November 16, 2018
Since launching in 2011, Thanx has existed to support a lofty goal: to help offline businesses gain access to customer data, resulting in deeper relationships with their top customers and accelerated revenue growth. Now, in 2017, the need for more holistic, more actionable data has never been clearer — Brands like Amazon and Starbucks leverage customer data in increasingly powerful ways to grab market share from competitors, and the gap between data-driven companies and their analog counterparts is widening.
Becoming Data-Driven as an Offline Brand
For modern businesses, customer data is critical in order to target and engage customers. You see it every day: the ways in which brands interact with their customers has become a product of customer data. Have you ever received a timely email from an online shop, tempting you with the exact item you were browsing only days ago? Have you been followed around the internet with imagery of a brand you checked out, compelling you to return to their site? Data is giving online brands ways to engage powerfully and profitably with their customers… but there hasn’t been an equivalent for offline businesses. If you walk past your favorite ice cream shop instead of going in, they traditionally haven’t been able to “retarget” you in the same way an online brand could. That’s exactly what we set out to change all those years ago, and today Thanx is doubling down on what business operators are able to do with the data they acquire from their loyalty program.
Thanx merchants use data to run campaigns like “Winback” (a sort of offline retargeting campaign), “Thanxgiving” (a social referral campaign), and Smart Offers. With Net Promoter Score and feedback, businesses can respond to detailed feedback personally to make right a service quality slip up. And now, Thanx brings the ROI data front and center with transparent reporting built right into the dashboard, helping merchants do more of what works and spend less on promotions that simply aren’t paying for themselves.
To support our brick and mortar businesses Thanx is dramatically expanding its platform with a full suite of tools that are able to prove measurable, incremental revenue with every use. Thanx remains a completely frictionless way for businesses to gather high-quality customer data through loyalty, but Thanx 2.0 gives merchants even more powerful channels through which to activate that data and monitor the results in real-time.
Thanx 2.0 also delivers new omnichannel commerce functionality in Thanx Exclusive Deals, introducing a new way for merchants to make more money from their best customers even when they aren’t onsite. Exclusive Deals can be targeted specifically to certain categories of already-good customers, using mobile as a new always-on, powerful channel for driving incremental revenue. Sally Grant, Executive Vice President at Indiana-based Crew Carwash, explains, “We worked with Thanx to come up with the perfect solution for selling wash books digitally. We wanted a frictionless solution for our customers that allows us to easily track and tie purchases back to an individual, so we can not only know our customers and their preferences better but also see exactly how much revenue is flowing through our loyalty app. We anticipate getting to a point very quickly where revenue generated in-app more than covers the cost of the technology.”
Modern marketing requires measurable results and most loyalty programs are falling short. With detailed reporting around campaign results and new ways to drive revenue through the app, Thanx 2.0 allows brands to not only delight customers through effortless loyalty, but also precisely measure the return on the investment.
Thanx 2.0 comes on the heels of some important company milestones. After closing its Series B round of funding at the end of 2016, the Thanx team has doubled in size and opened a second headquarters in Denver, CO. Thanx has also bolstered its leadership team with the addition Dave Collier, Qaseem Shaikh, and Haley Marwell from HotSchedules, Zenefits, and Bain and Company, respectively.