Acquisition Of Leanplum To Help Clevertap Enhance Customer Retention
Martech Outlook | Thursday, March 31, 2022
For digital brands worldwide, the new combined entity will considerably enhance user engagement and retention capabilities.
FREMONT, CA: The cost of obtaining new consumers is much higher than keeping existing ones; client retention is crucial. Customers that have been with you for a long time are more inclined to engage in word-of-mouth marketing. The main factors of retaining a customer are providing enhanced service quality, trust, the satisfaction of buying the product, etc. CleverTap, a well-known retention cloud, revealed that it had entered definitive agreements to fully acquire Leanplum, a leading multi-channel customer engagement platform based in San Francisco, for an undisclosed amount.
CleverTap will become a truly global firm due to this purchase, with development centers and customer-facing and success teams located throughout North America, Europe, Latin America, India, Southeast Asia, and the Middle East. CleverTaps' capabilities are enhanced due to this purchase, which will bring its overall client base to over 1200 customers in over 100 countries worldwide. The transaction is expected to finalize in the second quarter of 2022.
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"We are seeing a seismic shift in the marketing technology landscape. Users today demand to be treated as individuals, and this has forced brands to change how they engage with them. CleverTap and Leanplum have both purposely built for a mobile-centric omnichannel world. The acquisition combines platforms and teams to deliver the best behavior analytics, segmentation, and engagement tools that will enable digital brands to build valuable, long-term relationships with their users. Our combined strength will be a game-changing force for user engagement, retention and monetization, creating tremendous value for our customers. I am very excited to welcome Leanplum to the CleverTap family." says Sunil Thomas, CleverTap Co-founder, and Executive Chairman.
CleverTap and Leanplum will collaborate with digital companies to help them enhance user engagement, retention, and lifetime value by hyper-personalizing, relevant, and contextualizing every user experience at scale in real-time. As more businesses go digital-first, marketers must provide great moments to their customers wherever they are, whenever they want, and on their preferred channel.
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