BEIJING, CHINA, August 16, 2021– Infobird Co., Ltd (Nasdaq: IFBD) (“Infobird” or the “Company”), a software-as-a-service provider of innovative AI-powered, or artificial intelligence enabled, customer engagement solutions in China, announced today the launch of a new intelligent SaaS product - WeChat Call Center - marking the Company's entry into the field of private domain traffic. An integral part of the Company’s standardized SaaS strategy, Infobird’s WeChat Call Center is designed to help companies further develop the value of existing customers through automated and personalized solutions for private domain traffic. For companies, private domain traffic is considered to be part of the brand’s private assets that can be used to stay relevant in the mind of the customer which increases the chances of a returning customer. By expanding Infobird’s product application boundaries and business scope, the Company expects to generate significant value by creating new demand and capturing uncontested market space in a cost-effective manner, otherwise known as a “blue market strategy”.
Infobird WeChat Call Center: automated/personalized interactions to gain value from existing customers
Infobird combines the advantages of Enterprise WeChat and Call Center to create a new generation of customer interaction platform - WeChat Call Center. This product integrates AI, RPA, also known as Robotic Process Automation, and other
technologies to provide enterprises with automated and personalized private domain traffic solutions that help companies retain customers and continue to stimulate theirconsumption potential.
Different from the common private domain traffic tools in the market, Infobird's WeChat Call Center is based on AI, RPA, customer portraits and other technological capabilities, which is capable of 1v1 personalized and automated services and marketing for enterprise clients, while ensuring the continuity and consistency of customer interaction. For enterprises with a relatively large customer base, Infobird's WeChat Call Center has significant advantages in batch, automation, and personalization of services that can help clients comprehensively improve efficiency and reduce operating costs. Infobird’s WeChat Call Center builds private domain traffic for clients, that not only aggregates multi-channel customer resources into Enterprise WeChat, but also connect public domains to private domains, achieving unified operation of all channels including Enterprise WeChat, phone calls, SMS, webpages and APPs. It maximizes the convenience of daily operations of the client and improves the efficiency of customer interaction
As existing customer retention becomes increasingly important, private domain traffic becomes a blue ocean market
In the new marketing era, due to the low accuracy of offline traffic and the monopoly of online traffic by domestic Internet giants, the cost of high-quality sales leads is increasing in China. According to the data analysis by eMarketer, CCID and BJNews.com.cn, the customer acquisition cost from online traffic in China has increased by more than 10 times from 2010 to 2019. However, constantly acquiring new customers is not the only key to unlock revenue growth. According to a study from Harvard Business Review, a 5% increase in customer retention rate can translate into an increase in profits by 25% to 95%. Another study authored by Rob Markey, Director and Partner of Bain & Company, published on Harvard Business Review on January 2020 also found that companies with higher customer satisfaction grow revenues roughly 2.5 times as fast as their industry peers, highlighting the importance of customer management. Recognizing the significant benefits, companies are increasingly focused on the next stage of marketing which will require building long-term relationships with customers, creating their own private domain traffic, enhancing customer life cycle, and increasing the customer retention rate. In the Chinese market, WeChat is the major platform when a company wants to acquire private domain traffic. According to official data released by WeChat and founder of Wechat in 2021, there are 1.2 billion WeChat users and more than 1 billion daily active users. Enterprise WeChat is the official channel for enterprises to interact with customers certified by WeChat. The private domain traffic based on Enterprise WeChat is a significant market opportunity for Infobird.
With the explosive development of big data, artificial intelligence, 5G and other technologies, the commercialization degree of AI and RPA becomes higher, increasing its critical function role in customer service, marketing, and management of the business. As a result, enterprises can provide services to customers more intelligently and efficiently. Managing private domain traffic through AI, RPA and other technologies to realize the value of customers throughout their life cycle has become the key to developing modern customer relationships and achieving marketing growth.
With significant demand of private domain traffic in the retail/healthcare industries, Infobird plans to accelerate the implementation of WeChat Call Center
The trend of transformation from pure public domain to public to public plus private domain applies to all companies across industries whose target customers are individual consumers, and this is especially true for retail, consumer goods, e-commerce and healthcare industries. This supports the very high market potential for the implementation of private domain applications. These industries have large customer groups and broad market space but face increasingly fierce competition. This market dynamic has led to the realization that maximizing the value of existing customers is an important way to drive growth, making the demand for intelligent private domain traffic solutions more prevalent.
Since the implementation of its standardized SaaS strategy, Infobird has continued to upgrade its products and solutions. The launch of the WeChat Call Center is an important step for the Company to continue to grow its market share and recognition as an innovative SaaS Company in the fast-growing standardized customer-engagement services and solutions market.
About Infobird Software Co. Ltd.
Infobird, headquartered in Beijing, China, is a software-as-a-service provider of innovative AI-powered or enabled customer engagement solutions.
For more information about the company, visit www.Infobird.com.
This press release contains certain forward-looking statements, including statements with regard to Infobird’s proposed initial public offering. Words such as “will,” future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed initial public offering discussed above will be completed on the terms described. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Infobird, including, without limitation, the failure of customary closing conditions and the risk factors and other matters set forth in the prospectus included in the registration statement in the form last filed with the SEC. Infobird undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Infobird Co., Ltd
Yimin Wu, Chief Executive Officer and Chairman of the Board of Directors
Infobird Co., Ltd Investor Relations
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