ML Developments Driving Customer Lifetime Value Across Entire Consumer Base
Machine learning is heralding a new age of retail marketing, where knowing the customer becomes the key to success.
FREMONT, CA: The world leader for innovative digital marketing products for physical retailers releases its new Machine Learning (ML) based Predictive Customer Lifetime Value (PCLV), to predict the lifetime value of each customer.
Devising a more personalized experience between the brand and consumer helps retailers strengthen their business. But brands have less information about these anonymous consumers, including consumers who pay in cash, and what they are buying. With Punchh's machine learning initiative, brands can now track online and in-store customer behavior that helps them target their marketing and predict monetary trends. Retailers can also run campaigns that take into account the predictive lifetime value of any given customer and use the information to predict what customers will be purchasing and what sells best online and in-store.
Based on the analysis, retailers can target groups of customers within specific PCLV ranges. From the minute a customer enters in and makes their purchase, Punchh estimates their CLV based on past behavioral patterns, and continuously refines that prediction as the relationship between the brand and that customer deepens.
Punchh is the exclusive unified marketing platform for both customer acquisition and lifetime value growth. By coupling technology and services, Punchh enables brands to delight customers with compelling and seamless customer experiences that not just capture their loyalty, but increases the frequency of visits and wallet-share. Its mission is to help brands tailor personal, lasting, and profitable relationship with their customers, powering all these experience on behalf of brands.
Punchh is being used by more than 65,000 retailers across the globe to serve more than 70 million consumers.