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Trak.io customer analytics for data-hungry businesses

Trak.io provides customer analytics for data-driven startups and even companies beyond the startup stage. The company offers deep analytics in a very easy to view format.

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Trak.io offers deep customer analytics

Trak.io provides customers with analytics for startup companies. It boasts a full range of tools to see help your startup from the beginning stages through becoming a thriving business. It offers a 360 degree profile for each customer and these profiles are fully customizable; you can add as little or as much information as you want. You can also add your own categories.

It is optimized for easy “pirate metrics,” which refers to their “AARRR” acronym: Acquisition, Activation, Retention, Revenue, and Referrals. With acquisition, you will be able to see what is driving your signups. Activation, gives you the tools to optimize onboarding so your signups will actually use your app. Through retention, you can track which methods are most effective at pulling users back to your app.

Revenue allows you to easily view the lifetime revenue of each customer, as well as, each traffic source and adjust your marketing campaigns accordingly. And with referrals, you can monitor who is bringing in the most users and creating the most revenue.

Building reports on customer activity

You also have the option to build reports on customer activity. This will give you an overview of your key metrics, enabling you to see how you are doing week to week (visible through a color-coded chart, as well as, a report form). There are also numerous filter options for these reports based on your business’ needs. Perhaps one of the most unique features is the ability to track offline activity such as phone calls, meetings, and networking events.

If you need help keeping all of this information straight, you can log events against distinct, color-coded channels. This makes it easy to differentiate your web site from your mobile app, blog, phone calls, conferences and social media. You can visually see where your hard work is actually paying off.

If your startup is data-driven, Trak.io is definitely worth a look. While it is still in beta-testing, it assures user that it will stay a “freemium” service. (Meaning the basic service will remain free and you will pay only for “premium” features. The site does not yet list what the free features versus the premium ones will be).

Jennifer Walpole is a Senior Staff Writer at The American Genius and holds a Master's degree in English from the University of Oklahoma. She is a science fiction fanatic and enjoys writing way more than she should. She dreams of being a screenwriter and seeing her work on the big screen in Hollywood one day.

Business News

Target’s plan to beat Amazon involves more openings

(BUSINESS NEWS) Retailers everywhere are feeling the pressure from Amazon. Yet, Target is taking that pressure and producing more stores.

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As the battle of online versus physical retailers continues, Target has decided to combat Amazon in an unfamiliar way. Target plans to open new locations as opposed to online markets. With new and remodeled stores they hope to get customers, new and old, shopping again.

Target representatives have already announced their plan to remodel numerous stores, and they are already expanding it.

They recently added 325 stores to the list and plan to have 1,000 revamped stores by 2020. There is no doubt that Amazon played a part in their initiative.

While other major retailers like Walmart have expanded their online services to stay afloat, Target wants to go back to basics. Why compete with Amazon in the online realm?

The remodels were planned according to the customer feedback.

Adjustments will be made from floor to ceiling – literally. Some plans reveal additions to the grocery section which will now include beer and wine.

In order to cater to customers in a rush, new stores will have separate lines for online orders, a pickup counter and grab and go food.

Target will expand their floor plans to include an additional entrance and curved aisles to highlight new merchandise. There will even be an outdoor section for visitors dragged along on a shopping trip to chill.

A remodeled store in New York was tested and reportedly sales boosted by at least 2%. CEO Brian Cornell is hoping for the same results with all of the newly remodeled stores.

In addition to revamping their current locations, Target is also testing a small-format design. This small store is meant for more highly populated areas.

Specifically, they will be popping up in cities and near college campuses. This is an untapped market for Target, which could bring even more sales in the future.

Target has already opened 55 small-format stores and plan on opening another 120 by late next year.

As for new, large-scale Targets, 32 have popped up around the country this year but there’s always more. Customers can expect to see another 25 in 2018.

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Business News

You can now make Amazon returns at Kohl’s

(BUSINESS NEWS) Amazon is teaming up with Kohl’s to give shoppers a few of the brick and mortar conveniences with online shopping.

