Corporate Backgrounder

Founded:

January, 2015 for WorkOutLoud, LLC.
By Eric Lopez, CEO, Co-Founder, Loring Kaveney, President, Co-Founder, Alex Lopez, Developer, Co-Founder


Background and Products/Services:

WorkOutLoud provides a private, secure, branded customer community that enhances the customer experience. It is delivered as a SaaS offering (via Amazon Web Services) and is primarily run by the customers in a simple to use, self-service manner, guided by a community success manager who provides initial training and on-going engagement support; ensuring the success of the community. Customers self-organize and then run their operation independently. The site provides deep analytics to the organization, related to customer segmentation, interests, challenges, and preferences. Each client can brand its community with logos, colors, and imagery, as well as customizable business rules that really drive the value home for the users. All data generated by the community belongs to the client, and each community site is implemented based on the client’s unique customer segmentation needs, terms, and policies.

Today’s enterprises are very aware of their need to improve their customer experience to boost customer retention and cut customer churn.

Market/Customers/Competitors:

Industries

  1. Mid to large-size enterprise software & services companies
  2. Healthcare IT vendors
  3. User groups associated w/the above.

MARKET SIZE (est.): $8B-36B* (Ent Collaboration/CRM) by 2017-2020

Decision makers:

chief marketing officers (CMOs), chief customer officers, chief customer experience officers, directors of marketing, directors of customer support, directors of customer care. In addition: administrators of client user groups.


Business Model:

Value based pricing with a SaaS subscription model.  Additional add-on products (Apps) and services are available.

WorkOutLoud continues to innovate by extending Value Based Pricing with a focus on pricing based on engagement, delivering extended value by focusing on the actual value of engaged users and truer ROI benefits charging based on engaged users rather than entire populations.

Competitors:

The enterprise community space includes companies such as: Jive Communications and Lithium Technologies, but both are very high cost and intended for very large enterprises. Smaller firms include Telligent, Igloo Software, and small niche organizations.  None of these companies focus solely on the customer experience and hence, many times are only part of a comprehensive solution or are simply to expensive to implement.

WorkOutLoud offers a complete solution that automates the customer operations of the engaged customer. Specifically, collaboration, surveys, events, polling, file sharing, user group management, email-marketing, marketing automation, etc. – primarily managed entirely by the actual customer.

Combine our functionality with a focus on end-customer administration, engagement based pricing, and an extendable architecture and you can easily see the difference between an integrated solution delivering one version of the truth vs. a pile of software tools that are not easily implemented or governed.

WorkOutLoud is designed to improve the Customer Experience.


Management:
  • Eric Lopez, CEO/Founder
  • Loring Kaveney, President/Co-Founder
  • Susan Dub, CFO Advisor
  • Graeme Thickens, Marketing Advisor

Advisors

  • Jason Tober, Executive Advisor (MESA)
  • Dan Kinsella, Executive Advisor (MESA)
  • Jennifer Forbes, Attorney, Felhaber Larson, St. Paul
  • Mac Casey, CPA, Casey, Menden, Faust & Nelson, P.A. Edina, MN
Funding:

To date, only the founders


Additional Entrepreneur Involvement:

Minnesota Emerging Software Advisory (MESA) portfolio

MESA Mentors: Dan Kinsella, Chief Financial Officer, SportsEngine,  Jason Tober, CEO, Delaget

Startup Grind Mpls. Director, Loring Kaveney

Minnesota High Tech Association (MHTA)

Women Entrepreneurs of Minnesota, (WEMN.org)

A Few of Our Customers

Want to learn More? Contact WorkOutLoud Today!