CRM and Digital Guest Engagement Platform Expands Offerings to Quickly and Accurately Identify At-Risk Customers
Thanx, a leading provider of digital guest engagement and retention tools for retailers and restaurants, 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.
“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.” – Keith Cox, CEO, Pacific Catch
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.
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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
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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.”
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