Millennials continue search for new avenues of fresh
food distribution, cutting the ‘cable cord’, and driving the growth in
grocerant niche Ready-2-Eat and Heat-N-Eat fresh prepared food according to
Steven Johnson, Grocerant
Guru® at Tacoma,
WA based Foodservice Solutions®
Are you attracting yesterday’s customers,
today’s customers or tomorrow’s customers? Punchh,
is a leader in digital marketing solutions for physical retailers, announced
the launch of “Predictive Customer Lifetime Value (PCLV).” This is the first
solution of its kind built specifically for the physical retail world, Punchh
PCLV uses machine learning to calculate the CLV of each individual customer
using projected estimates of the customer’s monetary worth to the business over
time. So, we ask do you have the right mix of customers to drive growth in both
the top and bottom line?
Punchh uses a sophisticated machine
learning model, that restaurants, grocery stores, convenience stores, and
dollar stores can run campaigns that take into account the predictive lifetime value
of any given customer, or target a group of customers within a specific PCLV
range. Do you understand what the right mix of customers is by daypart, meal,
menu?
Punchh CEO and co-founder Shyam Rao stated “Machine learning is ushering in a new
phase of retail marketing where knowing your customer’s history is not good
enough - you need to predict their future,” … “Simple patterns have always been
an important part of retail marketing - knowing which customers come in on a
Tuesday, the profile of a customer who buys one product or another—but now
those are table stakes. The real power of Machine Learning is being able to
predict, down to the cent, which customers are going to be worth your marketing
spend.”
Punchh PCLV can act as a brand’s virtual
data scientist, considering every data input from an individual’s past
purchases to large-scale customer profiling. From the moment a customer makes
their first purchase, Punchh can instantly predict their CLV, then constantly
refines that prediction as the relationship between the brand and customer
deepens. Based on that PCLV, retail marketers can create target segments with
this data to, for example, encourage high CLV segments to enroll in rewards
programs while offering low CLV segments incentives through coupons.
Punchh currenlty is being used by more
than 65,000 physical retail locations across the globe to serve more than 70
million consumers. Mobile referrals through Punchh generate a 60 percent higher
customer lifetime value than when they come through any other channel. What are
your customers worth?
Are
you looking for a new partnership to drive sales? Are you ready for some fresh
ideations? Do your food marketing tactics look more like yesterday that
tomorrow? Visit www.FoodserviceSolutions.us for more information
or contact: Steve@FoodserviceSolutions.us Remember success
does leave clues and we just may have the clue you need to propel your
continued success.
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