Every single day, retail and e-commerce brands connect with hundreds of thousands of people through their social media accounts. From a series of heart-eye emojis to a “Gorgeous! I need it in my life!” posted on a brand’s latest Instagram post, customers are clearly telling retailers which products they want and how likely they are to purchase them. Having identified the potential of this massive source of consumer insights, digital marketer Melissa Munnerlyn and data scientist Justin Stewart sought a way to directly monetize this kind of social media engagement.
Founded in July 2017, Cherrypick.ai provides brands with the means to turn Instagram comments into actionable sales leads. Unlike other social listening tools, which focus exclusively on providing dashboards of aggregate consumer information, Cherrypick.ai allows retailers to create personalized emails and ad campaigns for products customers genuinely want.
By leveraging natural language processing techniques and machine learning technology, this powerful API generates a purchase intent score extracted from Instagram comments for fully transparent, product-specific insights. Integrating this valuable data in the organization’s CRM allows retailers to enrich all communication sent to the customer with actionable behavioral data, in order to deliver “hyper-targeted real time messaging.”
Being one of the nine women-led companies graduating this summer from the New York Fashion Tech Lab (NYFTL), Cherrypick.ai has been endorsed by leading fashion companies such as Bloomingdale's, LVMH, Macy's and Tory Burch, who collectively select each year's cohort of startups.
Although the New York-based company is currently focused on beauty brands, tracking consumer purchase intent and using it as a metric to understand business performance could certainly be applied to other industry sectors and has the potential to reshape the fashion industry.