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Setting up a cross-selling model
Cross selling campaigns aim at selling additional products to existing customers.
A cross selling model estimates the propensity to uptake an add-on product for each scored customer.
A cross selling model can be built on the results of a test campaign to analyze respondents and identify customers with increased purchase potentials.
An easier approach which does not require the running of a test campaign, is to analyze the profile of customers who acquired the product of interest in the recent past. Here are a couple of examples based on the latter approach:
A cross selling model estimates the propensity to uptake an add-on product for each scored customer.
A cross selling model can be built on the results of a test campaign to analyze respondents and identify customers with increased purchase potentials.
An easier approach which does not require the running of a test campaign, is to analyze the profile of customers who acquired the product of interest in the recent past. Here are a couple of examples based on the latter approach:
Banking: Cross-selling an Investment product to Savings’ customers.
- Modeling population: all active customers not owning the investment product at H (end of the historical period).
- Target population: those that acquired the product at T (end of the event outcome period).
- Scoring population: all active customers not owning the product at present.
Mobile telephony: Cross-selling a telephony service, e.g. Internet usage
- Modeling population: all active customers not using the service before H (no traffic before H).
- Target population: those that used the product at T (at least some traffic between H and T).
- Scoring population: all active customers not using the service now.
Comment
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Comment by Anit Anit on June 29, 2016 at 4:57am
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Where is "now" in the time line? is it the same as "H"
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