Proxima, a data intelligence software company that helps consumer technology businesses scale customer acquisition and improve customer lifetime value, announces the launch of their new AI-driven business health check tool, providing greater insights into profitable unit economics, capital efficiency, profitability and performance. Instead of needing to rely on a data team, this advanced tool digs deep into data to help brands optimize their efficiency, cost of customer acquisition and maximize customer lifetime value.
As consumer retailers are facing immense challenges stemming from increasing privacy restrictions and macroeconomic headwinds, including a 50% higher cost of customer acquisition, more than 60% of customers opting out of tracking and 40% of B2C executives forecasting missed profitability targets. Without profitable unit economics, capital efficiency and operational discipline, consumer brands are less likely to survive.
“The iOS 14 update abruptly disconnected the signal between marketers and their customer data, creating a unique moment in time where the need for a data intelligence solution was greater than ever to power acquisition, retention and operations for consumer companies,” Alex Song, CEO and founder of Proxima. “By leveraging the latest innovations in AI technology as well as our proprietary data network, our new solution provides consumer companies with the insights needed to identify their biggest pain points and recommendations for profitable growth and improved operational performance.”
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Proxima’s consumer data intelligence platform leverages a rich data pool of first-party data from popular media platforms and more than 60 million unique shopper personas. Innovative features of Proxima’s new tool include:
- AI-enabled acquisition: Audience technology that lowers cost of customer acquisition by 26% on average.
- Advanced business intelligence: Actionable insights and analytics detailing how to improve performance across your business and maximize customer lifetime value.
- Network-powered enrichment: Benchmarking that shows you how you’re stacking up on key performance metrics compared to similar businesses plus enrichment of your siloed customer data with the power of the network.
With a proprietary data network and AI capabilities, Proxima consistently delivers results which outperform existing campaign strategies, saving brands time and money in reaching the highest-performing audiences. Since launching in April 2022, the company has achieved 400% revenue growth and grown its proprietary network of B2C brands and media companies to over 12,000. This robust network provides unique, anonymized shopper personas from which the company’s AI builds custom audiences to scale performance on platforms including Meta, TikTok and Google, and now highly valuable business benchmarking.
“Given the similar size and scope of today’s consumer retail companies, one of the biggest obstacles we face is clear competitive differentiation,” said Kasper Garnell, Co-Founder of Joe and The Juice. “Proxima’s data intelligence not only tells us exactly how we stack up against our competitors, but recommends what we can do differently to create more impactful engagement with our customers and build long-term value.”
SOURCE: PRNewswire