CASE STUDY

Cross-Sell/Up-Sell Analytics Improves Customer Targeting and Customer Profitability for a Financial Services Company

Sep 22, 2016

Business Challenge 

Improving cross sell and up-sell within existing customers.

A leading banking and financial services company wanted to conduct customer analysis to improve their cross-sell/up-sell activities.

Situation 

Non satisfactory customer targeting for cross-sell and up-sell activities.

The client’s existing process for cross-selling policies and offers was not yielding satisfactory results. The client wanted data-based methodology and insights for identifying potential candidates within its existing customer bases, for cross-selling and up-sell activities.

To learn more about Quantzig’s cross-sell/up-sell analytics solutions and how we help financial services companies, speak with our analytics experts.

Solution/Approach 

Regression analysis, product affinity analysis and prospect scoring.

We conducted an in-depth analysis of customers. Based on this, we set up a 360-degree view of their buying behaviour and integrated the model with customer share of wallet. We conducted a regression analysis for factors and offers selection along with product affinity analysis. We implemented prospect scoring with relevant cross-sell/up-sell offers for successful conversion.

Impact 

Improved customer targeting and successful sales bids.

Based on our insights, the client gained visibility on the customer behavior, preferences and share of wallet. As a result, the client was able to create more effective campaigns, which improved success rate, enhanced customer retention with increased profitability per customer while also reducing the cost of acquisition.

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