The Silicon Review
In today’s highly globalized world, consumers are spoilt for choice and consequently have almost zero brand loyalty. This has necessitated a contextual and predictive approach to customer engagement that is fundamental to the success of businesses today.
Supported by AI and machine learning capabilities Perx, as a firm, is in pole position to help businesses deliver highly relevant and targeted recommendations to users. The broken customer communication model provides a prime opportunity for Perx to leverage the significant amount of data it obtains from its customer loyalty functions for insights. This enables corporations to better understand and therefore, more effectively engage their customers for a higher retention rate. In view of this, Perx’s has immense potential in becoming the global leader in customer engagement.
Walking down history lane – Reinvention of Perx as a Customer Engagement Platform
Perx has a legacy dating from 2011 as the pioneer in the mobile customer loyalty space in Asia. It was designed to replace the physical card and stamp loyalty process with the digital capabilities offered by mobile devices. Anna Gong (Founder) came on board in 2014 as the new CEO of Perx, changing the direction of the company as it was deemed to be unsustainable in the face of changing market factors. At that point the biggest hurdle was to integrate Perx’s new vision with the existing culture and values.
Teams were restructured, the new vision and mission of the company was evangelized and a new set of core values was developed. It was the perseverance and invaluable support from the team and investors that proved vital in tiding Perx through this complicated chapter in our growth story. Surmounting all the hurdles, Perx is more accurately described today as a cloud based end-to-end customer engagement platform with a focus on predictive analytics. The platform provides innovative solutions powered by cutting edge AI and machine learning algorithms to spur customer engagement.
Sustaining bumps along the way
Although Perx found tremendous success when it was first launched, the firm failed to take into account the speed at which the market would evolve. This gave rise to a deluge of similar services in the loyalty platform space that generated intense competition amongst the players fighting for market share.
Perx was able to capitalize on their extensive experience in understanding the challenges of what large B2C enterprises are faced with, along with a deep customer loyalty expertise, and leveraging the data to solve the broken consumer engagement model inherent in most corporations. This facilitated the reinvention of Perx into its current form today.
Through this experience, the firm has garnered that constant reinvention is key to avoid being disrupted, an extremely tangible danger in today’s fast moving digital environment. That is why it wouldn’t be wrong to say that Perx is a perfect example of why success should never be taken for granted, but should be treated as an ongoing effort to ensure that a business remains ahead of the competition.
Driving their way to success
The ability of the team to smartly engage with customers in a non-traditional manner, leveraging AI and Gamification and executing in a speedy, cost effective fashion, has been a key factor in clients choosing Perx. With most of their new customers being referred by existing ones, the market has responded really well to what the firm has to offer. Perx’s team of passionate and purpose driven individuals who are experts in their roles, all marching with great conviction to build world class solutions is its biggest asset.
The firm’s mission is to help organizations of all sizes in transforming how they acquire, engage, and reward their customers anywhere, anytime. Years since the startup’s launch, they continue to stand by this purpose. Keeping up with the changing times, the firm has opted to leverage the latest Artificial Intelligence technologies to help organizations to drive revenue and sustainability through smarter customer engagements.
Perx offers a customer loyalty function for consumers. On the whole however, the key value proposition from Perx is an end-to-end customer engagement platform complemented by a focus on A.I. powered personalization and intelligent data for decision making.
On the marketing front, while the conventional approach is to focus on garnering click-through, page views, likes, and downloads, Perx opts to use information driven approach, leveraging insights from the aforementioned data to analyze, learn, and predict consumer behavior. This allows Perx to empower its partners to deliver personalized and contextualized recommendations to their customers to create more effective engagement.
Client satisfaction all the way
In the B2C business, Perx currently serves more than 400,000 users with rewards from more than 200 partners. Their B2B clients include large tier one global and regional enterprises in financial services, insurance, telecommunications, travel, and retail.
One notable success story is Perx’s collaboration with EZ-Link, the contactless smart card synonymous with life in Singapore. With more than 7 million transactions a day, EZ-Link sought a way to effectively engage their customers in real time. With Perx, users of EZ-Link were encouraged to register their cards on the loyalty platform, with rewards issued based on the number of rides they took.
Out of 3.5 million consumers, the firm has achieved consistent redemption and engagement rates at an average of 70% and above. With traditional loyalty programs typically achieving single digit engagement rates, crossing the 50% mark is a feat in itself. This is just the tip of the iceberg. Perx has numerous success stories in the same vein making it one of the most preferred options among clients.
Dreaming of a better tomorrow
The firm intends to continue in investing in A.I. powered engagement solutions and further work with large global and regional organizations to build better customer relationships and business models with their eco-system. Their goal is to help these complex organizations execute with purposed built A.I. solutions in large consumer focused verticals.
The woman steering it all
Anna Gong is the CEO and Founder of Perx Technologies Pte Ltd. She possesses 20 years of technology experience in management consulting and enterprise software, spanning continents. Anna holds a Bachelor of Arts degree in Economics from the University of California, Los Angeles (UCLA).
“Walking a mile beyond the ordinary while leveraging AI and gamification in an endeavor to offer world class solutions to the contemporary industry problems.”