WETIKI, or the challenges of a growing team

Here at Custora, we’ve been fortunate to double in size since the beginning of the year. With growth, come challenges – one of them is communication among different teams and individuals.
Dan, Dave, Martin, and Aubrey came up with a short video to promote team communication, knowledge sharing, and healthy eating. Here it is for your viewing pleasure (not recommended while eating).

 

 

P.S – here‘s how you too can join our growing, WETIKIing team.

Relationship Marketing In Custora – New Software Release

“What can we do this month to nurture ‘almost VIP’ shoppers into ‘VIP’ customers?”

 

“What churn prevention tactics do we have in place for our highest value customers?”


“How are we converting our 1x buyer, fashion-focused customers to make a 2nd purchase?”

 

We all know marketing is about building long-lasting relationships with our customers. Yet with all the new marketing technology that has emerged over the past few years, we still find ourselves caught up in the busy short-term needs of manual list pulls and frenzied scrambles to get the daily email out the door. Marketing is busy, and marketing is hard — and there is usually little, if any, time for questions such as the ones above.

 

The new release of Custora is designed to make these types of conversations a reality. Over the past few years, we’ve been fortunate to work with some of the biggest names in retail, large and small, and young and old — and we’ve expanded the software to capture best practices across the board.

 

These include the “playbook” that most successful retail marketing teams follow for formulating and executing marketing strategy:

  • Opportunity sizing and prioritization: what opportunities emerge from the data — and where should the team focus its time and resources
  • Testing and iteration: what ideas and messages are the most effective for reaching different customer segments
  • Automation: how can the best ideas be automated to create a sustainable “retention system” over time?

 

How do teams actually use the new release in practice? Let’s imagine that BigStore USA, an ecommerce retailer, were to log in to the new retention dashboard. They’d see a breakdown of the most important customer-centric Key Performance Indicators (KPIs), tracking the strength of their relationships with customers throughout the lifecycle. (Click here to learn more about these KPIs.) And an opportunity sizing would show them the gains, that they could expect, benchmarked against results from similar retailers.

 

Exploring their data, they might discover that their most significant opportunity involves increasing the purchase rate of customers who are active and engaged with the brand. By navigating to the Retention Marketing Manager, they could then access the full array of triggers available to them to reward and deepen the loyalty of their most valuable customers. They would also discover the opportunity to launch “programs”: recurring campaigns focused on strategic segments of customers, like their VIPs and almost-VIPs.

 

BigStore USA would try a variety of ideas to surprise and delight their VIPs. One month they might try exclusive sneak-peek access to a new shoe collection; the next, they might try a thank-you note from the CEO. And for their “almost VIPs,” they might try rolling out the red carpet with free shipping upgrades and personal shopper consultations.

 

As they experimented with different approaches to loyalty cultivation, they would discover what ideas worked best for each segment — and the retention dashboard would track exactly how much their efforts were moving the needle on the relevant KPI. Over time, they would continue to iterate and automate their best-performing ideas to capture the full opportunity from this segment.

 

We’re excited to have the opportunity to share this new release — stay tuned to learn more about how other retailers are using Custora to power relationship marketing!

Our recent round of funding and what’s next for Custora

Custora just announced a $6.5MM Series A round of funding from VC firms Foundation Capital and Greycroft Partners. We wanted to share some of our thoughts on the journey so far, what’s to come in the year ahead, and of course say thank you for being a part of it all.

 

It’s an equally exciting and challenging time to be a retail marketer.

On one hand, brands have never before had access to so many ways to communicate with their customers. Everyday you get emails about the brands you care about. You can “follow” companies and actually have conversations with them. Nasty Gal has 1.5 million fans on Instagram. McDonald’s actually responds to questions on Facebook. The President recently hosted an Ask Me Anything on Reddit. It’s crazy. This is a marketer’s dream, so many direct ways to interact with customers.

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[Press Release] Custora Raises $6.5MM Series A to Integrate Predictive Customer Insights into the Marketing Cloud

New funds will accelerate Custora’s product development and growth; helping marketers improve customer acquisition and retention.

 

New York, NY – April 7, 2015 – Custora, a marketing software startup based in NYC, announced today the close of a $6.5MM Series A led by Foundation Capital with participation from Greycroft Partners and Valhalla Ventures. The new funding will enable Custora to scale out sales and marketing and more rapidly develop the company’s B2C marketing software platform. Custora, a Y Combinator company, raised its seed round in 2011 and has been growing based on customer revenue over the past few years.

Custora provides a predictive marketing platform built for e-commerce teams. Its software analyzes data to predict how customers will behave in the future – the things they’re likely to buy, how much they’ll spend, even how often they’ll shop. These customer-specific insights enable brands to advertise and communicate in more effective and meaningful ways.

“It’s a new type of software – part predictive analytics, part B2C marketing automation,” says Corey Pierson, Co-Founder and CEO of Custora. “The goal is for marketers to spend more time thinking about how to treat their customer segments at different points in the buying cycle, and less time caught up in data analysis and list management.”

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