Loyalty Builders Launches Free Customer Opportunity Analysis to Deliver Unique Insights into Customer Sales Opportunities
PORTSMOUTH, New Hampshire – March 3, 2014 – Loyalty Builders, a pioneer in the fast-growing field of customer analytics, today announced its Customer Opportunity Analysis (COA) to deliver companies a virtual X-ray of their customer set.
“Nobody else does this as we do,” said Mark Klein, CEO, founder of Loyalty Builders. “We examine the purchase behavior of every single customer, individual by individual. This approach delivers a much clearer view of what customers are doing than looking at what customer segments alone can give you,” he said. “And right now we’re offering this analysis to qualified companies, free.”
Several of the measurements are only possible because Loyalty Builders analyzes at the individual level: Risk Score, Likely Buyer Score, Loyalty Score, Cross-sell propensities, Up-sell probabilities, revenue at risk all reveal information about customers that not only was unknown, but that could not have been calculated. This is a new way of looking at customer performance.
COA diagnostics give details on customers’ buying behaviors, engagement, purchasing patterns, revealing potential revenue opportunities. A COA looks at 11 measurements to evaluate how well a company’s customer asset is being managed. Measurements include: customer lifetime value, revenue at risk, retention, churn, cross-sell efficiency, cross-sell opportunities, up-sell opportunities, breadth of purchase profile, existing customer activity, loyalty profile and likely buyers. The analysis is delivered by Loyalty Builders in a private webinar as a detailed PowerPoint report of key findings and insights.
“The first step your doctor takes in treating you is diagnosing the current state of your health,” Klein said. “Our COA does the same thing for your business – it drills down to the individual customer level to uncover the opportunities you may not be aware of,” he said. “Our clients are blown away by what these studies reveal about their customers and the revenue they’re leaving on the table. They’ve never seen anything like it. And, candidly, they usually want to talk immediately about how to monetize these opportunities with our help.” Klein is careful to point out that unlike an X-ray, Loyalty Builders offers this COA as a free service.
Retention is a hot-button issue with prospects, according to the company. A typical prospect who has been through the COA process will say they knew they had retention problems, but never understood the scope of their problem, much less how to address it, until they saw their Risk Score.
For 15 years Loyalty Builders has been committed to providing its clients with fine-grained intelligence about customers, says Klein. The firm’s core product, Longbow 2.0, allows marketers to analyze the buying behavior of every customer to deliver more precise up-sell and cross-sell opportunities. Better campaign response rates and improved customer retention have more than justified the cost of analysis the company says. For many of Loyalty Builders’ customers, the COA is the first step in putting customer level one-to-one marketing to work for their company.
At the outset, customer analytics is a numbers game. So companies should have a minimum of 10,000 customers, 100 or more SKUs and over $20 million in revenue to ensure the COA produces an accurate picture of their customer population. Companies can request a COA here.
Request a Free Customer Opportunity Analysis
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About Loyalty Builders
Loyalty Builders was founded in 1999 to help businesses gain more revenue from their existing customers. The company’s customer analytics solution, based on customer transaction data, gives direct marketers actionable and individualized customer insight. This leads to more efficient use of marketing dollars, higher response and retention rates, and increases in revenue. Learn more at www.loyaltybuilders.com or follow them on Twitter (@LoyaltyBuilders).