The right kind and amount of data can make or break a marketing campaign. It’s the lifeblood of the industry, making it essential for marketers to find the best ways to find and generate the info that can help them create a solid marketing plan. The problem is, they’re not always readily available and interpreting them can also be an undertaking.
Designed to help businesses save hard-earned money from unproductive and unresponsive audiences is Retina. This startup is made to analyze data to get a closer look at customer behavior. They then use the information they gathered to predict the future buying behaviors of customers. Such details determine the future lifetime value of customers, allowing brands to know whether they should continue to target the same customers or not.
Simply put, Retina can tell businesses which customers they should stop spending their efforts and ad dollars on as there’s a good chance that they won’t make a sale from them. They can also identify which customers deserve ad spending on, due to their loyalty and consistent demand for the brand’s products and services. It can help point your marketing efforts in the right direction, promising better ROI from your spending.
By using artificial intelligence to gauge the value of a brand’s relationship with a customer, they can gain foresight in conducting their businesses. They use powerful tools to deliver the information to your dashboard so you can better analyze the information and utilize it accordingly. You can use this tool, not just for customer acquisition and retention but it will also prove to be handy in providing customer service, understanding your product’s appeal better, and in evaluating your marketing performance.
How does it work? The process may sound complicated but it’s really not. You just need to provide access to your database and it will already do what it has to in order to provide you the details you need to enhance your brand’s marketing efforts.