Companies collect massive amounts of data on the behaviour of their customers. How can you benefit from this data to offer your customers the best-personalised recommendation on their next action?
One client, one offer
Recommender systems use similarities between customers and products to target individual clients with personalised offers, resulting in higher sales.
In addition, recommender systems can also help with creating a unique customer experience. They help customers to discover the most relevant items based on their past purchasing behaviour.
Last but not least, personalised recommendations are also a great way to increase brand loyalty.
Todays’ customers expect tailored offers, therefore recommender systems are crucial in retail. It has proven to be of great value in targeting the right customer with the right marketing offer at the right time.
Also, in industries such as telco and finance, customers need to be advised towards the service or product that is most fitted to their needs. A good recommender system will lead to higher sales, clicks, or orders.