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What is NBO?
Next Best Offer is a form of personalized marketing based on predictive analysis. It recommends the services or products in which your customers are most likely to be interested in.
Why?
- Increase sales across your wider portfolio
- Support personalized marketing
- Improve customer experience
Useful for
- Marketing
- Sales
NBO Example
In the example above we can see predicted likelihood of service purchase of 3 customers for 3 services (A, B, C). Here we propose services users are most likely interested in (checkmarks). However, we could also take an approach where we would balance the recommendations accross the whole portfolio.
Benefit
Increases marketing effectiveness and improves customer interest in services with a personalized marketing content.
Roles
- Director of Marketing
- Marketing Manager
- Head of Sales
Industry
- Banking
- Telco
- Retail
- Insurance
Top 5 reasons for John
The following features have contributed the most to recommend service B to John:
1. John has high income
2. John is a high spender
3. John has low balance
4. John is a mobile app user
5. John is a web app user