LOYALTYLAB

We see the world as a place where no annoying communications exist since every business understands its customers and offer goods even before the need is born. To implement our vision, we decided to begin with the Retail market. There is an enormous number of retailers which store data about their clients and customers who constantly receive mass communication. However, the situation looks dramatic. More than 80% of loyalty card-holders are completely unhappy about offers they receive and ready... to switch to a competing brand if it provides them with a personalized experience. So that our mission is to help retailers and other businesses to unlock the potential of their data in order to anticipate customers’ needs and deliver the best client experience. Based on the retailer’s transactional data and collected external data, LoyaltyLab forecasts the future behaviour of each identified customer. Predictive analytics allows forecasting the time of the visit of the buyer, which allows communicating at the best moment, not annoying with messages at other times. Also, the composition of the future check is predicted, which allows forming recommendations that are relevant at the moment of purchasing. To increase the relevance of the communication even more, the context of purchases from 50+ sources is taken into the account, and optimal discount calculated so that it serves as a pleasant motivation. Thus, the solution allows the retailer to foresee when and for what products the customer will come and select the most relevant products for a personal recommendation, showing that it understands the needs and desires of its customers. The solution drives overall turnover growth up to 10% and up to 5% extension of revenue.More