Thanx Enhances Machine Learning Platform with Personalized Winback to Reduce Churn for Restaurants and Retailers
SAN FRANCISCO--(BUSINESS WIRE)--Nov 20, 2019--
Thanx, a leading provider of digital guest engagement and retention tools for retailers and restaurants, today announced an enhanced offering for intelligently identifying and winning back valued guests with a high risk of churn. Thanx Personalized Winback uses an advanced ensemble-based Machine Learning algorithm to predict the churn likelihood of an individual guest based on nearly 40 data points, including spend and visit frequency compared to past behavior, recent and historic customer satisfaction, average check, LTV, likelihood of reacquisition and more. Once identifying the right at-risk guests, Thanx Personalized Winback automatically encourages those guests to return with personalized incentives.
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Personalized Winback powered by Machine Learning (Graphic: Business Wire)
Based on this cutting-edge Machine Learning capability, Thanx predicts an individual’s likelihood of churn faster and with a higher degree of accuracy than traditional retention programs. Because other methods fail to understand the unique behavior of each guest as well as the cost-benefit of winning that individual back, merchants distribute unnecessary and costly incentives. These programs also train guests to anticipate discounts at regular intervals, resulting in fewer visits and less revenue.
Thanx Personalized Winback identifies at-risk guests more intelligently, so merchants benefit from significant cost savings and higher retention. Merchants can address and resolve operational and personnel issues sooner, delivering a superior level of customer service and ultimately, build stronger brand affinity with guests.
“Thanx’s latest innovation now adds machine learning to make retaining customers even more efficient, allowing us to bring in ‘lost’ revenue in a cost-effective way and track the returns. Thanx is leading the way in advanced, data-driven CRM making it easy for us to launch high impact campaigns despite our limited marketing staff and resources,” Keith Cox, CEO, Pacific Catch
Thanx Personalized Winback is just one of many Machine Learning use cases supported by the Thanx platform. Thanx’s platform infrastructure was designed from the ground up to handle Big Data and broad Machine Learning use cases at scale.
“As a result of this and other Machine Learning capabilities, we’re able to offer our merchants industry-leading tools to delight and retain their guests,” said Thanx CEO and Founder, Zach Goldstein. “By allowing merchants to deeply understand guest behavior and act on it immediately without any effort, Thanx is changing the standard for customer retention programs in the restaurant and retail industries.”
To read more about this capability, please visit Thanx’s website here.
Thanx ( www.thanx.com ) is a digital guest engagement platform for restaurants and retailers. Our integrated CRM, marketing automation, loyalty, feedback, and digital experience platform delivers deeper, data-driven relationships that increase same-store sales and lifetime value from top customers and acquires more who look like them. Creating long-term loyalty is about far more than rewards, which is why Thanx combines customer feedback, referral marketing and segmented, multi-channel and real-time messaging into a single platform. As a result, Thanx turns good customers into raving fans and measures the impact of every customer communication in measurable incremental revenue generated through deep integrations with credit card networks and point of sale (POS) systems. Thanx was founded in 2011 and is headquartered in San Francisco, CA. The Company is financially backed by some of the best venture capitalists in the industry including Sequoia Capital.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191120005123/en/
CONTACT: Emily Rugaber, Head of Marketing, Thanx
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: SOFTWARE RESTAURANT/BAR NETWORKS OTHER RETAIL INTERNET DATA MANAGEMENT TECHNOLOGY RETAIL
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PUB: 11/20/2019 09:00 AM/DISC: 11/20/2019 09:01 AM