According to the Harvard Business Review, “Acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. Increasing customer retention rates by 5% mean an increase in profits by 25% to 95%.”
REVEALÂ is a Customer Value Optimization (CVO) tool that serves as a unique source of truth about the customers of online retailers. They can understand their best and worst customers by using RFM Segmentation.
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For each of these segments, retailers can then monitor NPS Score, CLV (Customer Lifetime Value), Cohort Analysis, and Average Retention Rate.
Reveal helps them create personalized customer experiences that can empower them to retain their best customers and acquire more like them.
REVEAL empowers Omnichannel Personalization
Together with Omniconvert Explore, email platforms like Klaviyo, and advertising networks, REVEAL empowers Shopify Merchants to personalize experiences according to the relationship it has with each customer: say ‘Thanks’ to a new customer and ask an upset VIP customer what happened, or finding out why an “ex-lover” customer has left, on the right channel, at the right time.
“eCommerce companies can’t ignore customer experience anymore. In such a competitive world, where giants like Amazon are becoming more and more dominant, offering an incredibly diversified range of products, the best chance for Shopify Merchants is to become customer-centric. Putting the customer first means caring. And, caring about the customer means shifting the attention away from what you get as a company, to what the customer gets as a sentient being. It’s about Customers rather than orders. Emotions & experiences are the long-ignored causes of growth. Customer experience needs to align the whole company around a common agenda. That’s why we’ve built REVEAL: To help companies solve exactly this.”
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