Should I increase basket size or number of store visits?
Debating whether you should aim to increase a customer’s basket size or their number of store visits? To solve this challenge, you need to understand what motivates your customers to shop, what and when they’re buying, and how they interact with your brand.
What We Do
- We create an integrated view of your customer organized around their transactions and behaviors – grouping them based on actionable marketing features
- Through finite state models (e.g. Markov Models) we’re able to understand customer patterns and states to identify your next best action
- We classify customers based on their behavior (ie. are they frequency vs destination customers), and use other models such as recommendation engines to identify how to efficiently incentivize another shopping trip or additional items in their basket
We Also Provide Answers to these Questions
- How do customers interact with my brand?
- How likely are my customers to come back, or to churn?
- What other items can I recommend my customers to buy?
- What’s the optimal frequency to reach my customers, and with what type of promotion?