News Release

Leading provider of SaaS-based marketing tools Utilizes Artificial Intelligence to Offer Industry-Leading Solutions

BOCA RATON, Fla., June 27, 2023 (GLOBE NEWSWIRE) -- springbig (the “Company”) (NASDAQ: SBIG), a leading provider of SaaS-based marketing solutions, today highlighted its use of artificial intelligence to align consumers, retailers and brands in this evolving era of business innovation. The Company launched its first artificial intelligence-based solution in April and today followed up with a new AI Assistant tool.

springbig's new AI Assistant is a new tool that allows cannabis retailers to leverage artificial intelligence to write engaging content for their email campaigns. The AI text generator powered by OpenAI's language model, GPT-3.5, is a game-changer for businesses looking to improve email copy, increase customer engagement, and improve efficiency. Currently, this ability is only available for emails, but will soon be made available for other types of campaigns in the future, including SMS.

Artificial intelligence is rapidly revolutionizing the field of technology and impacting business across all industries. springbig remains committed to helping its clients increase retention, boost revenue and build customer loyalty by offering artificial intelligence-based solutions like the Brands Marketplace feature launched in April of this year. The Company’s first AI-based tool uses consumer data to help its retail clients make data-driven decisions. The feature also provides retailers with valuable insight into how each brand aligns with their consumers’ wants and needs, equipping them with the ability to purchase wholesale brands and products that their consumers desire.

“As it becomes more ubiquitous in everyday life, the phrase ‘artificial intelligence’ is met with skepticism and, potentially, animosity,” said Jeffrey Harris, CEO of springbig. “However, strategically used artificial intelligence has the ability to optimize workflow and enhance the consumer experience. Our work with Heed and Pluggi and new suite of AI features is the beginning of what can be a collection of tech-forward solutions that will benefit our clients and reshape our industry. I am eager to learn more about how we can continue to use artificial intelligence to build a brighter future in tech, cannabis and beyond.”

springbig has established partnerships with forward-thinking tech companies using artificial intelligence to enhance the consumer marketplace. Heed, a conversational AI recommendation platform, collaborated with springbig to develop a recommendation engine that suggests relevant products and categories to consumers. The integration streamlines the purchasing process and enhances customer satisfaction by aligning products and services with consumers’ preferences. Additionally, springbig partnered with Pluggi to integrate their AI budtender widget into its platform. The integration drives loyalty rewards enrollment and offers pertinent data that dispensaries can use to develop personalized marketing campaigns. Together, these AI-powered solutions align consumers, retailers, and brands, to result in the optimal consumer marketplace.

For more information regarding springbig's latest artificial intelligence based solutions, please visit https://springbig.com/.

About springbig
springbig is a market-leading software platform providing customer loyalty and marketing automation solutions to retailers and brands in the U.S. and Canada. springbig’s platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers’ and brands’ customer engagement and retention. springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, springbig’s reporting and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends. For more information, visit https://springbig.com/.

Forward Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of federal securities laws. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the risks and uncertainties described under “Risk Factors” ’of the registration statement on Form S-4, the proxy statement/prospectus relating to the business combination, the Company’s Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on June 21, 2022, and in the Company’s Form 10-Q for the period ended September 30, 2022 filed with the SEC on November 14, 2022, and other documents filed by the Company from time to time with the SEC. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of springbig), and other assumptions, which may cause the actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.

Investor Relations Contact
Ryan Flanagan
ICR Strategic Communications & Advisory
ir@springbig.com

Media Contact
MATTIO Communications
Phoebe Wilson
springbig@mattio.com