Free trial of new augmented intelligence tool enables Shopify merchants to compete with Amazon by saving 20 to 30% on customer acquisition costs
LOS ANGELES–(BUSINESS WIRE)–#RetinaAI–Retina, a fast growing AI and predictive analytics company, today launched the first augmented intelligence platform to the more than one million Shopify merchants. Retina Go is a free customer lifetime value (CLV) tool powered by deep customer data science. With just two clicks, Retina’s analytics guarantees brands a 20 to 30% lower cost per acquisition (CPA) of its online customers. Retina data scientists use cutting-edge machine learning models for CLV predictions that beat competing models by up to 50%.
“Shopify is the platform of choice for e-commerce companies worldwide, and they are all fighting to do one thing – survive in the Amazon world,” said Retina CEO Michael Greenberg. “Retina’s new tool levels the playing field, giving these businesses the same insights that the big brands pay teams of data scientists tens of thousands of dollars to provide.”
Shopify is the world’s fastest growing commerce platform and operates everything from small, bespoke retailers to Fortune 500 companies selling direct-to-consumer. Similarly, Retina’s technology supports e-commerce companies from small to large, including well-known e-tailers such as Dollar Shave Club, Madison Reed and Backcountry.
The new Shopify integration empowers merchants to build on the rudimentary Shopify customer data reporting and provide advanced recommendations on what will move the business towards a product-market fit. Within minutes, businesses can download Retina Go through the Shopify App Store to access predictive analytics on customer lifetime value trends within their company and ad campaigns that target look-alikes of the best customers.
Retina’s easy-to-use tool takes the task of accessing CLV from an IT person’s job to something that anyone with a Shopify store can do on their own. This kind of simplicity delivers on Retina’s mission to empower businesses at all levels to tell their own data stories.
The tool can be accessed here: https://apps.shopify.com/retina-go
Located in Santa Monica, Calif. and backed by Comcast Ventures, Retina brings the power of artificial intelligence and machine learning to the single most valuable metric for marketers: customer lifetime value (CLV). Using insights from Retina, e-commerce disruptors can optimize their marketing mix based on Retina’s highly accurate long-term customer value and cost per acquisition modeling. For more information, visit: https://retina.ai/