In an industry where customer acquisition is fairly expensive, this company’s repeat orders were at a low 4%.
The Before State
Sales teams tried to sell new products to existing customers based on shallow analysis of previous transactions and ‘gut’ feeling.
The LatentView Solution
Built an innovative recommendation engine that combined customer segmentation, user-based collaborative filtering and market basket analysis.
The After State
- 20% increase in value of new orders from existing customers.
- Higher customer satisfaction due to precise recommendations.