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Case Studies
Increasing Product Acquisition Revenue with site+1
Industry
Financial Services
Challenge
Determine the best offer to present to a potential
customer. A leading financial services provider had a significant amount
of different products, of which they wanted to display five of
the right products at a time on their site. With millions of possible
product combinations, the company approached [x+1] to help them
determine which combination would be most relevant to each of their
many different customers.
Solution
Segment customers based on behavior and provide
more targeted, relevant offers. [x+1] recognized that customers
who visited the company’s website were
different and therefore deployed site+1, a solution that screens audiences
and enables offers to be targeted to the audience most likely to respond. Utilizing
data gathered from POE™, [x+1]’s continuous, audience-based, predictive
marketing platform that utilizes automated, real-time decision-making to help
marketers make actionable decisions, [x+1] segmented customers to better understand
their behavior and target the offer.
Test
Each customer was mapped into a different group: PRIZM cluster (17), customer
behavioral segment (18), day of the week (7), bandwidth (4) and designated marketing
area (212). Based on these consumer attributes there are millions of unique combinations
resulting in over four trillion possible combinations!
Result
The optimized offers increased product acquisition by 31%!
Additionally, [x+1] was able to provide the company with valuable customer behavior
insights to help them with their future marketing strategies. |
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