- Q: What does WiseGuysTM do that MOM and other marketing software does not?
- A:
Smarter targeted mailings and reports. By design, most systems, including MOM, collect and store
customer data for operational (not marketing) processing. For instance, most other systems do
contact management, invoicing, credit card processing, and may do inventory control.
WiseGuysTM picks up where they leave off - it links to their data and performs
the enhanced Marketing Analysis that they lack. This includes RFM analysis, Lifetime Value Analysis,
and Lapsed Customer reports.
- Q: What is unique to the MOM - WiseGuysTM interface?
- A:
Near real-time reporting. When you click on the refresh button in WiseGuys, you are getting the most
up-to-date MOM data available, within minutes (not days or weeks). This is particularly valuable for
marketing campaigns where timeliness of data is important (new customer promotions, same-day CrossSell
opportunities, etc.)
- Q: What is important about the Householding feature of WiseGuysTM ?
- A:
True visibility of aggregate customer sales. Again, most systems including MOM collect and store customer
data at the individual (contact) level. WiseGuysTM displays this data as well, but
also "households" or consolidates the individual customer data into an organizational record. This is
very valuable in a B-B environment - so that a marketer can see a roll-up of the aggregate sales activity
for all the contacts in an organization. MOM, List Management and R&R Reporting are unable to do this.
- Q: What is the importance of the WiseGuysTM MatchBack Response Analysis feature?
- A:
Response Analysis - the ability to precisely measure promotional campaign effectiveness is the single
largest un-met need for marketers. WiseGuysTM tracks all outgoing mailings (including
batch email), and then does a "matchback" of orders against mailing records, to calculate response. In this
way, marketers can evaluate the following:
- Which campaigns pay for themselves, and which do not.
- Which segments of your mailings respond the best.
- What is the staying power ("legs") of your mailings after the mail date.
- Q: Is there anything else new about WiseGuysTM and MOM in 2007?
- A:
Yes, outbound Sales Tracking. The advantages of this feature to MOM users are dramatic -
WiseGuysTM can now use our MatchBack Response Analysis to calculate the success of your
telemarketing campaigns. The Response Analysis described above now tracks the ROI of your outbound calls keyed
into your MOM Contact History. This give you complete visibility of whether your sales staff are contributing
sufficiently to your bottom line!
- Q: What was the highest ROI feature WiseGuys in 2006?
- A:
The CrossSell module - we expect this to be the most popular function in WiseGuys. CrossSell is an optional add-on
module that performs specialized analysis using product purchase information. The primary function is known as Market
Basket Analysis (MBA). You can also think of MBA as "Marketing By Amazon" - since they made it famous. This rare
capability is not available in off-the-shelf report writer packages. It allows you to analyze product pairs: i.e.
which product purchases correlate with others. For example, if a customer buys product X, what is the most likely
other product he will purchase. But that is just the beginning. CrossSell goes beyond marketing analytics to marketing
operational tactics. It will create a batch of customer "reminder emails" that provide a gentle reminder to customers
who bought X but have not yet bought Y.
An added benefit for MOM users is the ability to use the CrossSell analysis correlation to pop up cross sell messages
in MOM. This can be done by populating your Stock table based on CrossSell correlation results - ask our staff how
we can help.
- Q: How does WiseGuysTM CrossSell work?
- A:
CrossSell is an Access based module that performs the following:
- Computes the percentage of time that two products are purchased together, and creates a Product Pair table. A new
feature is that both products need not be purchased in the same order.
- CrossSell uses a "Product Pair Window" to establish whether a cross selling event really occurred. In your example,
a customer who purchased a baseball bat within 30 days of buying a baseball could be considered a Product Pair. If
they purchased ice skates 6 months after they bought the baseball, this would not be a Product Pair.
- Q: What was the most popular feature WiseGuysTM in 2006?
- A:
The CrossSell module - we expect this to be the most popular function in WiseGuysTM . CrossSell is an
optional add-on module that performs specialized analysis using product purchase information. The primary function is known
as Market Basket Analysis (MBA). You can also think of MBA as "Marketing By Amazon" - since they made it famous. This rare
capability is not available in off-the-shelf report writer packages. It allows you to analyze product pairs: i.e. which product
purchases correlate with others. For example, if a customer buys product X, what is the most likely other product he will
purchase. But that is just the beginning. CrossSell goes beyond marketing analytics to marketing operational tactics. It will
create a batch of customer "reminder emails" that provide a gentle reminder to customers who bought X but have not yet bought Y.
