations, and rewards in real time.
Custom Recommendations & Preference
AI in loyalty programs can quickly understand and analyze the customers’ preferences and needs. AI algorithms and Machine learning together can fetch data that helps in providing product and service recommendations to customers. For example- Netflix uses AI to get what customers look for and the recommendation engine predicts what individuals would like based on their previous history and similar attributes. Thus, influence customers with recommendations and preferences.
AI Incorporate Value, Attrition, and Potential
Brands can easily measure how likely customers will stay or leave with the help of AI-powered loyalty programs. It helps you in segmenting your customers and breaks them down into different customer groups. AI algorithms in loyalty programs segment loyalty members into actionable groups that maximize revenue and benefit customers as well as the brand. Thus, segment benefits include free tier upgrades, bonus rewards, and points based on the customer’s profile.
Improves Customer Experience
Brands want to deliver better customer experiences with modern loyalty programs. Easy interaction with customers and solving their problems is a one-way to build your brand loyalty. For example- Chatbots facilitate an easy conversation with customers with pre-planned and personalized data that adds to customer satisfaction.
How Novus Loyalty Is Different from Other Loyalty Platforms
Novus Loyalty is a unified platform that integrates artificial intelligence into your customer loyalty program. With Novus Loyalty, you can easily identify strategies that will most effectively utilize communication with your customers.
Target Your Customers with Emotional AI
Novus Loyalty is the best scalable customer loyalty and rewards management software bringing emotional AI to the board. AI can easily detect if a customer is frustrated or upset and how they are responding with targeted promotions and offers. We integrated AI-powered algorithms to detect and respond to human emotions. Thus, brands and businesses can use the customer point system to personalize customer interactions based on emotional responses.
Voice-Enabled Loyalty Program
Novus Loyalty programs have come up with the latest trends of AI in loyalty programs. Voice-activated loyalty programs allow customers to access their loyalty program accounts and redeem rewards using voice commands. This makes it easier for them to deliver their best experience with the best referral marketing software.
The customer points system in the Novus Loyalty is made more personalized with incentives, rewards, points, and discounts within your customer loyalty program. AI and deep learning insights create a more personalized shopping experience based on the customer’s profile. Thus, segments audience cohorts and personalize the customer experience.
AI technology is transforming the way loyalty programs work and so we are keeping the trends for the futuristic vision and goals that we are dedicated toward innovations and bringing the best of AI in the Loyalty industry.
As Artificial Intelligence continues to evolve, we are also indulging in creating outstanding loyalty programs to deliver even more innovative solutions for the brands. Novus Loyalty program is designed and integrated well with the customer experience that drives customers’ engagement and stays loyal to your brand.
In the coming months, we are planning to incorporate Artificial Intelligence in a more innovative way to influence loyalty programs that enhance the customer experience and drive engagement for the overall success of the brands and businesses.