Tighter Targeting, Improved ROI with MarketingAI
During the pilot, better offer personalization and optimized campaign timing led to the following great results:
147% ROI from upsell campaigns
28% retention of high- and medium-risk customers
In addition, favorable customer segment migrations from the campaign provided an 83% uptick in ROI.
AI and ML Personalization Engine Powers Improved Customer Loyalty
Driving ROI and maintaining customer loyalty during a festive season is quite a feat, one that requires careful personalization and offer timing. Five types of predictive analytics were used to achieve this result: Customer Life-Stage, Customer Micro-Segment, Behavior and Intent Prediction, Response to Marketing, and Marketing Recommendation. The last process, Marketing Recommendation, combined information gleaned from the previous four analysis to suggest appropriate programs for each customer segment; these were further tailored to achieve different business objectives.
To determine each action, several behavioral models and data types were combined, including information on demographics, bankability, affordability, communication timing, channel preferences, and propensity to purchase. Additionally, conversion factors like timing, channel, and product fit were used to determine how to customize each offer and when to deliver it.
This comprehensive tool allowed the company to experience the benefits of AI across a wide variety of use cases, including customer acquisition and win back, churn prevention, loyalty drivers, and cross-sell/upsell opportunities.
Navigating Seasonal Marketing with AI
Thanks to AI, this company now has the powerful analytics needed to successfully navigate marketing during the holiday season – and the rest of the year. With data-backed suggestions, they can move forward confidently with their messaging and personalization. And they can improve customer churn figures while boosting ROI and upsell/cross-sell opportunities.