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6 Best Uses of Predictive Analytics for Cross-Sells and Upsells

February 8, 2012 By Heather Fletcher
Predictive analytics can help marketers upsell and cross-sell products to customers. But the key word in that sentence is “customers.”

So says Stephen H. Yu, vice president of data strategies at Papillion, Neb.-based data provider Infogroup.

Different divisions handling different channels or various departments in charge of various products can cause problems for customers if companies decide to organize data based on those guidelines alone when creating predictive models. So instead, Yu suggests, “Companies should go through a paradigm shift towards 'customer-centric' marketing. Even the best-designed databases and models will turn out to be ineffective if marketers use such tools with 'division-centric' minds. That is how one customer ends up getting confusing offers in [a] short timeframe from the same company.” 

This is just one bit of advice about how marketers can best use predictive analytics to identify cross-sell and upsell opportunities. More suggestions come from Yu and: 
1. Rethink the data to include. Miller's comment that “CRM is the new black” is only slightly tongue-in-cheek. Customer relationship management efforts in channels such as social media are yielding many insights that she says should be included in data-gathering efforts for predictive models.
 

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