Infobird Co., Ltd (NASDAQ: IFBD) is a Chinese-based software-as-a-service (SaaS) provider of innovative, artificial intelligence (AI) customer engagement solutions that’s noticing a growing trend. The cost of customer acquisitions and high-quality sales leads are rising. Nevertheless, acquiring new customers is a key driver of revenue growth for many firms. So how can businesses grow without breaking their budgets? Infobird sees private domain traffic as the answer.
What is Private Domain Traffic?
Private domain traffic is a type of marketing tool that helps companies build and maintain a customer database. Companies are increasingly shifting towards a customer-centric approach focused on building long-term relationships, and in turn increasing the customer retention rate, as well as facilitating cross-selling and upselling during the customer’s whole life cycle. Private domain traffic is integral to this relationship.
Private domain traffic is increasingly catching the attention of CEOs and executives in China, who are using private domain traffic to reduce marketing costs, increase customer retention and bring in more users.
This strategy is also supported by research. According to a study, authored by Rob Markey, Director and Partner of Bain & Company and published January 2020 in the Harvard Business Review, a 5% increase in customer retention rate can translate into an increase in profits by 25% to 95%. The study also found that companies with higher customer satisfaction grow revenues roughly 2.5 times as fast as their industry peers, highlighting the importance of customer management. Recognizing the significant benefits, companies are increasingly focused on the next stage of marketing which will require building long-term relationships with customers, creating their own private domain traffic, enhancing customer life cycle, and increasing the customer retention rate.
Recent marketing trends emphasize the development of big data, AI, 5G, robot process automation (RPA) and other technologies as playing an increasingly critical function role in customer service, marketing and business management. Many enterprises are turning to solutions that can help them provide services to customers intelligently and effectively.
Business-to-consumer (B2C) companies and healthcare firms are particularly positioned to succeed from private domain traffic solutions. These firms have large customer groups and broad market space, but are oftentimes constrained by fierce competition. However, optimizing the value of existing customers and maintaining high retention rates can be a solid strategy for driving growth.
How Infobird is Pioneering Private Domain Traffic
Infobird is trailblazing the field of AI-driven, intelligent customer service solutions. Its latest product launch, WeChat Call Center, is marking the company’s entry into the field of private domain traffic. This latest product combines automation and personalized private domain traffic solutions to help companies retain customers and maximize consumption potential.
Infobird’s latest WeChat Call Center integrates with the largest platform for companies looking to acquire private domain traffic. According to official data released by WeChat in 2021, there are 1.2 billion WeChat users and more than 1 billion daily active users — representing a significant expansion opportunity for Infobird.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.