Newton, MA – February 21, 2013 – Retailers can boost their revenues with a new metric that creates “shopper profiles” by measuring the likelihood of customer spending through targeted email offers.
FreshAddress, Inc., the premier provider of email database services, has launched eSpend Score, which scores retailers’ customer email addresses based on email engagement, purchase, and financial data. Retailers can then target score tiers with appropriate offers to maximize revenue. FreshAddress works with more than 20% of the top Fortune 50 firms.
eSpend Score is a number from 0–100 assigned to a customer at a particular email address. It allows marketers to target top spenders at their active email addresses while nurturing less attentive and/or lower spending customers with deep discounts or giveaways. The eSpend Score combines predictive customer purchase attributes with predictive engagement metrics tied to specific email addresses.
“Email marketers might have the best customer in the world, but if they can’t engage properly with that customer at a particular email address, they are leaving valuable revenue on the table,” said Austin Bliss, FreshAddress’s President. “By using eSpend Score, marketers can now effectively extract the maximum ROI from each and every email address.
In testing with a high-end home furnishings retail client, FreshAddress calculated the eSpend Score for customer email addresses that would be the target of several upcoming email campaigns. At the conclusion of the campaigns, FreshAddress compared actual click and purchase data to the assigned eSpend Scores. Email addresses with an eSpend Score of 61 or higher were 30% more likely than the rest of the list to make at least one purchase and 11% more likely than the rest of the list to click at least once. These customers also made 24% more purchases per person than the rest of the list.
“With eSpend Score, FreshAddress is leveraging over 30 data points and 14 years of experience to create a powerful segmentation tool for marketers, enabling them to drive targeted messaging across all their email lists according to the customer’s likelihood of spending,” Bliss said.
High eSpend Scores indicate a greater likelihood to engage and spend. Marketers can capitalize on these customers to drive revenue by offering them premium products and services, add-ons, and upselling. Marketers can nurture lower-scoring customers, offering them explanatory information and the deepest discounts or giveaways – like free shipping on any order.
For more information on eSpend Score, visit www.freshaddress.com/espendscore