Former Lawson Executive Eric Lopez and Minneapolis Director of Startup Grind Loring Kaveney have launched a business that is helping companies keep their customers: WorkOutLoud is the first and only social platform designed specifically for customer collaboration to foster brand engagement and affinity.
“With the cost of retaining customers anywhere from five to 25 times less than acquiring new customers and a 5-20 percent probability of selling to a new prospect verses a 60-70 percent probability of selling to an existing customer, it makes sense for companies to sharpen their focus on keeping what they’ve caught,” said WorkOutLoud CEO Eric Lopez. “Until now, the tools they’ve had to work with have fallen short. WorkOutLoud fills that gaping hole. We’re changing the way companies view their relationships with their customers.”
According to Twin Cities venture capitalist and early-stage company advisor Rick Brimacomb, who is using WorkOutLoud’s platform for his Club Entrepreneur and Network Connect interest groups, WorkOutLoud is a market disruptor unlike other collaboration platforms that provide a simplistic, partial customer experience, limited functionality and minimal data access. In addition, WorkOutLoud provides analytics that allow clients to measure specific results and personalize the customer experience. “It’s all about providing a way for customers to connect with each other in meaningful ways that drive revenue, loyalty and a better bottom line. WorkOutLoud does it all in a single platform—collaboration, digital and email marketing and event management. It’s easy for customers to self-organize and easy for companies to communicate the right content to the right users. The launch of WorkOutLoud is another shining example of the Twin Cities’ strength in tech.”
Unlike other collaboration platforms, WorkOutLoud provides a dedicated community success manager to help companies create successful customer communities. Engagement-based pricing ensures that companies pay for what they use regardless of the community population. The TRY-IT program provides a 30-day, no-fee trial. Plus, the mobile and cloud-based offering is private, secure and “brandable.”
Lopez’s background is reflected in WorkOutLoud’s cutting-edge technologies. For instance, automating delivery of meaningful content based on segmented profile information, single-click access to those in the community, and integration with other social communities. The company is continuing to develop additional, optional applications that further enhance the use of and benefits derived from the platform.
WorkOutLoud provides the first private, secure, and brandable platform specifically designed for building customer communities that significantly deepen engagement, leading to improved customer retention and ultimately increased revenue. The mobile- and cloud-based offering, delivered via Amazon Web Services, makes it easy for clients to manage their communities and foster a bond around their products and services. Through continuous collaboration and interaction via the WorkOutLoud platform, community users pursue their interests and learn by networking with peers. Unlike other platforms, WorkOutLoud provides detailed, real-time analytics about segmentation, interests, challenges, and preferences that help personalize customers’ experiences and provide a real understanding of customers’ needs and how they feel about products and services. For more information, visit WorkOutLoud’s website at www.workoutloud.com, or call 800-819-1190.