RetentionGrid Expands It’s Ecommerce Analytics To BigCommerce
RetentionGrid a Berlin based startup recently announced that their early investors was actually the founders of the early stage Soundcloud group. The startup closed the round back in September 2013 for 520,000. The round was led by Connect Ventures, angel investors including SoundCloud founders Alex Ljung and Eric Wahlforss also contributed to the funding round. Today, the startup announced that they will integrate the BigCommerce ecommerce platform into their services.
RetentionGrid is a data analysis ecommerce system that provides in depth analytics for individual ecommerce shop owners. Step-by-step, activity-by-activity, RetentionGrid’s application learns from your data, tells you what to do or adapt, and helps you keep your customers coming back. You don’t need to analyze complicated data, or figure out new tactics, or wonder if your marketing is working. RetentionGrid takes care of this for you. All you need to do is visit the app once a week, see what should be done, and click a button or two. Sounds pretty simple and straight forward, but how exactly does the process work?
The extension uses a method called opportunity mining. Opportunity Mining is a method of data discovery whereby RetentionGrid analyzes the data from your shop in real time to find patterns and trends in your customers’ buying behaviors and product preferences. The application uses this data to create predictive clusters of customers, showing when they will be willing to buy from you again, and what they are likely to want to buy. If you are familiar with how ad networks like google adwords/adsense work, then you should understand that the process is quite similar. In other words, it is re-targeted and relevant data.
Another cool feature that makes this startup unique is the notifications that you receive. When RetentionGrid identifies a selling moment — a time when you should reach out right now to a group of customers, based on your shop’s data — it sends you an Opportunity Alert via email and in-app messaging. When you click on the link in the Opportunity Alert, the application opens and shows you these “ready to buy” customers mapped onto the colorful Grid of loyalty segments. It even shows you how much the revenue opportunity is predicted to be worth to your business.
You could also run campaigns with RetentionGrid. The application not only helps you craft meaningful and customized messages, but you can also choose to have it insert your most popular products into all the campaigns that you send out. This allows you to create customize campaign targeting the correct customers.
RetentionGrid has already been around for Shopify and a few other ecommerce platform, but today they announced that they will join forces with another known ecommerce platform, BigCommerce
To learn more about RetentionGrid check their site here: