Good customers return - we know which of them are
Propensity-to-buy models identify customers who are five to fifty times more likely to make their purchase than the average customer.
Historical data reveals what is sold and to whom, what is the sales intensity, and how customers behave before purchasing. We will run predictors by machine learning algorithms and identify the basic characteristics and extent of their influence on purchase probability. As a result, we will find out which customers are more likely to buy and what are they like. We than scan new customers for desirable characteristics (that is with high affinity to purchase), and then address them with various cross and up sell campaigns. The benefits include increased sales, stronger customer loyalty, reduced communication costs, increased return on investments, and higher conversion rate.
DICTIONARY:
Affinity model - A model predicting the likelihood of purchasing a specific item.
Next best offer model - A set of models that can offer the most suitable product for a given customer with a given combination of already purchased products. Based on the analysis of the shopping cart.
