Concept: San Francisco’s restaurant tech startup Brightloom has released a first-of-its-kind end-to-end, cloud-based SaaS platform called Customer Growth Platform (CGP) for restaurants, retailers and consumer brands. The platform aims to empower brands to understand customer sentiments and generate customized marketing content that maximizes spending.
Nature of Disruption: The Brightloom platform leverages customer’s transactional data, marketing campaign data, along with catalog or menu data to identify the spending pattern. It recognizes customer buying behavior based on how often they give a visit, products they buy and the amount they spend over a set period. The Customer Growth Platform uses a machine-learning algorithm to analyze the data and compare it with a similar customer to predict future behavior and maximize spend. It predicts the amount customer is willing to spend during purchase and when they are likely to buy next products by comparing the historical data. For each consumer, it then generates customized product suggestions and promotions. Companies can channel the data into the Brightloom CGP in two ways: by setting up a direct connection between their data warehouse and the Brightloom platform or through regular updates via the Secure File Transfer Protocol (SFTP) server. Brightloom helps brands to evaluate and explore different deals using SmartSegments, to determine the most effective deal and tweak the discounts offered at checkout. Also, the startup offers different reporting and analytical methods to ascertain campaign effects on the bottom line of a brand.
Outlook: Companies across the spectrum are investing in digital technologies and seeking to capitalize on the massive push created by online sales ushered in by the pandemic. Understanding customer sentiments, purchasing behavior, creating bespoke marketing content for each customer is a success key for retailers. Brightloom’s Customer Growth Platform is simple, fast and effective, and it can aid retailers to predict customer’s future buying behavior, thereby help them increase revenue. The startup has raised $15M in recent funding and plans to accelerate R&D and grow its data science-as-a-service platform. The company has already secured clients such as Evergreens, Jamba, and Kickee.
This article was originally published in Verdict.co.uk