Targeting Existing Customers to Increase Lifetime Value
As businesses expand product lines and add features, selling these new products become critical to improving customer lifetime value. In addition, it is also very important to target the right user with the right product to avoid spamming, disengagement and wasting promotions on non-sticky customers. During this talk, you will learn how to build models that identify users most likely to adopt a new product or feature using a generalized method, based on use cases from Uber’s own products.
After this session, you’ll be able to:
- Identify features and attributes that correlate with the adoption of a new product
- Build models to identify users most likely to adopt the new product
- Understand whether user conversion was organic (uplift models) or attributed to marketing communications/promotions
- Promote the next best product offer out of all your possible products to a given user