Customer Categorization and Incentives
Enhancing Customer Engagement through Targeted Strategies
Summary
Incrementally build out capabilities to classify your customers, customize their experience, and improve success of retargeting. Sometimes it may be possible to categorize potential customers who haven’t converted yet.
Applications can include:
01. Improving efficacy and relevance of communications and targeting
02. Directing to different services or service tiers
03. Curating content, language, campaigns, and incentive types
04Determining initial incentive limits
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Process
Overview
A quick v0 can be stood up within days. After that add on improvements incrementally, typically by building out the set of inputs. The majority of effort for building categorization models is usually in crafting the inputs (i.e. “feature engineering”). Inputs can come from structured internal data, by scraping/connecting external data, and by applying advanced processing capabilities to unstructured data (ex: language models applied to free text, CV applied to images).