Identifying industry segments with highest potential for new customers or new spending for current customers

• US 20080140507A1
• Filed: 12/12/2006
• Published: 06/12/2008
• Est. Priority Date: 12/12/2006
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Travel Related Services Company, Inc. (American Express Company)
• Inventors: Chan, Dan Cheung Tat, Hamlisch, Eliot R.
• Granted Patent: US 7,953,627 B2
• Time in Patent Office: Days
• US Class Current: 705/10
• CPC Class Codes: G06Q 10/06311 Scheduling, planning or task assignment for a person or group
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0202 Market predictions or forecasting for commercial activities
• CPC Class Codes: G06Q 30/0204 Market segmentation

Abstract

A method and system are used to identify industry segments with highest potential for new customers or new spending for current customers. This includes receiving data, segregated into each of a plurality of industries, relating to a number of small businesses, cost of goods sold for each of the small businesses, and percentage of cost of goods sold that is spent on raw materials and inventory for each of the small businesses. Capturing data, segregated into each of the plurality of industries, relating to average amount charged per current card member, percentage of the current card members charging the raw materials and the inventory, percentage of card member penetration, and total estimated charging for the current card members. Determining which of the plurality of industries or segments of the plurality of the industries are available for a highest potential for new card members or that are available for a greatest amount of incremental increased charging by the current card members. Communicating with the current card members in each of the plurality of industries or segments and receiving data therefrom based on one or more of the previous steps. Communicating with internal and external sources to capture additional industry-specific charging data. Receiving data relating to industry reports and census data. Generating ranked data sets based on the previous steps.

Claims

1. A method of identifying and prioritizing current or potential new card member segments, comprising:

(a) receiving data, segregated into each of a plurality of industries, relating to a number of small businesses, cost of goods sold (COGS), and percentage of cost of goods sold that is spent on raw materials and inventory;

(b) capturing data, segregated into each of the plurality of industries, relating to average amount charged per current card member, percentage of the current card members charging the raw materials and the inventory, percentage of card member penetration, and total estimated charging for the current card members;

(c) determining which of the plurality of industries or segments of the plurality of the industries that are available for a highest potential for new card members or that are available for a greatest amount of incremental increased charging by the current card members;

(d) communicating with the current card members in each of the plurality of industries or segments and receiving data therefrom based on steps (a) to (c);

(e) communicating with internal and external sources to capture additional industry-specific charging data; and

(f) generating ranked data sets based on steps (a) to (e).

2. The method of claim 1, wherein step (d) comprises instant messaging, emailing, telephoning, faxing, or direct mailing the current card members.

3. The method of claim 1, wherein step (d) comprises receiving an instant message, an email, a fax, a telephone call, or mail from the current card members.

4. The method of claim 1, further comprising:

(g) repeating one or more of steps (a)-(f).

5. The method of claim 1, wherein at least one of steps (a) and (b) perform the segregating using Standard Industry Classification codes.

6. The method of claim 1, wherein step (a) comprises receiving data from Dun and Bradstreet, U.S. Census, or Almanac of Business and Industrial Financial Data.

7. The method of claim 1, wherein step (e) comprises communicating with industry experts, small business organizations, Lexis-Nexis, Forrester, Mintel, Dun and Bradstreet, BizStats, Almanac of Business and Industrial Financial Data, industry reports, or census data.

8. The method of claim 1, further comprising:

(g) communicating with the potential new card members or the current card members based on step (f).

9. The method of claim 1, wherein step (f) comprises generating the ranked data sets based on a highest segment score to a lowest segment score, indicating external, internal, qualitative, and summary scores for each of the segments in each of the plurality of industries.

10. A system of identifying and prioritizing current or potential new card member segments, comprising:

a database including,

a first set of data, segregated into each of a plurality of industries, relating to a number of small businesses, cost of goods sold, and percentage of cost of goods sold that is spent on raw materials and inventory, and

a second set of data, segregated into each of the plurality of industries, relating to average amount charged per current card member, percentage of the current card members charging the raw materials and the inventory, percentage of card member penetration, and total estimated charging for the current card members;

a communications device configured to (a) communicate with the current card members in each of the plurality of industries or segments and receive data therefrom and (b) communicate with internal and external sources to capture additional industry-specific charging data, and

a controller configured to, based on the data in the database and the data captured by the communications device, (a) determine which of the plurality of industries or segments of the plurality of the industries are available for a highest potential for new card members or that are available for a greatest amount of incremental increased charging by the current card members based on the first and second set of data and (b) generate ranked data sets.

11. The system of claim 10, wherein the communications device is configured to communicate using instant messaging, emailing, telephoning, faxing, or direct mailing the current card members.

12. The system of claim 10, wherein the segregating is based on using Standard Industry Classification codes.

13. The system of claim 10, wherein the controller is configured to generate the ranked data sets based on a highest segment score to a lowest segment score, indicating external, internal, qualitative, and summary scores for each of the segments in each of the plurality of industries.

14. A computer program product comprising a computer useable medium including control logic stored therein for identifying and prioritizing current or potential new card member segments, comprising:

first control logic means for receiving data, segregated into each of a plurality of industries, relating to a number of small businesses, cost of goods sold, and percentage of cost of goods sold that is spent on raw materials and inventory;

a second control logic means for capturing data, segregated into each of the plurality of industries, relating to average amount charged per current card member, percentage of the current card members charging the raw materials and the inventory, percentage of card member penetration, and total estimated charging for the current card members;

a third control logic means for determining which of the plurality of industries or segments of the plurality of the industries that are available for a highest potential for new card members or that are available for a greatest amount of incremental increased charging by the current card members;

a fourth control logic means for communicating with the current card members in each of the plurality of industries or segments and receiving data therefrom;

a fifth control logic means for communicating with internal and external sources to capture additional industry-specific charging data; and

a sixth control logic means for generating ranked data sets.

15. The computer program product of claim 14, wherein a fourth control logic means is configured to communicate via instant messaging, emailing, telephoning, faxing, or direct mailing the current card members.

16. The computer program product of claim 14, wherein at least one of the first or second control logic means perform the segregating using Standard Industry Classification codes.

17. The computer program product of claim 14, wherein the first control logic means is configured to receive data from Dun and Bradstreet, U.S. Census, or Almanac of Business and Industrial Financial Data.

18. The computer program product of claim 14, wherein the fifth control logic means is configured to communicate with industry experts, small business organizations, Lexis-Nexis, Forrester, Mintel, Dun and Bradstreet, BizStats, Almanac of Business or Industrial Financial Data, industry reports, and census data.

19. The computer program product of claim 14, further comprising:

an eighth control logic means communicating with the potential new card members or the current card members.

20. The computer program product of claim 14, wherein the seventh control logic is configured to generate the ranked data sets based on a highest segment score to a lowest segment score, indicating external, internal, qualitative, and summary scores for each of the segments in each of the plurality of industries.