The Bottom Line
We increase revenue from your existing customers to build wallet share and lifetime value. Our experience has led us to develop the revenue-generating strategies below.
Strategies That Increase Customer Revenue
1. Steal purchases from your competitors by discovering and targeting the buying
motivations of your “high-opportunity customers”.
2. Retain your customers for longer by eliminating the primary factors that lead
to abandonment.
3. Convert more browsers into buyers by removing the “barriers-to-purchase”.
4. Acquire new revenue by influencing your customers to convert their friends
and family to your brand.
5. Improve key aspects of your customer experience that have the MOST impact
on satisfaction and revenue.
6. Increase the average purchase amount by linking transactional data and customer
experience data to identify profitable buying patterns.
7. Encourage trial of other brand offerings by identifying and appealing to key
customer motivators.
Measurable and Actionable
We provide actionable solutions – not a bunch of numbers. We study each KPI in relation to your customers to determine which strategies and tactics will increase revenue. As your customers begin spending a greater share of their wallets with you, customer loyalty and lifetime value will also increase – aspects of customer behavior that are routinely undervalued by traditional marketing strategies.
Below we discuss our approach to improving the 5 KPIs of wallet share:
Customer Satisfaction
We have proven that customer loyalty and purchase behavior are directly influenced by customer satisfaction. Shifting a small percentage of customers from “satisfied” to “very satisfied” will trigger a measurable increase in revenue. Read more
• Knowledge Base: Increase profitability through customer satisfaction. View
• Case Study: Grocer adds $415 per store, per day by increasing satisfaction. View
Customer Retention
The average company sees 25% of its customers abandon them for the competition. They don’t abandon you overnight – it’s a gradual process of Customer Drift™. With acquisition being six to seven times more expensive than retention (source: Bain & Company), why do so many companies let their customers drift away? Read more
• Knowledge Base: Coming soon
• Case Study: Coming soon
Purchase Frequency
Your customers are cheating on you. Many of them buy the same items from your competitors. By applying the appropriate influence to each customer segment, you can capture those competitor purchases, resulting in millions in new revenue. Read more
• Knowledge Base: Coming soon
• Case Study: Coming soon
Purchase Amount
We’ve all read that 50%-70% of purchases are unplanned. To profit from this, you must understand the two stages of making an unplanned purchase: (1) the consumer selects a product then (2) the consumer narrows it down to a single brand. Until recently, this stage of the path to purchase (also known as the consumer decision-making process) has been greatly undervalued. See how BehaviorWorx can influence your customers to spend more with each visit. Read more
• Knowledge Base: Coming soon
• Case Study: Coming soon
Customer Conversion
It’s time to re-think your conversion rate. BehaviorWorx has introduced a fresh and creative approach that increases revenue from your primary customers, those shopping with them and the consumers in their circle of influence. We will change the way you think about your customers. Read more
• Knowledge Base: How your customers decide to buy. View
• Case Study: Coming soon
