InfoWorks Launches Customer Knowledge Platform
The new platform is a customer relationship management system that will allow InfoWorks' clients and prospects to execute programs in a more focused manner based on relevant customer data.
"The benefit of a capability like this is the ability to stitch together all the core competencies required to successfully execute how an organization should market to their prospect and customer base," said Jay C. Oberheide, vice president of sales for North American operations at InfoWorks. "Another benefit is having a complete end-to-end, information-driven approach for determining how and where those marketing investment decisions should be made. [Also], the other benefit is having a platform which is going to reduce cycle times for executing a client's programs and campaigns."
The Customer Knowledge Platform includes product propensity models to match the right products to the right customers as well as attrition models to predict which customers are at risk.
A merge/purge component ensures that the list includes only those customers the InfoWorks client may want to reach.
InfoWorks has built in an analytical datamart that stores vital customer information for driving marketing and business programs. Supporting the feature is a multidimensional segmentation component that helps to develop insights into customer behavior.
The platform incorporates customer profitability and long-term value models.
A key feature of the product is the customer value scorecard, which tracks how the quality of the customer base changes over time. It tracks the migration paths of current customers and determines into which segments the new customers fall.
The features are bundled into a single package and are positioned as a comprehensive source of tools that offer customer insight, predict behavior and track customer performance, InfoWorks said.
The agency has yet to sign up clients for this product.
"We're in the discussion stage with several of our clients and prospects," Oberheide said.
InfoWorks refers to itself as a knowledge-based marketing consultancy, focusing on building customer and firm value through its customer value enhancement offerings.
Clients of InfoWorks include OfficeMax.com, H&R Block Inc., MyPoints.com, AltaVista Co., Verizon Wireless, Dell Computer Corp., Harley-Davidson Credit Corp., U.S. Bancorp, uBid.com, Bank of America and Pitney Bowes Credit Corp.
For each of these clients, InfoWorks provides services related to customer acquisition and retention, "win back" and customer development, which includes cross-sells, upsells and stimulation.