What is BuyerGenomics?
BuyerGenomics is two things:
- A Marketing Database that holds all of your Customer & Transaction Data Across all Your Selling Channels
- A Customer Intelligence Platform that Delivers Predictive & Actionable Insights, that only the largest retailers in the world have, to enable the Organization to Methodically Drive More Revenue & Profits
BuyerGenomics delivers the ability to laser target the right message to the right person at the right time, without the effort and expense traditionally required.
What are the benefits of BuyerGenomics?
BuyerGenomics gives marketers the tools to:
- True 360 degree view of the customer
- AutoPilot – Advanced Intelligence in Every Marketing Communication, Done Automatically for the Marketer
- Never send a discount to a full price buyer again
- Advanced Segmentation to quickly improve communications and conversion
- Finally, recognition for your Most Valuable Buyers (MVBs)
- Autonomously grow loyalty & loyalty analytics
- 1x Buyer Optimization – Get the second sale
- Modest costs, strong value to the business
Is BuyerGenomics CRM Software?
We’ve heard our customers refer to us as a CRM or Customer Relationship Management Software. However, what we’ve learned from speaking to customers and retailers is that CRM means different things to many retailers and organizations. One of the key differences between BuyerGenomics and the traditional CRM Software is two fold:
One is that most CRM softwares do not have Predictive Analytics capabilities. What we mean when we say Predictive Analytics is leveraging your raw data to answer questions such as “When is my customer going to spend with me again?” or “What new product categories is my customer likely to spend in that they haven’t already?” Being able to have these insights at the tip of the marketer’s fingers enables them with the ability to maximize customer lifetime value and loyalty with little to no extra work.
The Second key difference to most CRM softwares is that BuyerGenomics allows you to take action on the insights right within the tool — no third party integration required. So if BuyerGenomics sees a giant revenue opportunity for your organization, you — as the marketer — now have the ability to take action on it with the click of a button. BuyerGenomics can even take action on high revenue opportunities automatically if you would like!
Due to it’s versatility, BuyerGenomics is often described different ways by our clients as “our secret weapon“.
What makes BuyerGenomics different from all other Marketing Databases & Software?
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.
What is Database Marketing?
Database Marketing will mean different things to different marketers. Among the Database Marketers that contributed in building BuyerGenomics, we’ve defined it as leveraging your raw customer data to improve communications, relationships, and ultimately profits with your existing customers. Building long-term relationships with your customers is essential to growth — and without proper insights readily available it can be tough to identify customers who are ready to buy or who are at risk of abandoning your brand.
To even be able to do Database Marketing, it is necessary that all of your data (online, offline, mobile, transaction, email, etc.) all live in one central hub. But that’s not going far enough because all that data in one place could be overwhelming. The system then needs to be able to point out the highest-value opportunities for your brand to generate more marketing revenue. BuyerGenomics was built for Database Marketing and though it’s capabilities expand this term today, the “bread and butter” of BuyerGenomics that is Database Marketing continues to be a key advantage BuyerGenomics has over most platforms.
What is Omni Channel Marketing?
For brands that are Ecommerce only, this isn’t necessarily relevant. But as brands continue to grow and open up a flagship store OR you’re a retailer with 500 stores, an ecommerce website, a mobile app, a catalog, you will probably be interested in how your customers are spending across different channels. You might also tailor communication or shopping experiences differently depending on the channel(s) they buy on. For example, if a shopper only buys on catalog and never opens up an email or has been to the website, you’re likely going to tailor communication to just direct mail. The idea is delivering a seamless shopping experience that is valuable in the customer’s eyes — so they would be motivated to shop with you again.
1-to-1 Marketing always outperforms batch & blast marketing
Omni channel marketing is simply the practice of understanding your customer across multiple spending channels, and to take action on an individualized & seamless marketing strategy that reduces costs and increases sales. Understanding how customers spend across different channels can inform a lot that is outside of Marketing communications– including inventory of certain items and products that may sell better in store vs online, the most cost effective new customer acquisition channels, promotion strategy across unique channels. To have all this data in one secure hub that delivers insights and predictive marketing analytics truly gives BuyerGenomics it’s key competitive advantages to the retailer.
