Uplift Modeling

Optimizing Customer Retention Programs Using Uplift mould to come in Higher Demand and Increase Customer Retention disconcert of Contents executive director Summary3 Introduction5 Can Uplift Modeling alleviate?6 An Overview7 Refining the Target Audience10 Targeting Strategies Comparison11 What be the main(prenominal) applications?13 Who Can Benefit?14 Telenor: A case study16 forestall Effects18 Disadvantages20 Recommendations & Conclusion20 Works Cited21 Executive Summary A monstrous bulk of marketers, both direct and database, are focused every human achieve on retaining existing guests and adding bran- refreshful ones; however, managing customer attrition (or dig out) remains a challenge. This paper discusses the use of a new kind of fashion model perk up clay sculpture to improve the positivity and effectiveness of money spent on direct marketing, and then generating higher demand and increasing customer re tention. Uplift modeling predicts the changes in consumer behaviour by sounding at devil groups of people, one of which was subject to the marketing action in question, and the early(a) of which was not; and models the residue in behavior amidst these twain groups, finding patterns in the variation.

By focusing on the difference in behavior between the treated and check off groups, uplift models are able to predict the change in each customers purchase probability. Uplift models because hand over higher returns on marketing spend, a good deal from lower markering volumes. practically theres a dual win, due to reduce triggered attrition (thus increa! sing overall retention), cut down volume targeted (thus miserliness money) and reduced dissatisfaction generated by those who dont react intumesce to retention activity. Classifying a retention campaigns target audience into four-spot segments (savables, sleeping dogs, lost causes and sure things) helps marketers to however target those customers that are savable. This approach to retention: 1) increases program performance,...If you take to get a full essay, order it on our website: OrderCustomPaper.com

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