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Cross-selling prediction is the process of using data analysis and predictive modeling to anticipate which additional products or services a customer is likely to be interested in based on their past behavior and preferences. It is a crucial strategy for businesses looking to maximize revenue and enhance customer satisfaction. By understanding customers' purchasing patterns and predicting their cross-buying behavior, businesses can proactively recommend relevant offerings, increase sales, and foster long-term customer relationships.
The challenge for businesses lies in accurately identifying cross-selling opportunities and effectively recommending additional products or services to customers. Without predictive analytics, businesses often struggle to understand customers' evolving needs and preferences, resulting in missed revenue opportunities and decreased customer engagement.
SaaS companies get 34% of new ARR from cross-selling and expansions. Successful business models thrive by uncovering hidden revenue streams within their existing customer base.
Shimoku´s Cross-selling prediction, powered by AI, provides a solution for businesses to identify customers, accounts, who have the potential to generate more revenue, encompassing cross-selling and expansion opportunities.
Shimoku's predictive algorithms enable your company to pinpoint users who are highly likely to be interested in a cross-sell, allowing you to deliver targeted offerings at the right time. Leveraging cross-sales presents a straightforward method to lift up your company's revenue without increasing marketing expenses.
Predict the products or services with the highest likelihood of successful cross-selling for each customer.Quickly implement and refine AI models to identify customers who are likely to purchase complementary products and services, optimizing cross-selling strategies.
Tailor cross-sell offers to individual customers, amplifying revenue growth initiatives. Witness an increase in customer lifetime value by presenting personalized offers at the right time, boosting average order value (AOV).
The journey begins with uploading historical customer data into our platform. By feeding our predictive models with past purchase history, product preferences, demographics and customer behavior data, businesses lay the foundation for accurate cross-selling predictions.
Through our platform, you can uncover cross-selling opportunities within your customer data. By identifying cross-selling patterns, product affinities, and customer segments, businesses can tailor cross-selling strategies to specific customer needs and preferences, driving revenue growth and customer satisfaction. Among the results of this scoring process will be a list of customers who are most likely to buy new products along with specific product offers, as well as an explanation of the factors driving this decision.
Identifying cross-selling patterns, product affinities, and customer segments
Tailor cross-selling strategies to specific customer
List of customers who are most likely to buy new products along with specific product offers
In the world of AI, the concept of Explainability has emerged as a core of trust and transparency. While AI models are incredibly relevant, their intricate architectures can often operate as "black boxes," making it challenging for users to understand their underlying mechanisms and decision pathways. Explainability in AI aims to demystify these processes, offering clear, intuitive insights into how algorithms arrive at specific outcomes. This is not just about technical transparency but about building a bridge of trust between AI and users. Gaining an understanding of how AI models work will enhance your confidence in the system, encourage broader adoption, and ensure alignment with business goals.
Our platform provides an Explainability layer and transparent insights into the factors shaping model outcomes, enabling businesses to understand customer behavior and adapt cross-selling strategies accordingly. By identifying both positive and negative indicators, you can customize your product offerings and increase the lifetime value of your customers.
At the core of our solution lies an actionability layer that bridges the gap between data insights and tangible business outcomes. Shimoku firmly upholds the belief that the true prowess of AI extends beyond data comprehension; it lies in its ability to instigate actionable change within a company's operations.
Conventional analytics often leave businesses submerged in an ocean of data, struggling to distill actionable insights that can drive real change. Our approach revolutionizes this narrative by not only providing valuable model insights but also enabling businesses to swiftly translate them into concrete actions, thereby driving both monetization and operational efficiency.
Our solution harnesses the power of Generative AI technology to automate the offer creation process for customers with a high probability of cross-selling.Gone are the days of generic, one-size-fits-all promotions. Our AI solution analyzes vast amounts of customer data and model outcomes to craft automatically hyper-personalized offers tailored to each individual which are then seamlessly delivered to them via email.
Act on the insights generated by our Cross-selling model by activating your data across various touchpoints in your Sales and Marketing processes. Whether through personalized communications, targeted campaigns, our solution empowers you to engage customers at the right time with the right message and right product or service, driving meaningful interactions, increasing average order value and fostering long-term customer relationships.
Shimoku API simplifies the deployment of AI models across various platforms, including web applications, Salesforce, Hubspot, and more. With seamless integration capabilities, businesses can leverage Shimoku's predictive analytics to drive hyper personalization and enhance growth and revenue generation efforts.
Start increasing your Lifetime Customer Value today with Shimoku's advanced AI solution.
Join the hundreds of companies already leveraging the value of AI and increasing their revenue with Shimoku. Complete the form and discover how we can help your business.
