Nobody could ever accuse me of being shy and I'm certainly not too shy to tell you how amazing and transformational the Money Map can be for UK businesses.
And, after reviewing the results from eight of the most recent Money Maps we've run for clients it has thrown up some truly remarkable results. From the past eight Money Maps run on our clients' databases we found:
- £28.5 million of efficiency savings by identifying duplicate customer data records
- £69.5 million of lost revenue by identifying addresses and contact information that is either incorrect or out-of-date
- £17 billion in potential new revenue by matching our clients' best yielding customers to our universe of marketing data
The Money Map is a truly innovative segmentation and modelling service that we offer at Blue Sheep to segment your existing customers into four primary segments based on what they spend with you, the lifetime of their business with you and then a powerful match back to our UK Business and Consumer Universe to clean, enhance and then run deep analysis on customers and potential revenue opportunities.
(Read more about how Money Maps work here.)
Ultimately, a Money Map will tell you two very important things:
- How much money you can save
- How much more money you can make
So, here are the results from looking back at recent Money Maps:
De-risking Revenue from Duplicate Customer Data
Results from a recent Myths of Marketing data survey by BlueVenn suggested that nearly 30% of marketers are kept up at night by duplicates ... and the Money Map proves why, with £28.5 million of revenue at risk in our clients' CRMs from over-communication or mis-communication.
Duplicates are a common problem for all multi-channel businesses; where one customer has had multiple records created either through human error, multiple email addresses or incorrect matching rules on the database.
Duplicates can be very costly for your business as you waste money on unnecessary mailings, damage campaign ROI and harm brand reputation.
And, if one person unsubscribes from marketing campaigns but the duplicate record continues to do so, then the fines could be huge!
A Blue Sheep Money Map not only finds these duplicates but will also fix the issues to ensure you protect that revenue.
Recovering Revenue from Incomplete Customer Data
Adding to the issue of duplicates is the growing problem of incomplete or incorrect data.
Incomplete customer records with crucial gaps in information happens when businesses or key contacts within the businesses change. Additionally, human error can mean that customer retention can difficult from the outset.
The result means a huge pot of revenue from those customers that you potentially can’t talk to because of incorrect and out-of-date contact information.
A Blue Sheep Money Map will identify how many of these customers you are missing out on, how to fix the issue, and how much money they are worth once you do.
Discovering 'Easy-to-Win' Revenue Opportunities
All businesses I speak to generally have a problem with time-wasters. We call them 'Avoids' at Blue Sheep and they are the customers that suck up resources, spend very little with you and are a drain to your profitability.
On the reverse side there are what we call 'Treasures'. These are customers who are easier to win (in some cases 21 times easier to win as identified by the Money Map) - and importantly spend big and stay long.
When we segment your customers using a Money Map we create the profile of your Treasures and then match this profile back to the UK Business and Consumer Universe to find more Treasures that you don't yet have.
In every Money Map we've ever done in 30 years, except one, the Money Map has found that between 60%-80% of a business's revenue has come from the top 20%-30% of customers (the Treasures).
The Money Map helps to change the way you think and focus on the high revenue opportunities in every future marketing initiative, by deploying the Money Map segments and profiles back to your CRM/database.
Mapping the Money - Lots of Money!
This is perhaps the best, most impressive and exciting statistic from them all and so I've kept this one until the end.
So from 2.1 million 'Treasure' prospects that we found for our clients they were worth a whopping £17 billion in new revenue.
Remember these are prospects that are, in some cases, 21 times easier to win AND will spend more (in some cases four times more!)
Who doesn’t want that to strive for?
Blue Sheep Money Map Customer Insight
- Supercharged Data – cleansed, enhanced and enriched data
- Customer Insight – know which leads will convert and spend big!
- High Quality Leads – We'll provide a rich, targeted prospect pool
- Reduced Business Risk – identify customers at risk due to bad data
- Increased Efficiency – stop wasting time on leads that never convert
Sign up for a FREE, no-commitment, proof of concept trial and within 48 hours of receiving your data we'll provide a sample showing you a wealth of insights about your customers and prospects.
Call: 01242 545 340