Subscribe to DSC Newsletter

The Impact of Artificial Intelligence on Online Coupon Industry

It seems almost redundant to say this, but coupons are a significant hit among, well, everyone. And while that is common knowledge, there’s research to prove that assertion as well. A 2019 report stated that 60 percent of buyers enjoy receiving digital coupons. The same report also claimed that last year more than 30 billion digital vouchers would have been redeemed in 2019 alone. And even though the numbers in regards to that claim are yet to come in, given how much everyone loves coupons, we wouldn’t be surprised if the final tally surpasses the expected figure. So, they are here to stay — at least for the foreseeable future.


And given that they are such excellent marketing tools, it has become imperative to evaluate how novel technologies impact them in the world. For example, artificial intelligence, i.e., among the most popular techniques in the world right now, has virtually transformed how businesses put coupons to use. How? Well, because of two things: The world is brimming with data and artificial intelligence’s USP is leveraging data to help companies do prosperous business. But now, let’s dig a little deeper into this combination of artificial intelligence and coupons and some of the most compelling ways in which the former is changing the latter.

  1. Chatbots: Chatbots are easily one of the most beneficial tools AI has presented the world with. Many people would understandably wonder how chatbots contribute to online coupons. Quite significantly, since they engage with customers, they can collect ample data about their needs, desires, and more to deliver personalized tickets to them in a variety of forms and through myriad means as well.
  2. Voice-based assistants: Next up on the list of the many different ways artificial intelligence has revolutionized coupons is this nifty little phenomenon called voice-activated assistants. The fact that most technology behemoths offer some version or another of voice-based assistants has not escaped the business world’s eye. Once again, the same question arises: How do you use this in the context of coupons? Well, so far, the only known use we have witnessed is the provision of discounts whenever customers order via the assistants. It shouldn’t be long before the world comes up with more ways to utilize this tool.
  3. Better Customer Understanding: Given that there are multiple solutions, such as chatbots and voice-based assistants among others, that are primed to collect information from users like never before. So, businesses gain access to a gold mine of data that, with assistance from artificial intelligence, can be used to understand customers’ interests, needs, and more to come up with coupons that are in sync with all those factors and more.

As evidenced by the above discussion, the union of artificial intelligence and online coupons offers immense scope of growth for businesses. So, when a company decides to integrate AI into location-based apps for offers, it instantly gains the ability to engage more customers and take the business to the next level.

Views: 276

Comment

You need to be a member of Data Science Central to add comments!

Join Data Science Central

Videos

  • Add Videos
  • View All

© 2020   Data Science Central ®   Powered by

Badges  |  Report an Issue  |  Privacy Policy  |  Terms of Service