Sep 12th, 2019. Posted in: News
The first half of 2019 has seen an acceleration in the loyalty industry with a huge number of businesses joining in the loyalty program. We listed 3 trends that affect the industry for the rest of 2019 (we’re sure you don’t want to miss it). In the digital age, it is imaginable that technology has influenced each and every corner of business activities. Loyalty program is definitely not an exception.
From AI, Chatbot to improve customer engagement, mobile wallets to the adoption of blockchain, all advancements is driving a loyalty program to the new level. Here are 3 tech loyalty trends that affect the industry landscape recently:0
Artificial intelligence (AI) and Chatbot are becoming a trusted tool for many companies nowadays. By 2020, customers will manage 85% of their relationship with the brand without having human interaction. Chatbot and AI will soon be mainstream for maintaining and enhancing the customer experience. By programming output and categorizing data based on demographics and features, AI ultimately supports the program with a more personalized experience.
This trend can be seen on 7-Eleven Chatbot Messenger. The convenience store chain giant launched Chatbot on Facebook Messenger which allows customers to learn about current promotions and find 7-Eleven stores nearby. The tool also helps users sign up for the company’s 7Rewards loyalty program and receive digital membership cards that they can scan in stores to earn points.
Though not entirely be a replacement for human interaction, AI and Chatbot aid in resolving common issues, such as placing an order and recommending relevant products and contribute to smoother customer experience.
Apple Pay, Google Pay, and Samsung Pay have dominated the market and change payment method today. People incorporate credit cards, travel tickets and discounts into their mobile wallet, even loyalty cards. Digital wallet is predicted to grow exponentially in the near future. Therefore, providing access to loyalty card through a mobile wallet makes it easier to store card and redeem through scanning codes.
Blockchain is gaining in popularity nowadays with its wide use in various aspects of the business. Marketers in the loyalty industry implemented the technology to create tokenized programs. Blockchain adoption is expected to solve the low redemption rate and assist joint loyalty programs by securing payments and generating the interchangeability of reward points.
Deloitte’s Tech Trends 2019 report explores tech trends that will reshape business in the next 5 years, in which blockchain is anticipated to become as essential as digital experiences and cloud today.
By working with Stampwallet, you’re leveraging your loyalty program to the next level. We create seamless experiences through intelligent platforms combining AI tech. Our software and API, which we call ‘blocks’, include Receipt Capturing, Face Recognition Engine, POS, Analytics Tracking and more. These blocks can be added to your program to make it an awesome innovative tool.
Are you looking for ways to strengthen your customer base? Do you want to stay ahead of the tech loyalty trend? Stampwallet helps you with all AI solutions and loyalty strategies. Contact us now to learn more.