Loyalty and marketing automation firm Loymax is leveraging the capabilities of machine learning to transform customer engagement.
Established in 2019, Loymax Solutions specialises in loyalty and marketing automation solutions that enable retailers to embolden their relationship with customers, maximising sales growth and fostering long-term loyalty.
With its technology featuring in 25,000 stores worldwide, Loymax specialises in enhancing customer engagement, boosting in-store spending, and empowering retailers to extract actionable metrics from their loyalty programmes – insights that aid retailers in driving innovation within their businesses.
Empower Your Business
As the company itself puts it, Loymax offers ‘more than just an IT platform’ – it serves as a gateway to enable businesses to seamlessly implement loyalty programmes of any complexity with precision.
The company offers a comprehensive suite of services that facilitate the creation and configuration of promotions and enable precise targeting of audience segments. Its smart communication tools allow for easy segmentation and trigger communications, including SMS, email, and push notifications.
Additionally, Loymax enables seamless grouping and categorisation of products, ensures access control with customisable roles, and facilitates collection, storage, and processing of customer data for strategic decision-making.
Loymax ML
With this in mind, Loymax has unveiled its Machine Learning (ML) module, a new tool that promises to revolutionise customer engagement through delivering personalised promotions. By eliminating human error and ensuring the delivery of precise, tailored offers, Loymax’s ML module takes personalisation to new heights.
It’s also extremely versatile, seamlessly integrating into a retailer’s existing architecture, and boasting the capability to personalise approaches for different scenarios, and implement various strategies simultaneously.
Millions of personalised promotions can be generated daily, surpassing the capabilities of a typical retailer’s marketing team. By analysing each customer’s shopping preferences based on over a thousand parameters, the Loymax ML module tailors offers and promotions accordingly. Moreover, it continuously learns from its effectiveness, adapting to craft more enticing offers over time.
Retailers can leverage this technology to increase average purchase value and shopping frequency, with studies indicating a potential 2% increase in gross sales through the use of the Loymax ML module. Elsewhere, it can also reduce expenses associated with customer churn – a common concern for retailers – by optimising customer-facing communications and incentivising shoppers.
As the process is largely automated, it requires minimal intervention from retailers. According to Vladimir Kichatov, chief marketing officer at Loymax, “Retailers don’t need to do anything. They simply select the templates they want to use, and the rest of the process is automated. Machine learning does all the hard work.”
The Loymax ML module is ideal for businesses with a high frequency of purchases and a customer base of at least 300,000, although there’s no limit to its capacity or capabilities.
Monitoring Effectiveness
Loymax also offers a comprehensive analytical module designed to empower retailers in evaluating the effectiveness of customer retention and engagement programmes.
Through the use of interactive dashboards, Loymax provides businesses with instant access to invaluable company insights, enhancing the decision-making process. This capability enables businesses to effectively monitor, manage, and adapt marketing and loyalty initiatives, from tracking customer behaviour to measuring campaign success and optimising strategies.
In retail, fostering long-lasting relationships with customers is vital for success, and as such, embracing state-of-the-art technology is not merely a choice but a necessity. With Loymax, retailers have the power to make data-driven decisions that can take their business to the next level.
For more information, visit www.loymax.io.
This article was written in partnership with Loymax.
