IBM Think – IBM (NYSE: IBM) today announced, that BUCKiTDREAM, a new loyalty rewards commerce platform that better connects consumers with brands is using Watson Marketing to provide improved personalized brand engagement experiences. BUCKiTDREAM’s vision is to utilize future intention data analysis to redefine the consumer loyalty rewards industry, which struggles with low engagement rates, inactive accounts and high liabilities from unredeemed loyalty points – estimated at upwards of $5-10 billion for some major US loyalty programs.
Driven by the emerging “Emotion Economy” trend as highlighted in Watson Marketing’s 2019 Marketing Trends Report, BUCKiTDREAM places untapped emotional value on customer’s individual dreams to usher the “Dream Economy.” This makes use of loyalty points to help consumers experience their life aspirations faster.
Research from IRI Worldwide found that 74 percent of consumers choose a brand based on a strong loyalty or discount program. The pervasive challenges for many brand loyalty reward programs are the deficient customer experience discovering reward opportunities, and the lack of relevant personalization when presenting reward offers. Watson Marketing uses artificial intelligence to analyze customer data patterns, thereby providing actionable insights that provide greater discovery and personalization to drive commerce conversions.
“Establishing an emotive connection to a brand is the very purpose of a loyalty rewards program, and yet ironically it is a large missing piece across the industry,” said Tim Carroll, CEO and founder, BUCKiTDREAM. “We have created a global ‘intention marketplace’ where consumers can share their dreams via the BUCKiTDREAM platform, which an AI-powered martech stack is a critical element to connect consumers with brands and we now have that with Watson Marketing.”
BUCKiTDREAM’s mobile platform enables a loyalty member community to create their personal bucket list of aspirational travel destinations, entertainment and life experiences to share with friends, family and a global community. With cognitive tagging matching offers with travel and entertainment aspirations, BUCKiTDREAM makes content more discoverable to help increase consumer engagement and loyalty rewards commerce conversion rates.
Included within the Watson Marketing platform, BUCKiTDREAM will utilize cloud-based content management system, Watson Content Hub, and campaign management tool, Watson Campaign Automation, at scale to orchestrate the key outcomes underlying the end to end commerce platform.
BUCKiTDREAM’s Future Intention Data is curated using cutting edge technology and algorithms that unleash a new digital platform to revolutionize intent based marketing for Brand loyalty programs. This will be powered using AI personalization technology by IBM Watson. The platform will provide a frictionless and valuable customer experience for consumers to engage easily and transparently. This unique differentiation leads to more value for a brand’s loyalty program, members and accretive transactions for merchants, financial institutions and others.
“Today’s marketing professionals are being tasked in ways unlike ever before with the trend now heavily favoring those who embrace new technologies such as AI to augment the discipline’s capabilities,” said Inhi Suh, General Manager, Watson Customer Engagement. “We’re seeing AI-powered martech helping startups such as BUCKiTDREAM quickly achieve scale in unprecedented ways to demonstrate their VC viability, and balanced against the constraints of available resources in terms of budget, infrastructure and talent.”
BUCKiTDREAM is an emotional Engagement Solution (B2B2C) that delivers brand loyalty programs around the world an emotional intelligence solution to unlock member future purchase Intentions with permission in the right context and environment. BUCKiTDREAM creates emotionally driven 1:1 relationship with loyalty members through leveraging an individual’s bucket list – the highest degree of loyalty program members’ intentions and value. By understanding a member on an individual basis, brands discover their passions and future purchase Intentions. Utilising this, loyalty programs can be more relevant to create a truly emotive direct member relationship, by helping them live their dreams. BUCKiTDREAM is mobile, IOS and Android, featuring millions of dreams and short-form content that make it super easy for a loyalty member to create their bucket list.
About IBM Watson Marketing
A world leader in AI software, services and technology for business, IBM has deployed Watson solutions in thousands of engagements with clients across 20 industries and 80 countries. IBM Watson Marketing is an omni-channel marketing automation and analytics platform with purpose-built artificial intelligence for marketers.