Upsell/Cross-sell Conversion

The Challenge

The challenge is to improve the upsell/cross-sell conversion rates from historical transaction patterns. Traditional methods require significant hand-crafted feature engineering.
Target customers should be identified accurately for cross-selling a product and increase the sales conversion ratio.

What we do

Innovation

  • Automated the process of identifying and segmenting customers financial behavior
  • Derived micro segments based on customer behavior and insights into micro segments

Approach

The challenge here is to use historical transactional data and patterns to understand the customer’s propensity to buy a new product. The traditional approach involved segmenting customers based on demographics.

  • Multilayer deep learning network to analyze financial transactions and identify behavioral patterns
  • Segment behavioral patterns using auto-naming clustering techniques
  • Estimate the propensity of the customer to buy a product

Result

  • Explainable actionable insights to sales representatives enabling them to meet targets in quick time
  • Increased the lift in the top 3 deciles (15-55% spread throughout)