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With online retailers giving brick-and-mortar stores a run for their money, some brands are choosing to collaborate, rather than compete. Kohl’s has announced that it will team with Amazon to create “Amazon Experience” mini-stores within Kohl’s locations.

The companies are testing the concept with 10 stores in the Los Angeles and Chicago areas. If it goes well, they’ll expand that number to 82.

The Amazon Experience stores will be staffed with Amazon salespeople, but Kohl’s employees will run the Amazon returns counter. Customers can even bring unpackaged items from Amazon, and Kohl’s employees will help them pack and ship it back to Amazon, free of charge.

It seems that Amazon is looking to have more physical presence with customers and to make returns easier, while Kohl’s hopes to downsize their store space and generate revenue by renting to other brands.

Just this month, Kohl’s opened four smaller stores that have 60 percent less footage and 25 percent less inventory than their typical stores. Customers can still access the entire Kohl’s inventory at kiosks that also offer in-store pickup.

It’s clear that Kohl’s isn’t afraid to combine the brick-and-mortar and online experiences, and their collaboration with Amazon is further evidence that the brand is adapting to the digital marketplace.

“This is a great example of how Kohl’s and Amazon are leveraging each other’s strengths — ” said Richard Schepp, Chief Administrative Officer of Kohl’s, “ the power of Kohl’s store portfolio and omnichannel capabilities combined with the power of Amazon’s reach and loyal customer base.”

Industry experts predict that Amazon may find other ways to utilize their physical presence in Kohl’s to better serve customers.

Amazon has been dabbling in the world of fashion, and having mini-stores in Kohl’s could present an opportunity for Amazon customers to try on apparel before they buy, bolstering Amazon’s in-house apparel brands.

Apparel analyst Tiffany Hogan told CNBC “We could potentially see new Amazon lines popping up at Kohl’s.”

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Business News

IBM is putting blockchains to work for banks

(BUSINESS NEWS) IBM is putting blockchain tech to work so that they can launch a banking system for international transactions.

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Earlier this year, IBM unveiled its “Blockchain as a Service” based on Hyperledger Fabric, creating a public cloud service for customers to build secure blockchain networks.

Now the tech company announced they’re teaming up with payment company KlickEx Group and blockchain startup Stellar to change up the cross-border payment game.

The team is launching a blockchain-based system for banks, aimed to lower the cost and reduce settlement time for global payments for both businesses and consumers. International transactions typically take days, or even weeks, to complete.

Blockchains could speed things up, minimize errors, and provide more flexibility and transparency to banks. According to IBM, the collaboration “is intended to improve the speed in which banks both clear and settle payment transactions on a single network in near real time.”

In case you forgot what blockchains are, here’s a refresher course. Blockchains are a secure digital ledger of transactions with bits of information stored across multiple nodes in a network.

Since there’s no centralized hub, it’s less vulnerable to hacking.

Any time an action is taken, the ledger updates and that data is available to anyone with access to the blockchain. Additionally, each transaction is secured with digital signatures and encryption, providing transparency and security.

Blockchains can be used to trace and track transactions along every step of the way, providing a handy place to combine all product information besides just financial dealings.

For example, IBM suggested a hypothetical in which their system connects a Samoan farmer with an Indonesian buyer.

In this transaction, they stated, “the blockchain would be used to record the terms of the contract, manage trade documentation, allow the farmer to put up collateral, obtain letters of credit, and finalize transaction terms with immediate payment, conducting global trade with transparency and relative ease.”

Instead of scattered information, blockchains collect all relevant steps in a transaction. Currently, they system is used in twelve currency corridors, including New Zealand and the UK, as well as Australia and the Pacific Islands.

Within the next year, the system is expected to handle 60 percent of the South Pacific’s retail industry’s cross-border payments.

Bridget van Kralingen, Senior VP of IBM Industry Platforms, said in statement, “with the guidance of some of the world’s leading financial institutions, IBM is working to explore new ways to make payment networks more efficient and transparent so that banking can happen in real-time, even in the most remote parts of the world.”

Over a dozen banks are part of the initial pilot program, and plan to expand to Southeast Asia, South America, and other areas by early next year.

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