Pilot customers declare Cohora puts the 'R' back in CRM
BOSTON, March 23, 2023 /PRNewswire-PRWeb/ -- Cohora today announced its Brand Customer Network and engagement platform is open for business. It follows several pilot customers that have already begun to use the platform with tremendous success. Leveraging user generated content, Cohora optimizes customer engagement and behavior to deepen the emotional bond between a brand and its customers. Through Cohora, brands gain customer-to-customer and brand-to-customer conversations which promotes the brand, its products and allows customers to play a unique role in social commerce, product investments, organic user growth and long-term loyalty to the brand.
Often, small and mid-size brands lack the resources to build long lasting relationships with their customers, forcing these companies to become dependent on a transactional mindset. Additionally, the current martech stack utilized by the majority of brands is designed to gather data only, this fragmentation wastes spending and makes actionability challenging and latent.
A 2022 Gartner survey further supports that Cohora is providing a much needed solution as it found only 42% of marketers use the breadth of capabilities available in their martech stack. One of the tools identified that support innovative marketing channels was social commerce, with 62% of respondents saying they have deployed, or plan to deploy, such technology - perfect timing for marketers to capitalize on the availability of Cohora.
To drive growth, Cohora received funding from Volition Capital. The venture capital firm previously backed successful endeavors lead by Cohora CEO and serial entrepreneur Manu Mathew, and was eager to support Cohora based on both Mathew's track-record as well as Cohora's solution offering.
"Cohora's platform is unique and provides an incredible level of potential for brands to develop quality relationships with consumers resulting in activation and advocacy," said Sean Cantwell, Managing Partner, Volition Capital. "It's a competitive landscape, but we believe Cohora's ability to address an industry-wide need will resonate with marketers and drive adoption."
The deprecation of the cookie coupled with privacy regulations have made it more difficult for brands to develop direct emotional customer connections and collect meaningful data. By creating an owned customer network within a brand's domain, Cohora delivers a solution that enhances a brand's first-party data with content insights that drives product investment and growth.
"My partners and I could not be more excited to open the doors of Cohora, a place where customers engage with the brand as well as other link-minded customers in an environment the brand owns and controls," said Manu Mathew, co-founder and CEO of Cohora. "Brands are gaining real-time dialogue with their customers as they interact with platform features, all of which are designed to foster brand advocacy. There is no longer a need to rely on third-party data and outdated CRM tools. Cohora makes the solution clear."
The foundation of Cohora is customer generated content that enables social commerce. Relationship activations include polls and surveys; contest participation; event hosting; cross-channel promotions; reward redemption; rewards for product promotion and exclusive access to new products among many other features. This leads to a micro-influencer community encompassed within the network, with all interaction allowing brands to:
- Leverage the power and passion of its consumers to propel brand and products.
- Drive organic engagement, personalization and communication from a single, centralized hub.
- Develop a deeper understanding of consumers' needs, wants and motivations.
- Use data-driven intelligence to move away from a pure transactional mindset and lean into engagement based loyalty that is designed for long-term customer value.
To learn more about Cohora including receiving a demo of the platform, visit http://www.cohora.io.
About Cohora
Cohora enables brands to develop an emotional connection with customers within a first-party, brand-owned social network that drives greater brand advocacy and behavioral based loyalty. Through Cohora, brands gain customer-to-customer and brand-to-customer conversations that generate authentic user content which promotes the brand, its products and allows customers to play a unique role in social commerce, product investments, organic user growth, and long-term loyalty to the brand. For more information, visit http://www.cohora.io.
Media Contact
Luke Gillespie, Cohora, 1 9175445303, [email protected]
SOURCE Cohora
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