net-new prospect companies
American Lighting has been manufacturing lighting for residential, commercial, and specialty lighting needs since 1989, and is known for its constant innovation. As an established industry, American Lighting was interested in knowing how much of their target market they had already penetrated, where they could form new relationships with companies that resembled their best customers, and whether there was an opportunity for growth.
To help American Lighting realize their goals, Response Capture built an existing customer profile by appending demographic information to American Lighting customers such as industry, revenue, and number of employees. They then used this profile to measure American Lighting’s existing market penetration, and forecasted the total revenue opportunity for the existing and prospect customers to guide the strategic planning between sales and marketing.
Response Capture determined American Lighting’s best customer profile by isolating a market segment among their existing customers that had five times greater life time value (LTV) than any other segment; and supplied American Lighting with a database containing more than 500 new prospect companies – worth over $4 million in annual sales.
“Their profiling analysis helped us understand who our key customers are, how much market penetration we have, and where we should be focusing our market and sales efforts.”