Intempt is a Marketing and Customer Experience (MCX) company that provides a Customer Data Platform and a Personalization Engine. The company’s mission is “All customer experiences should be personal”. Intempt aims to promote commerce through enabling relevant experiences, whilst reducing the waste inherent in broad based advertising. Intempt is the first and only Marketing and Customer Experience (MCX) company in the world in which the customer can be triangulated across their Online behavior, CRM activity and in real-time within their Physical world.
Intempt was born because CEO’s of DTC (Direct to Consumer) companies complain that CAC (Customer Acquisition Cost) in a GDPR/privacy conscious world has increased. Blended CAC for DTC companies across industries is ~US$50. Meanwhile, the customer remains fickle. Most loyalty programs are ineffective at boosting LTV - they have an average redemption rate of 13.67%.
Research shows that a 5% increase in Customer Satisfaction increases profits by 25% to 95%. VP’s of Marketing/CX (Customer Experience) looking to tighten the CAC to LTV ratio tell us that personalizing customer experiences on Digital (Web/Mobile) and within their Physical properties is a major initiative. In response, Intempt built a Customer Experience (CX) platform for Retail/eCommerce, Travel/Hospitality and Saas companies. We are a good fit for companies seeking to grow aggressively.
At Intempt, we also believe that technology is not enough create success.To grow business sustainably, different verticals must adopt a new customer-centric mindset.
Retail/eCommerce. Customer is the channel. Retailers must become fundamentally channel and platform agnostic. Companies need to win, keep, and grow customers based on how they want to shop, not the way businesses want them to. It is vital to leverage deep customer insight to understand how various customer segments navigate across the channels and coordinate personalized messaging to provide prime CX.
Travel/Hospitality. Points are not the point anymore. Business must shift away from a plug and play redemption model, and instead use data derived from CDP technology to cultivate personalized experiences and relevant offers for loyal guests. The experiential elements are meaningfully innovative and largely unexpected in the traditional context. They engage customers in fundamentally new and immersive ways that grow their affection and develop real brand loyalty.
Saas. Seeds of churn are planted during the onboarding process. Saas companies must show their real value potential as soon as the customer signs in. Customer onboarding must be carefully curated by real time segmentation and journeys that would guide customers through personalized product or service discovery.
To understand these ideas, let’s look at how initial purchase (Initial Acquisition) and repeat purchase (Ongoing Retention) happens in Marketing and CX organizations today:
Initial Acquisition: Customers are more price conscious than ever before. Brands will typically issue discounts for first time buyers to get them introduced to their products. There is untapped potential for sharpening the pencil on this by segmenting the customer when they purchase high consideration items, like luxury retail or travel. The micro targeting should occur on behavior, profile, preferences and contextual signals.. Fundamentally, higher value customers should receive better deals in exchange for their initial acquisition.
Ongoing Retention: Loyalty programs typically control costs by creating a currency that depreciates itself by inflation and breakage. Rewards catalogs are created by purchasing discounted products that have surplus inventory in exchange for providing customer acquisition to partner brands. A purchase made with “rewards” isn’t satisfying because the product is typically lower quality than what the customer is used to. Redemption rates are at a historic low of 13.67%.
If DTC companies want to compete in the next era, the customer strategy needs to be to provide delightful experiences throughout their journey as opposed to spending on costly discounts and ineffective points. Getting a customer to expect a superior personalized experience is a strong brand builder. But it has always been complicated to provide personalized surprises and delights at scale. The question asked is: “How do we know what they want?” It is hard enough to choose the right experience for your loved ones, let alone for customers that we haven’t met.
Predictive machines help. Intempt simplifies personalized experiences by narrowing down the problem to a data aggregation and micro-targeting exercise. Once data from Web, CRM and the Physical space is aggregated into a Customer Data Platform, the Marketing and Customer Experience (MCX) team can create Predictive Experiences. At that point a customer on Web or Mobile, at the Guest Relations desk or walking around your business can be approached with a tailored experience.
Intempt was founded in 2016 by Sid Chaudhary and has offices in San Francisco, California and Vilnius, Lithuania. Prior to Intempt, Sid built Analytics/ML based products at Adobe Marketing Cloud and Intel New Devices Group. The Intempt team has profiled over 2 million consumers in over 50 countries and personalized over half a million experiences generating up to 9% increases in conversion.