Customer Portfolios Celebrates a Key Anniversary—Meet Boston’s 15-Year Old Startup
Founded at the Depths of the Internet Economy, Company Has Thrived Despite Three Downturns, Using Data to Help Major Consumer Brands Extend the Value of Every Customer
October 3, 2016—BOSTON—Customer Portfolios (CP), the marketing technology company empowering consumer brands to attract, retain, and nurture loyal, high-value customers, today announced its 15th anniversary. Co-founders Augie MacCurrach (CEO) and Nick Godfrey (EVP Strategy) have instilled an ethos in the marketing data and technology company that make the moniker “15-year old startup”— one that combines the best of an established entity with the nimble, innovative elements of a startup—entirely accurate.
Long discussed by the former CRM customers, the concept for Customer Portfolios—helping clients “fix” their data challenges so it was no longer siloed between touchpoints, so they could have a better view of the customer and implement campaigns to better sell to them throughout their lifecycle—was formalized in early September of 2001. Data was quite literally all over the place, and each channel was its own fiefdom that wanted to “own” the customer relationship. Working with multiple groups within the organization, pull together disparate data sources and create a single view of the customer; and from there, deliver prescriptive, actionable intelligence for its clients about their customers.
September 2001—A Brutal Time to Start a Technology Company
This was on the heels of the tech bubble burst, the fall of NASDAQ and the realization that no matter how much pet food you sold on the Web, if you lost money with every sale, it wasn’t going to work. In short, not the greatest time to start a company—let alone a tech company—and then things got much, much worse.
As September progressed, the failing web economy was eclipsed by much more devastating events—leading into a period of uncertainty and fear.
“We admit, we founded Customer Portfolios at perhaps the worst time in recent history to create a technology company, and then things only got much, much worse,” said Augie MacCurrach, the CEO. “But during that winter, we were able to win some initial clients and prove that our business model worked—these customers were collecting tremendous volumes of data, and doing nothing with it. We changed that, and I’m proud to say, at least two bubble bursts later, we are thriving.”
The company maintains a startup mentality at its Boston Seaport headquarters—with bright colors, an open floorplan and plenty of space for collaboration. And as Customer Portfolios has grown, it has worked hard to maintain that culture—even as it recognized success with clients such as Converse, New Balance, Subway, Johnston & Murphy, Vera Bradley, Journeys, Frye, Tourneau, and Zipcar.
“The minute we get complacent, we’re done. So I’m proud we’ve hired some very creative, hard-working and smart people to drive Customer Portfolios forward. There’s a reason you may not have heard of us—and while we hope to change that, it hasn’t been our main focus,” said Nick Godfrey, the company’s EVP, Strategy. “Our focus has been doing excellent work for our clients, showing them how to leverage their data to grow customer value and revenue throughout the customer lifecycle. It’s great to have a huge database—but even as ‘big data for the masses’ becomes more common, marketers don’t know what to do with that data. We teach them, and apparently it’s working.”
Customer Portfolios employs some 40 people in its Seaport headquarters. “We’re not in the trendy part of the Seaport—we’re down where the cargo gets unloaded,” added MacCurrach. “And that fits our outlook well, I think—every time you look out the window here, you see both a great view or the harbor, and people hard at work. We want that sort of ethic to permeate our company, too. There’s a saying—a rising tide carries all boats. We see that outside our offices and realize that, if we can build something to last during the depths of the first Web bubble and the Great Recession, we can do it anytime.”
The company is actively hiring to fill positions in its Boston headquarters. For more information on openings, and to learn how Customer Portfolios works with its clients to map the entire customer journey, in order to maximize customer value throughout the lifecycle, visit www.customerportfolios.com.
About Customer Portfolios
Customer Portfolios empowers its global retail clients to maximize the value of each customer to increase overall revenue. Our Predictive Marketing Platform gives its clients a single digital solution for analysis, insight, strategy, and execution—by bringing together all available data sources.
Customer Portfolios’ competitive advantage is its team of expert analytical and marketing experts who operate as an extension of its clients’ teams. They work with their clients’ executives, creative teams and digital agencies to deliver campaigns that drive brand revenue, increase customer engagement and build loyalty. Marketers from companies such as Johnston & Murphy, Vera Bradley, Journeys, HarborOne, Subway, Teleflora, Frye, Tourneau, and Zipcar consistently demonstrate revenue growth and increased customer lifetime value by working with Customer Portfolios.
Based in Boston, Customer Portfolios is a privately-held company built by founders from the CRM consulting space. For more information, visit www.customerportfolios.com, read our blog and follow us on Twitter and Facebook.
Ed Harrison, for Customer Portfolios