Today predictive analytics and marketing technology platform Ocurate announced a new concept to help decision makers properly allocate funds to recapture high-value customers.
“It’s been challenging to measure customers on more than past purchase behavior. Until now nobody has been grading their target client base on potential purchasing habits and using that information to grant proper retargeting budgets to the most interested audience. Not all leads are created equal. Now we can make sure our customers don’t waste time or money,” said CEO and Co-Founder Tobias Konitzer. “Think about the number of people companies engage with. Imagine having the tools to focus on only those with the greatest value. That’s what we offer.”
Unlike other predictive analytics platforms, Ocurate provides a curated approach to each company, product and customer journey. It promises 90+ percent accuracy in predicting high value customers through custom algorithms and tailored business solutions. Its new Lead Scoring feature is included for all customers to gauge which audiences have a better lifetime value (LTV) prior to purchase.
Using historical data from client companies’ CRM, a novel set of telemetry data from Ocurate’s proprietary pixel technology, along with its database of individual attitudes, behaviors and trends, Ocurate is able to accurately identify valuable leads and predict who will spend more.
Assigning a score to buyers based on customer acquisition cost (CAC) payback potential as well as predicted buying habits saves companies hundreds of thousands in acquisition costs and retargeting. For example, plant-based pet food company Wild Earth saved $221,000 in a recent retargeting campaign. Another – Good Clean Love – used the insights Ocurate provided to guide its marketing and fundraising strategy – enabling it to completely move away from some distribution channels they immediately understood would not serve them long-term, focusing only on channels that would bear fruit.
“Ocurate is paying off and will continue to over the next two quarters – and the next two years,” said Ed Bailey of Good Clean Love. “A third of my marketing budget was reallocated toward the predicted most valuable customers. The results have shown astounding ROI already. I cannot believe how much we wasted on people who never intended to buy. We couldn’t decipher who could and would be the right client for us without it.”
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