The expectations of customers in company dealings are changing. With this, businesses need to personalize and enhance their marketing. Something that has become a priority is customer engagement.
Thus, customer retention and customer engagement platform CleverTap raised $105 million. The company will use the money for global expansion. Also, it will ease team expansion and tech development.
The SaaS of CleverTap makes use of AI and ML. It helps the brands establish long-term relationships with the customers. The vision of the company is to reshape the way businesses interact with customers.
By using the platform, the brands can perform user analytics at ease. Also, it helps the brands to understand the journeys of the users across channels. It engages with the customers in a personalized approach and improves customer experience.
The user engagement paradigms are changing. The industry leaders are putting their best efforts into helping the business. It makes sure that the businesses can adapt to this ever-upgrading customer landscape. The latest acquisitions helped in foothold expansion in Europe and North America. In addition, it helped the company in fields like subscription and on-demand.
Several other companies as well have responded to this particular trend. For example, Mastercard has closed on the acquisition of Dynamic Yield from McDonald’s. Dynamic Yield was a personalized engagement platform. The plan is to enhance the loyalty services and customer engagement of Mastercard.
More customers are looking for genuine, personalized experiences. The brands do not adapt to the risk of getting left behind. As per research, customer experience personalization is an excellent way of reducing churn.
The companies need to re-evaluate their offerings. They must devise ways to provide customized customer experiences.
There is a shift in how the customers want to spend, shop, and save in this connected economy. As a result, according to research, there is a powerful demand for super multifunctional applications.
Several organizations are trying their best to come up with the best innovation. The aim is to contribute to technical development to ensure businesses’ success.