Now they, or any business, can measure and track their marketing effectiveness over time and know where they need to improve.
Portsmouth, NH (Vocus) February 20, 2009
Loyalty Builders, a leader in predictive analytics and developer of the Longbow system for direct marketing has introduced a new scoring system that helps marketers grade their total marketing effort and identify ways to improve it. Called the “Marketing Effectiveness Score(sm)”, the system blends six measures of the behavior of a customer population into a single score that pegs the effectiveness of a company’s customer marketing. The components of the marketing effectiveness score are:
- Revenue Mix
- Revenue growth
- Revenue at risk
- Category penetration
- Loyalty profile
Using the Marketing Effectiveness Score, marketers can grade the overall performance of their customer marketing programs, and then look at the components of the score to see which elements need improvement. They can then develop marketing programs designed to raise their overall score by improving the areas of their marketing that are under-performing.
The marketing effectiveness score is a snapshot at a particular moment in time. Once it has been established, it should be re-calculated periodically to track the effectiveness of the company’s marketing programs.
“We developed the Marketing Effectiveness Score in response to requests from our clients who want know how they are doing,” said Bill Vorias, Senior Mathematician at Loyalty Builders. “Now they, or any business, can measure and track their marketing effectiveness over time and know where they need to improve.”
For more information about how to create a Marketing Effectiveness Score for your business, contact Nansy Shoemaker at 603-610-8823
About Loyalty Builders
Loyalty Builders LLC was founded in 1999 to bring new precision to the understanding of customer behavior and its application in direct marketing. Loyalty Builders’ analytics help clients pinpoint which customers will buy next, what products or services they will buy, and when they will buy it. The result is increased accuracy for cross-sell and up-sell campaigns, and the ability to build early warning systems to spot potential defectors. Clients come from a variety of industries including retail, distribution, health services, financial services, transportation, technology and manufacturing. Loyalty Builder’s analytics experience has now been incorporated into a new web-based software service called Longbow.
Longbow, from Loyalty Builders, is a web-based software service that uses predictive analytics to help direct marketers increase revenue from existing customers It analyzes marketing efforts, identifies revenue opportunities, segments the customer population, targets prospective buyers, tests all aspects of a marketing campaign, and integrates with email and print systems.