This is a great question and one we get all the time. Because there are so many other options in the market, retailers and organizations find it difficult to differentiate us between the other solutions in the space.
There are a few things that elevate BuyerGenomics from the other solutions:
1. Not just New Customer Acquisition, but Acquiring New Customers that Spend More and Spend More Often:
Organizations tell us this is the most exciting differentiator from our Competition. Most Solutions & Softwares focus solely on the existing customers and we understand why. That is the data that’s accessible to them and the existing customer base is valuable, of course, that’s why BuyerGenomics provides that as well. But what isn’t accessible to the other Solutions and Softwares is the ability to understand who in your database is the most valuable to your organizations, and run highly complex predictive models to find new customers that will spend like your best customer does today. This is no “Look-a-like” Targeting — we call it “Buy-a-like” Targeting because it is more sophisticated and predictive of the actual new customer’s buying behavior. We do this at scale for many organizations in different industries today.
2. Never Send a Discount to a Full Price Buyer Again
Brands inadvertently train their full-price buyers to shop on discount. BuyerGenomics enables you to suppress & reduce discounts to your Most Valuable Buyers (MVBs) that don’t require discounts. BuyerGenomics targets discounts only when necessary and reels in higher margins from quality customers –rather than converts them to bad customers.
3. Improve Relevancy in the Eyes of Your Customers
Brands tell us this is one of our biggest differentiators in that we help you know who your true customer is by enhancing your raw customer data with lifestyle, psychographic, and demographics variables — enabling the Marketer to send individualized messaging to the right customer at the right time. This increases sales because consumers prefer more relevant offers and content based on prior purchases, the right timing, and their needs and lifestyles.