Accurate predictions of customer purchases is becoming easier for retail marketers to obtain, such as via Loyalty Builders’ cloud-based service. Then what? There are so many ways to use purchase timing, value, product, and loyalty predictions, it can be hard to decide where to start. Start Slowly with Quick Wins Start simply by targeting your… Read More
If you can predict which customers can be convinced to buy now or predict the right products to recommend, you will lift response, unless of course those predictions are wrong. No predictive model will get it right for every customer, but accuracy improves the odds of success. Consider this: In this instance, improving accuracy of… Read More
Working with many kinds of retailers and brands, Loyalty Builders knows customer buying patterns are different for every company. But they all have one thing in common. A relatively small number of loyal customers deliver a disproportionate, and typically eye popping, share of revenue. It’s not always 80/20, i.e. 80% of revenue coming from 20%… Read More
Predictive analytics brings science to retail marketing. Along with personalization and precision targeting to maximize campaign ROI, customer retention is a perfect use case for predictive analytics, and arguably its the most important. Customer retention is an overarching name for several key use cases designed to improve lifetime value and reduce customer churn. Here are… Read More
Predictive analytics brings science to retail marketing. It enables targeted marketing campaigns for increased revenue lift and there are many customer retention use cases, but personalized marketing is one of the most popular uses of predictive analytics. Personalization increases conversion rate by presenting relevant content to each customer. Retailers often promote products that they want… Read More