Retention Science, a company using big data to help online retailers retain customers and maximize their lifetime value, has formed an integrated partnership with Campaign Monitor, a leading email marketing provider. Through the strategic integration, Campaign Monitor’s user-base gains access to a retention automation platform that helps re-engage customers by sending them the right offer at the right time.
Retention Science collects and analyzes customer data – from demographic information to purchase history to website behavior – and uses that data to personalize email offers that meet the individual preferences of each customer. Predictive algorithms are used to determine a customer’s price sensitivity, and Retention Science’s platform automatically designs promotional offers at the minimum threshold necessary for that customer to convert, raising retailers’ profit margins.
“One size does not fit all when it comes to incentivizing shoppers, and it’s not only futile to market to them all the same way, but it’s also costly to squander offers when they’re not necessary for conversion,” said Jerry Jao, CEO of Retention Science. “By leveraging our retention marketing solutions, Campaign Monitor’s customers can intelligently predict churn, re-activate dormant customers and re-engage existing customers before they lapse – all leading to greater customer retention.”
Combined with Campaign Monitor’s advanced email marketing functionality, online retailers can create personalized email campaigns that are more targeted, timely and effective than ever before to magnify their customers’ lifetime value. “This type of predictive technology was previously relegated to e-tail giants like Amazon and Zappos, and now all of our users can leverage the intelligence and automation built into Retention Science’s platform to remove the guesswork from their retention marketing campaigns,” said Campaign Monitor.