Direct-to-Consumer (DTC) brands have been on the rise for the past several years, their adoption accelerating with the pandemic. With their plethora of customer data and an inclination toward adopting the latest technologies, some have been earlier adopters and beneficiaries of the power of automated predictive analytics to serve their customer and business needs.
Squark’s co-founder and co-CEO, Judah Phillips, reviews the most common use-cases where DTC brands see success.
1. The Cost of Customer Acquisition
Answer the question of what your customer acquisition cost should be for any segment or channel. As targeting algorithms of platforms evolve, the makeup of your segments changes or you launch new products, these numbers will update in real-time to be confident you are maximizing efficiency and results.
2. Which Customers Will Subscribe
AI can score your list of prospects in real-time, using your historical data as they move through the funnel to predict their likelihood of becoming customers. Then, sales and marketing teams can tailor their engagements based on the real-time results.
3. Customer Recommendations
Content recommendation, upsell recommendations, engagement recommendations. Any list containing historical customer data can be analyzed for patterns that can be applied to your current data. Identify the right offer for the right customer at the right time.
4. Customer LTV
Know from day one your customer’s projected lifetime value. This knowledge allows you to proactively segment customers into specific flows with promotions or restrictions based on their total projected profitability, maximizing your revenue and minimizing risk.
There are different types of churn and ways to look at it. Regardless of your company’s view, predictive analytics allows you to forecast the likelihood of a customer churning. Armed with this information, you can tailor your lifecycle plans to turn that churn into retention.
Squark works with a number of customers to solve these use-cases. Our no-code predictive analytics allows for data integration and modeling in just a matter of clicks. In addition, the scheduling feature means your updated results will be delivered exactly when you need them. Meet your customer where they are today and know where they are going in the future to provide the best possible customer experience.
Watch the entire webinar with Squark’s co-founder Judah Phillips to hear more about the top 5 predictive analytics use cases for DTC brands, or click here to demo Squark’s innovative solution and discuss how Squark could help your business.
Squark is a no-code AI as a Service platform that helps data-literate business users make better decisions with their data. Squark is used across a variety of industries & use cases to uncover AI-driven insights from tabular and textual data, prioritize decisions, and take informed action. The Squark platform is designed to be easy to use, accurate, scalable, and secure.