"The top quartile of customers often drive as much as 70 percent of a merchant's revenue. Identifying, engaging and retaining these loyalists is fundamental to growth," said Zach Goldstein, Founder and CEO of Thanx. "Thanx is, on the one hand, the easiest way to acquire this data. On the other hand, it's a robust suite of automated, revenue-generating marketing tools that act on that data."
"Thanx's ability to move merchants away from blanket, untargeted discounting to mass personalization is really impressive," said Joe Horowitz, Managing General Partner at Icon Ventures, who joined the board of directors. "Thanx offers, without question, the most elegant and seamless solution we have seen for collecting and using customer data to drive real revenue."
Of the three billion loyalty memberships in the United States, only 40% were active in the last year. By comparison, 98% of Thanx members remain active. The markedly-better retention rate can be attributed to a seamless consumer experience, as simple as paying with any credit card.
Mixt, a health-focused fast-casual restaurant chain, has doubled its location count since launching as an early Thanx customer. "Of all our marketing channels, Thanx is most directly tied to measurable increases in revenue and customer satisfaction," said co-founder David Silverglide. "Our Thanx customers are happier and visit 25% more often."
"Investment in online marketing has grown dramatically due, in part, to directly attributable results. Thanx brings this ROI focus to brick-and-mortar marketing and has already demonstrated meaningful revenue increases for customers," said Thanx board member and Sequoia partner, Bryan Schreier. "In this massive market, the best product and results will ultimately win."
Thanx helps merchants drive increased revenue from top customers through automated loyalty, feedback, and marketing tools and eliminates the integration hassles of traditional programs. Thanx is financed by Sequoia Capital and other elite Silicon Valley investors. Interested merchants can visit thanx.com/merchants to learn more.
Contact: Michelle Wohl, VP of Marketing, Thanx
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