Predict Which Coupon A
Customer Will Buy
Make All Your Data Work for You
Your customers are a savvy bunch. Not only do they know what they want, they know how to get it at a fraction of the sticker price. In the twenty-first century, consumers aren’t just concerned with luxury goods; they’re interested in experiences: tickets to a sold-out concert, hiking trips to Machu Picchu, cooking classes with a celebrity chef, a day at an exclusive spa. But they still need to keep an eye on their budget. That’s where you come in.
Investing in a new experience is expensive, and the customer is often uncertain of the outcome. Coupons take the expense out of the equation, motivating customers to try things they otherwise wouldn’t dream of. Your coupons offer your customers access to a luxury lifestyle at a fraction of the cost. And your business depends on keeping them coming back for more.
You already know how important your user data is. You have a targeting system in place to help make sure the right customers receive the right coupons, and your conversion rates are high. You’ve heard the buzz about machine learning, but you’re not exactly sure what it can do for you.
You’ve collected months or even years of transactional data for every one of your users. What’s more, you know when they signed up, where they’re from, how old they are, and every page on your site they’ve ever visited. You know which coupons they’ve purchased and when, which ones they’ve put in their basket and later deleted, and which offers they’ve looked at repeatedly but never bought. But your targeting system realistically only applies seven or eight rules to decide which customers should receive which coupons. Which means you’re only using a tiny fraction of the data you’re collecting. Wouldn’t it be great if you could turn all that data into a rock-solid prediction of what each individual customer is going to buy next?
Recommendations Your Customers Can’t Resist
Machine learning can assimilate thousands of pieces of data for each user on your site, analyze their past purchases, and come up with a ranked list of coupons to recommend to each unique user. If you want to optimize your conversion rates and guarantee increased sales, the easiest way is to make sure the right customers receive the right offers.
We all know why people buy: when you need something, and someone makes you an offer at the right moment, at the right price, you take it. Machine learning makes sure you know exactly what to offer your customers and when.
Targeting Each Individual Customer
Your customers are all interested in the next big thing, but no two of them are alike. They’re willing to spend money on status symbols, luxury goods, and extravagant experiences, but cost is still a factor. Your goal is customer retention and optimized conversion rates, making sure people keep coming back for more. How? By sending the most tempting offers to exactly the right users at exactly the right moment. Only a machine can build a tree of thousands of rules and treat each customer individually based on her specific preferences.
Same Coupons, Same Customers – More Money
You can increase your annual revenue by tens or even hundreds of thousands by simply using all the data your customers are already giving you. When it comes to big data, our machine learning process is guaranteed to optimize your targeting system and increase the accuracy of customer purchase prediction.
How Does It Work?
The machine assimilates all the data you’re collecting, learns complex patterns, and makes predictions based on the total picture of past customer behavior. So you know not only what someone is interested in, but when they’re most likely to buy, what their budget is, and whether certain marketing tags (“Going fast!” “Exclusive offer!”) will motivate them to buy. You’re selling the same coupons to the same number of users. All you’ve done is optimize which users receive which coupons.
Machine learning helps you make sure your customers don’t miss out on their next favorite thing. And that guarantees an increase in revenue.
Will it be worth the investment?
Before we start a project, we take time to get to know your business and your data and make sure that a machine learning system will profit you. When we decide to work together, we guarantee that our customer purchase prediction AI will pay itself back within six months.
How will this impact the targeting system I already have?
Our job is to feed optimized information back into your system, no matter which system you use. We make sure the information gets delivered exactly where you need it, when you need it. The prediction will surface as one new attribute in the same tool you’ve already been using. From there, you can use the recommendations any way you’d like.
predicted distribution training
How long will this take?
We build machine learning customer purchase prediction systems in less than two months.
How will this impact customer experience?
Our process is completely behind the scenes. We implement machine learning solutions seamlessly within the system you already have, based on the data you’re already collecting – it’s all about making every bit of that data work for you. The only thing your customers will notice is that the offers you send them are way more interesting.
When is customer prediction not right for you?
It all depends on the data. If your users don’t log in, or if they only come to the site once or twice and never come back, a machine will not be able to learn enough about the user to significantly improve customer purchase prediction. The more user data you have, the more consistent histories and complex information you’re gathering, the more patterns the machine can find, the better it can target, the greater rise in revenue you can expect.
How Do I Know Machine Learning Will Work for My Business?
If you’re already using a targeting system, machine learning guarantees a better prediction process and a much higher conversion rate. The reason is simple: it’s impossible for a human being to factor in all the relevant data you’re collecting on user behavior. There’s just too much of it. Only a machine can accurately analyze months or even years of user behavior for thousands of customers, learn patterns, and objectively apply those patterns to current customers. Without machine learning, you’re leaving tons of potential revenue on the table.
The Perfect AI Partner
We have a string of success stories and happy customers that testify to the ease of our machine learning processes and the advantages of our experience. In fact, we’re so confident in the benefits of machine learning that we guarantee a payback period of 6 months for every customer purchase prediction AI we build.
It’s a jungle out there, and we understand the challenges you’re facing. We know just how to help you optimize customer purchase prediction and ensure the long-term growth of your business. Contact us to find out more!