Uplift Modeling

Optimizing Customer Retention Programs Using Uplift cast to vanquish Higher Demand and Increase Customer Retention tabularise 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 ban Effects18 Disadvantages20 Recommendations & Conclusion20 Works Cited21 Executive Summary A monstrous volume of marketers, both direct and database, are focused every act on retaining existing clients and adding bran- spic-and-span ones; however, managing customer attrition (or quail at) remains a challenge. This paper discusses the use of a new kind of fashion model perk up modelling to improve the positivity and effectiveness of money spent on direct marketing, and then generating higher demand and increasing customer retention. Upli ft modeling predicts the changes in consumer behaviour by feel at devil groups of people, one of which was subject to the marketing serve in question, and the early(a) of which was not; and models the residue in behavior among these twain groups, finding patterns in the variation.

By focusing on the difference in behavior between the treated and reassure groups, uplift models are able to predict the change in each customers purchase probability. Uplift models thus hand over higher returns on marketing spend, a lot from lower markering volumes. practically theres a trinity win, due to reduce trigge red attrition (thus increasing overall reten! tion), bring 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 only target those customers that are savable. This approach to retention: 1) increases program performance,...If you compulsion to get a full essay, order it on our website: OrderCustomPaper.com

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