The COVID-19 pandemic has resulted in a large number of individuals rethinking their priorities. Some things that used to seem important are less so, and people are looking for more meaning and connection, seeking happy moments to get them through a heavy time.
If you have pondered the future (and potential extinction) of points-based customer loyalty programs, it's worth taking note of a debate that briefly raged at a Loyalty Academy Conference hosted by The Wise Marketer.
I have a confession to make. I’m a point hoarder. You know, when I earn points, hotel nights, or miles in a loyalty program or my employee engagement program at Maritz Motivation, I like to accumulate a lot so I can use them to get something meaningful. For example, when one of my best friends invited me to join her on an incentive trip to Maui earlier this year, I treated us to a fabulous spa at the Fairmont on Wailea Beach. Our massages at the luxury resort were rather pricey, but you know what they cost me? Nothing. I used my points that I earned at work.
At Maritz Motivation, we are making a commitment to AI. This is not a “here today, gone tomorrow” trend. It’s going to become an invaluable tool which transforms industries. Loyalty is one of those industries. In fact, loyalty presents some unique opportunities, which makes it ripe for AI functionality.
There is a famous quote, attributed to anonymous, "We are the middle children of history, born too late to explore the Earth, born too early to explore the stars." Fortunately for us, we were born at the perfect time for Artificial Intelligence. A few years ago, AI was technologically impossible. A few years from now, all of the low-hanging fruit will have been picked. But right now, in most industries, if you can apply AI to your business, you might be the first person in history to do so. That's awesome to think about.