Loyalty Builders Launches Marketing Lift Service
Loyalty Builders has launched the Loyalty Builders Marketing Lift Service, a cloud-based service that prescribes product recommendations across channels for any customer.
With Marketing Lift Service, machine learning techniques automatically exploit basic transaction records to ensure the best data-driven recommendations for each customer.
"It's absolutely critical that in those few precious moments when you finally have a customer's fleeting attention that you not waste it with irrelevant messages and static offers," said Peter Moloney, CEO of Loyalty Builders, in a statement. "With Marketing Lift, we are proving that making the most relevant recommendations to each customer typically lifts revenue from 10 percent to 30 percent or more. And we've made it highly prescriptive, packaging automation, actionable recommendations, and a step-by-step approach that empowers marketers to avoid expensive IT and analytics exercises while delivering highly effective personalized marketing."
Loyalty Builders Marketing Lift does the following:
- Requires no personal customer information, no customer database or data integration, no data modeling skills, and leverages existing marketing systems.
- Mathematically predicts the future purchase behavior of each individual customer from past purchasing behavior.
- Learns and updates predictions as new purchases are made.
- Ranks recommendations by probability for each customer and makes them available for lookup or export to drive e-mail, e-commerce, CRM, and other systems.
- Prevents excessive discounting or expensive catalog mailings to the wrong customers.
In addition to individual product recommendations and campaign lists on-demand, Loyalty Builders' automated analytic services also predict loyalty and risk metrics for each customer. These include who will buy and when, what they will spend, risk of churn, lifetime value potential, and more.