i-Synergy is building a new tech that combines single login details with frictionless eCommerce experience
The integration of i-Synergy’s affiliate and merchant networks into one app will reduce acquisition costs and create a hybrid marketplace to be deployed on its current user base focussing on 2500 merchants, 1.5 Million users and 40,000 affiliates for its commercialisation.
Affiliate marketing network platform i-Synergy (ASX:IS3) is working on an app which will integrate its two platforms into one, creating a better experience for both users and merchants, a summary of which was included in their latest Investor Presentation announced on ASX on 3 May 2022.
Currently IS3 operates the Rewalty platform, which focuses on blockchain-based loyalty points, and the VTRAK platform which focuses on affiliate marketing, separately.
The core of the app will allow the users to maintain only one login credentials that can be used across all the integrated IS3 merchants allowing the users to create frictionless buying experience and needing the hassle to remember multiple login details.
The new combined app will add new functionalities and create a unique hybrid marketplace that will incorporate a housing marketplace, affiliate marketing and blockchain based loyalty rewards system all in one place.
By combining the services into one unified application, IS3 hopes to reduce the cost of maintaining both platforms separately, and also to facilitate transactions across its services in a seamless manner.
The users will be given one Wallet linked to their account which will allow them to get all their reward points, track transaction history and further add functionalities as the company enters the Nascent technology space.
Another benefit in integrating the networks into one place is that users and influencers will now be able to recommend products and services to their contacts through one app.
This is especially relevant as the new App will offer products and services across multiple industries and market sectors and is geographically diverse.
Users can redeem these loyalty points to pay for products or services on the one customer app, which can be accessed in the wallet or at the checkout page integrated on the merchant’s eCommerce store.
Meanwhile, the marketplace will still have a segment for food, where users can order online using the app such as dine-in or takeaway, and be rewarded with loyalty points for each order to use for other services on the app.
The user will also be able to receive notifications about new product updates and access an affiliate link that they can send to a contact to potentially earn reward points.
How this works is that when a user’s contact signs up on the app, the user will earn a product fee/loyalty points for any product sale purchased.
For example, a user can recommend a tech product to a friend by sending the product with their affiliate link through the app.
When the friend clicks on the link and signs up to the IS3 app and purchases the product, the user will receive loyalty points on their app directly to their wallet.
To make this process more seamless, all users that sign up automatically become affiliate partners themselves when they register, and will be given their own referral code system.
Any user can of course choose whether they want to use the platform this way, or whether they just have a one-off purchase via a referral link.
As an added functionality, the user or affiliate will also be able to register their interests on the app marketplace, allowing them to share links based on certain product or services categories.
Merchants can get customers on their store by signing up with the affiliate network, reward using IS3 points and allow for upselling and reselling the product based on AI customer learning.
If a merchant is then referred to the IS3 platform, and the merchant onboards, the user who referred the merchant gets rewarded with affiliate points.
For the merchants, it’s a win-win situation because they will then be able to sell their products or services as part of the IS3 loyalty program, and to collect user data for future product announcements.
The initial build of the technology completed by August this year to existing databases and customers who are currently residing in Malaysia, Indonesia and Australia.
This article was developed in collaboration with i-Synergy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.