As an added benefit for MOM users is the ability to use the CrossSell analysis correlation to pop up cross sell messages in MOM.
This can be done by populating your Stock table based on CrossSell correlation results - ask our staff how we can help.
Optionally, CrossSell can launch an email to each customer who bought a baseball, but failed to buy the bat. The email is
gently worded:
"We've noticed that customers who have purchased ITEM 123 BASEBALL
also purchased ITEM 456 BASEBALL BAT. For this reason, we are
sending this reminder to let you know this item(s) is available in
our inventory. You can order at a savings of XX% by following the
link here.
- Q: What is the WiseGuysTM "Count Wizard" feature?
-
A:
The RFM Count Wizard allows you to output a selected mail count that matches a budgeted count that your desire. For instance, you
may want exactly 90,000 customer names: WiseGuysTM selects the highest scoring 90,000 records based on their
RFM scores. To select the highest scoring records, WiseGuysTM uses "weights" pre-assigned to each RFM score.
Weights can be adjusted to fit your specific business model.
Alternatively, you can use the "Nth Select Wizard" to select a random group of 90,000 names from your database. Nth Select is
valuable for testing using an "A/B Split". WiseGuysTM allows you to "hold back" a random group of
customers from a mailing. In this way, you can test whether the held back group responds as well as your mailed selections.
- Q: How does the WiseGuysTM RFM module save marketing dollars?
-
A:
Printing and postages savings from precision targeting of promotions. Direct Marketers work hard to generate as many orders as possible
from targeting a limited, highly selective number of contacts (usually through direct mail, e-mail or telemarketing).
WiseGuysTM RFM module helps save time and money by scoring each customer and selecting just the right target audience
that will achieve maximum return. By avoiding mailings to low scoring customers, WiseGuysTM can help avoid a great
deal of wasted time, printing and postage expense.
- Q: Are there other ways WiseGuysTM can save marketing dollars?
-
A:
Yes, through Lifetime Value analysis (LTV). Lifetime Value analysis is the measure of customer loyalty, and will tell you how much you can
afford to spend on acquiring a new customer to yield a lifetime of return. We all speak about the importance of building relationships and
repeat customers - yet it is truly amazing how any marketing organization can live without this valuable tool. WiseGuysTM
currently calculates actual Lifetime Value for MOM users, based on customer purchases. It will include a calculation for Forecasted LTV in a
future release.
- Q: How does WiseGuysTM help retain B-B customers?
- A:
WiseGuysTM promotes B-B customer loyalty by finding "lapsed customers". It prompts you for a date beyond which an organization
is considered "lapsed". For instance, if you key 01/01/2001, WiseGuysTM will return all organization records with no orders since
that date. Note that it considers all individuals at the org location when it makes this determination.
- Q: How much setup is required for WiseGuys?
- A:
For the Mail Order Manager (MOM) version of WiseGuys, very little. WiseGuysTM links to 4 existing MOM tables (or backups). This
setup can be done in less than a day.
For other systems, WiseGuysTM can be configured to link to virtually any relational database in a matter of days or weeks, not months.
- Q: Can't a good Report Writer like R & R or Crystal Reports accomplish the same functions?
- A:
No, for a number of important reasons. The biggest reason is that Report Writers typically are "read-only", and unable to pre-process and store data. Data modeling
experts will tell you that pre-processing is up to 80% of the entire effort of an analysis project.
- Q: What do you mean by "pre-processing"?
- A:
Here are the types of pre-processing that WiseGuysTM provides:
- Automatic householding - linking individual customers and prospects into a consolidated organization view.
- Automatic segmenting of customers into quintiles. Quintiles represent the marketing use of the 80-20 rule: where 20% of your customers generate 80% of your sales.
- Automatic assignment of RFM (Recency, Frequency, & Monetary Value) scores for each customer in your database.
- Q: What is new for the MOM version of WiseGuysTM in 2007?
- A:
Real-time Integration with MOM. The advantages of this feature to MOM users are dramatic - WiseGuysTM
can now use our MatchBack Response Analysis to calculate the success of your telemarketing campaigns. Also, with the availability
of up-to-the-minute customer purchase history, WiseGuysTM is now able to send cross-sell emails throughout the
day.
- Q: How is WiseGuysTM sold?
- A:
Licenses for WiseGuysTM are sold in 2 sizes: MOM version, and Enterprise version. Both modules run on Microsoft
Access (Access not included in purchase). See the pricingpage for license details for each version. Upgrades
and technical support are also available.
