Next Best Offer
Determine the next product to pitch to existing customers that will have the biggest impact on sales and deepen the customer relationship.
Problem / Pain
Sending multiple or irrelevant product offers to a customer can cause them to think negatively about your company. Additionally, research shows that providing more choices can lower a customer’s satisfaction and make them less likely to purchase. Marketers need a way to determine when and how to contact customers so that they avoid spamming and improve product offerings.
Machine learning algorithms determine the right product to recommend to each customer based on past purchase behavior, resulting in better ROI, increased customer satisfaction, higher brand value, and more sales.
Next best offer models need to capture a lot of data, making them complex and time-consuming to build. With DataRobot’s automated machine learning platform, next best offer models can be built with one click.