Up-Selling and Cross-Selling
Customer-specific Up-Selling and Cross-Selling are common methods in marketing and sales. By applying AI, suggestions can be calculated even more precisely and successfully.
Increase your revenue through effective Cross-Selling and Up-Selling campaigns
Challenge
When conducting up-selling or cross-selling campaigns, it is essential to target individuals who are highly likely to respond to the offer. Often, the selection process for such campaigns is still carried out manually using simple rules or heuristics, resulting in success rates that often fall short of expectations.
Approach
AI-based models for calculating the up-selling or cross-selling probability allow for the automated and precise identification of customers who are highly likely to respond to your offer. Historical customer data (e.g., from the CRM) is used to train the AI models. The advantage lies in the parallel analysis of various customer attributes and characteristics. Furthermore, the models can continuously learn and become more efficient over time.
Result
AI enables a very specific focus of up-selling and cross-selling campaigns on the most promising customers. This allows a shift from broad marketing actions to targeted campaigns. This use case can be excellently integrated into other tools, such as marketing automation tracks. Finally, your customers also benefit from AI-based approaches, as they are only presented with relevant offers.
Our strength
Our ecosystem enables a holistic view of data & AI.
years of experience in Data Science, ML, and AI
clients from 10 industries and growing
experts from more than 17 fields of study
successfully implemented Data and AI projects
How Up-Selling and Cross-Selling work
In up-selling and cross-selling, the AI model learns which behaviors and characteristics were specific to customers in the past who responded to certain offers. It then individually analyzes which customers from the current customer base exhibit these same behaviors and characteristics. It is assumed that these customers are highly likely to accept the up-selling or cross-selling offer.
Benefits of AI-based Up-Selling and Cross-Selling
With artificial intelligence, you can continuously calculate more reliable response probabilities without manual effort.
By applying AI, companies can more precisely target customers who are highly likely to respond to the offer.
With more precise target group definition, your customers receive only the offers relevant to them.
Naturally, selling additional or higher-value products also leads to an increase in revenue.
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