A Profitero study showed Target’s online prices were 25% more expensive than Wal-Mart’s, which were just slightly more expensive than prices on Amazon.
CQuotient’s technology harnesses big data from all customer touch points and creates a dynamic predictive portrait for each individual.
Cambridge, Mass. – February 25, 2013 – CQuotient today unveiled its new technology that enables retailers to send highly relevant digital communications to individual customers. By using the most advanced machine learning and predictive algorithms, CQuotient’s technology harnesses big data from all customer touch points and creates a dynamic predictive portrait for each individual. The technology then decides which customers should receive which email message and at what time, and sends automated emails that are hyper-personalized for each recipient.
Email remains the best marketing channel for retailers looking to get more revenue from their customers. Not only is it inexpensive, easy to personalize and highly trackable, but email also has the broadest reach to store, Web and mobile customers alike. As customers have come to expect more from the retailers they frequent, the “batch and blast” email approach is no longer sufficient. Customers are looking for more personal communications tailored to their interest, taste and buying behavior.
“Retail is a tough business and is only getting more competitive with the growing might of Amazon, the rise of showrooming and the ubiquity of smartphones,” explained CQuotient Founder and CEO Rama Ramakrishnan. “Retailers understand that the only way to survive and grow is by developing loyal customers and getting them to spend more with you than with the competition. Retailers are already making thousands of decisions a day to entice customers – price changes, new receipts, promotions, etc. The key is surfacing the specific enticements that are most relevant to an individual customer. In this way, your marketing can become a customer service, not a promotion. This is what CQuotient does, and the demonstrated increases in both engagement and revenue prove that it works.”
The Children’s Place, the largest pure-play children’s specialty apparel retailer in North America, uses CQuotient’s solution to better understand all its customers. With CQuotient, the company has deep visibility into every customer’s behavior and can communicate with them in meaningful and engaging ways.
“We use CQuotient to surface data-driven insights about our customers,” commented Mike Dupuis, vice president of ecommerce at The Children’s Place. “CQuotient is helping us by understanding more about them as individuals, enabling us to more accurately predict future behavior and tailor messages. CQuotient makes this easy for us to execute, and we like the results.”
CQuotient’s capabilities include:
- One-to-One Content: The technology dynamically tailors the content of email messages to each individual recipient to make it as relevant as possible. Using pre-built dynamic content containers within a retailer’s email templates, CQuotient can show any number of specific in-stock items that the recipient is likely to find interesting. Combining this with the ability to show a specific offer that triggers the particular behavior a retailer wants from that customer results in a truly unique and compelling message to every individual customer on a retailer’s email list.
- Predictive Segments: The technology automatically assembles segments based on customer lifecycle, merchandise propensities and channel preference. CQuotient’s advanced models predict who is most interested in which messages, enabling retailers to precisely target their message to those who most want to hear it.
To learn more about CQuotient, visit www.cquotient.com or stop by booth #117 at eTail West, being held February 25-28 in Palm Desert, California.
CQuotient offers retailers break-through technology for hyper-personalized email marketing. By capturing data from every customer touch-point, mining behavioral signals using advanced predictive algorithms and overlaying deep retail domain knowledge, CQuotient enables marketers to drive substantial incremental revenue via highly relevant, individualized emails. For more information, please visit www.cquotient.com, follow us on Twitter @CQuotient or join the conversation on the CQuotient Blog.