Improving Through Next Best Action
Post-Acquisition / Services / Europe / Next Best Action
$2 BI
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$4.3 MI
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73%
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Goal
To increase average product holding through personalised cross-sell marketing campaigns informed by a Next Best Action engine.
Approach
• Carried out Sprint Zero and identified cross-sell as the main opportunity area, starting with Car to Home before expanding to other journeys.
• Adapted WL’s playbook cross-sell template to the specific portfolio company’s infrastructure to develop production-grade code from the start.
• Processed a dataset of 176m+ customer-month combinations and developed a predictive model that identified 73% of cross-sell events in a month.
• Leveraged tech assets to expand the initial cross-sell model from 1 to 9 journeys across 3 products using a recommender model that identifies the Next Best Action for a given customer.
Interventions
• The workflow generates purchase likelihood estimates for 3-5 million customers weekly. A series of filters select high-propensity customers to target.
• Collaborated with the marketing team to create personalized cross-sell campaigns, replacing the generic multi-product newsletter previously used as the main cross-sell driver.
• Marketing campaigns delivered a 70-80% increase in cross-sell performance across journeys, representing approximately $18m of incremental EBITDA.
• Up-skilled the internal data science team on technical best practices through day-to-day collaboration and on-the-job coaching.