Retina, which uses AI and predictive analytics to determine the lifetime value of online customers, today launched Retina Go!, a free service for small to middle-market e-commerce businesses, providing individual customer intelligence that guarantees a lower cost per acquisition (CPA) by up to 20-30%. The predictive analytics report is delivered within 24 hours. Businesses that implement Retina’s customer intelligence platform typically double the return on ad spend (ROAS) industry average. It is the only free trial on the market and is also the only platform to provide its customers with a data scientist dedicated to their account.
“E-commerce companies are leaving tens of millions of dollars on the table,” said Retina co-founder and CEO Michael Greenberg. “While most marketing teams and agencies are focused on converting as many customers as possible, Retina tells businesses which customers to stop wasting ad dollars on and how to optimize ad spending to focus on and incentivize only the loyal customers. Our technology enables businesses to know the future spend of all of its customers with 98% accuracy.”
Mirroring the same in-depth customer intelligence of the largest enterprises, Retina’s new pilot program provides the framework for businesses of any size to manage the customer acquisition costs (CAC) better, improve customer retention and grow customer lifetime value. Retina has worked with a variety of companies – businesses ranging from 500 to 500,000 customers in size – and processed hundreds of millions of data points to refine its model and compute customer lifetime value (CLV) better than anyone in the industry.
Retina’s business strategy was recently confirmed by renowned venture capital investor, Mary Meeker’s 2019 Internet Trends Report, which stated that “The reality is that the cost of customer acquisition can’t exceed customer lifetime value for very long.”
To get started, businesses simply upload anonymized customer data to the Retina Go! free trial, and within 24 hours, Retina provides the following:
- Reports — Detailed analysis on the CLV of the company’s customers on an individual level, including predicted churn date, lifecycle segmentation and trends in CLV over time, distribution of customers by segment, customer value-based Facebook look-alike audience campaign, etc.
- Recommendations — Actionable insights on predictive behavior and marketing ROAS
- Resources — Access to a Retina data scientist that can explain the data and work with businesses on next steps to optimize marketing activities
Retina’s platform is compatible with businesses’ existing systems and was built by technology and data sciences experts who have led teams at Facebook, Google and PayPal. Retina’s platform has already helped fuel the growth of e-commerce giants such as Dollar Shave Club, Backcountry, Madison Reed, Ritual and DSTLD.
Located in Santa Monica, Calif. and backed by Comcast Ventures, Retina brings the power of artificial intelligence and machine learning to the single most valuable metric for marketers: customer lifetime value (CLV). Using insights from Retina, e-commerce disruptors can optimize their marketing mix based on Retina’s highly accurate long-term customer value and cost per acquisition modeling. For more information, visit: https://retina.ai/