Product Usage Data Connects Brands and Customers to Create Meaningful After-Sale Engagements
Blustream, a leading after-sale customer engagement company, today announced it has raised $3 million in funding to power the brand-customer relationship with product usage data and fuel digital transformation efforts for physical goods companies via the Blustream Product Experience Platform. York IE led the round of funding with additional support from existing investors.
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Recent research shows that 54 percent of US-based consumers say customer experience at most companies needs improvement. Blustream bridges this gap and helps companies to build meaningful after-sale connections with customers through its SaaS-based Product Experience Platform. By integrating with real world data, Blustream’s platform collects aggregate usage, environment and performance analytics for brands to deliver automated education, alerts and purchase recommendations to end-users.
“After a consumer makes a purchase, brands have no value-added connection or relationship. Existing systems fall short because they aim to help brands get the initial sale, not build an ongoing relationship with the consumer,” said Ken Rapp, CEO of Blustream. “Retailers should recognize that the common denominator between their brand and customer is the product. Blustream is powering the brand-consumer relationship with real-world product data, allowing companies to fuel digital transformation efforts with the data necessary to continuously engage with their customers.”
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While post-sale customer service has been the norm, many companies lose out on the opportunity to engage customers outside of a customer service inquiry. With Blustream’s Platform, Product Journey Templates power the product-to-customer engagement experience and allow companies to continuously provide recommendations to customers. Real-world-data is monitored to trigger customer engagement actions in the customer-product relationship, including product alerts, education, and purchase recommendations at exactly the right time. These data points then become actionable insights to power digital transformation.
Blustream’s powerful platform and product recommendations has allowed CEOs, CMOs and digital transformation leaders to see reduced churn, three times lifetime value, and more than 25 percent revenue growth. This round of funding will allow for continued evolution of the Product Experience Platform and provide investment to build upon the sales and marketing foundation that Blustream has created to meet growing demand.
“While many companies try to address customer needs post-purchase, they fail to take the product and customer experience into consideration,” said Kyle York, CEO and cofounder of York IE. “Blustream gives brands a direct line to their customers, not to provide customer service, but to provide a seamless customer experience to build meaningful relationships. This new way of engagement opens up a world of opportunities for brands to improve retention, increase sales and drive advocates.”