What is BuyerGenomics AutoPilot?
BuyerGenomics AutoPilot is advanced marketing automation. No ESP or third party software is required for execution against the insights and revenue opportunities BuyerGenomics Machine Intelligence identifies. BG AutoPilot can autonomously identify each individual that is experiencing a critical change in potential value or loyalty right now, in real time.
BuyerGenomics AutoPilot literally allows the marketer to set some of the most advanced, intelligent 1-to-1 marketing –on “auto pilot” and let the system do the vast majority of the work required in higher performing 1:1 marketing. The results of which BG Users refer to as “staggering performance.”
When enabled, AutoPilot will predict the behavior of each buyer, and deliver the right message when it counts the most. It will rescue customers who are fading, and deliver the ideal message to the buyer that is about to purchase. This is just to name a few critical moments AutoPilot can see and respond to.
What is Cloud CRM and is BuyerGenomics a Cloud CRM System?
“Cloud CRM” is Customer Relationship Management software is hosted online and accessed through a web browser. Unlike traditional CRM software, Cloud CRM is delivered through the Internet, making it possible to access your customer data and customer insights from multiple offices or locations, and for any number of users to access the Cloud CRM system simultaneously.
Cloud CRM’s are flexible, a business can scale up if they need to due to the expanding capacity of cloud based software.
BuyerGenomics is a feature rich, mature CRM technology that encompasses capabilities that were not traditionally integrated natively into “CRM Software.” BuyerGenomics incorporates a Marketing Operations Database, Advanced Segmentation Engine, Targeted Email Delivery, a Predictive Marketing Engine, Buyer LifeCycle Management, RFM Scoring, Reporting and Ad Hoc Analytics, and much more.
What is a Customer Marketing Database?
A Customer Marketing Database is a collection of data that is gathered about a business’s customers. The database can include personal information, such as their name and contact details as well as data on previous behaviour such as their past purchases.
A Customer Marketing Database can fundamentally provide marketers with fast access to the right information, make it effortless to view an opportunity from many angles, and then make taking action on the target not only possible –but easy.
Is BuyerGenomics suitable for small businesses?
BuyerGenomics can benefit all businesses of all sizes. As a business grows, it becomes more and more difficult to keep track of the ever increasing amount of customer data & channels the data comes from. Most retailers today have their data siloed across different systems who are owned by different departments.
BuyerGenomics has all your customer data in one central hub, where the marketer or any department can have speed and dexterity to all the actionable insights BuyerGenomics has to offer, leaving more time to focus on the more strategic & high-value work you should be doing.
How long does it take to set up BuyerGenomics?
Creating a Customer Marketing Database with BuyerGenomics takes on average 2-3 business days after we receive your data. We make it easy, we provide a user guide & on-hand support that simplifies the approach. No traditional “data integration” required.
Can BuyerGenomics manage customer interactions across all touch points?
Yes. BuyerGenomics is channel agnostic. The system can consolidate customer information across all possible channels. Whether it is offline, online, mobile, catalog, direct mail, BuyerGenomics can track & provide actionable customer intelligence on all.
What 3rd party platform/software can BuyerGenomics integrate with?
Any third party can integrate with BuyerGenomics easily. BuyerGenomics has a RESTful API and an ODBC Connector that it makes it robust & simple to integrate with any third-party system or application necessary for your brand.
Do you provide training for BuyerGenomics?
Absolutely. We provide training for all BuyerGenomics users and anyone else interested in becoming a BuyerGenomics Certified User. A Partner Training program is also in the works for those wishing to become a BuyerGenomics Certified Partner! Reach out to us via the phone number in the footer if you’re interested in learning more!