Predictive Modeling

THE Challenge

• The client has diverse product offerings with immense cross-sell potential but cross-sell efforts had been lagging.
• Cross tabulation of penetration rates across major product lines showed rates were below the industry average for most product lines.
• Existing initiatives consisted of list sharing.

 

THE Approach

• Benchmark cross-sell penetration across product lines to identify gaps and opportunities.
• Analyze the predictive power of key behavioral / demographic indicators and develop portfolio segments with distinct purchase patterns and propensity using cluster analysis.
• Design customized marketing messages for each segment.
• Launch pilot projects to test effectiveness and generate key learnings.
• Monitor pilots, analyze responses and plan a full scale launch.