Optimize bundled offerings
This organization sought a solution to increase the visibility of its bundled packages, a better value product for customers.
Challenge
They wanted to both acquire new customers as well as to retain and up-sell existing customers by providing added value through specific, highly targeted bundled products and services.In order to achieve this successfully, the organization needed holistic customer data to understand who could take up various services and, therefore, which customers would be most interested in which bundle offer.
Solution
They chose to implement more sophisticated predictive modelling to identify, based on historical customer behaviour data, which customer segments are more likely to respond favourably to the different bundled offers.With the blended solution offered from Pitney Bowes Software, including Portrait Customer Analytics, the organization can continually revise and amend the models based on response rates to rescore the segments in order to further ensure the right offers are being made to the right consumers to maximize the lift achieved versus less targeted campaigns.
Benefit
- Improved response rates for bundled packages by up to 200%
- Improved acquisition rates for products
- Enhanced number of products held per customer
- Enhance customer lifetime value