SAN FRANCISCO, Dec. 07, 2017 (GLOBE NEWSWIRE) -- Euclid, the leading data platform for offline attribution and store visit retargeting, today introduced new predictive metrics that provide retailers and restaurants with a unique and actionable data set on visitors to their physical locations. The data enables marketers to predict consumers’ likelihood to visit in order to influence a purchase with the right message at the right time.
Euclid’s machine learning model analyzes hundreds of billions of events across millions of visits from thousands of locations. This large data set uniquely positions Euclid to forecast store visits across different brands, allowing businesses to accurately predict their customers’ intent and determine the best approach to engage them. By incorporating Euclid profiles into existing systems and campaigns, marketers can proactively identify patterns in customer loyalty and tailor marketing efforts based on where customers are in the purchasing journey.
Euclid data informs marketers if a customer is about to lapse, giving brands the ability to segment and customize their marketing campaigns to incentivize and re-engage with that customer - increasing their retention rate and lifetime value.
In addition, with Euclid’s unique location data set and large commercial footprint, marketers can understand the frequency of a customer’s store visit. This allows them to predict the likelihood of a store visit and create patterns that can inform the way retailers market and advertise to a specific subset of customers.
“Predictive metrics solve a number of expensive problems for retailers, particularly over-discounting and unnecessary coupons," said Brent Franson, CEO, Euclid. "With these metrics in play, our customers can identify patterns across channels, predict likely shopper behaviors, and ultimately tailor their marketing campaigns more effectively.”
Analyzing this large location data set has enabled the Euclid data science and engineering teams to innovate rapidly, while using best-in-class big data infrastructure. Euclid is one of the pioneers in the data field, providing retail and restaurant brands with actionable location insights to make the most out of their cross-channel marketing and advertising campaigns.
“From a data science perspective, developing new predictive metrics for both targeting and attribution is our main focus," said Rachel Wolan, Vice President of Product, Euclid. "We believe we can develop best-in-class technology that also sets the standard for responsible consumer data use and trust."
About Euclid
Euclid illuminates identity and behavior in the physical world. Today's mobile-first customer provides the opportunity to recognize every visitor who walks in the door, understand what drove that visit and retarget to influence a purchase. Marketers from the leading retail and restaurant brands rely on Euclid's data platform to better reach, inspire and serve their customers, increasing their lifetime value in the process.
Euclid's growing offline network captures hundreds of millions of monthly visits from over one billion unique devices across tens of thousands of locations.
Euclid is backed by leading venture capital firms Benchmark Capital and NEA, as well as Cox Enterprises and Groupe Arnault, the controlling shareholder of LVMH -- Moet Hennessy Louis Vuitton, the world leader in luxury products.