Next Best Offer
The primary mission of the Next Best Offer AI solution is to drive increased revenue by predicting the most relevant products or services and then upselling or co-selling to the individual customer.
What is Next Best Offer Algorithm?
The ‘Next Best Offer’ (NBO) algorithm uses customer and transactional data from across the business database to predict the following best action required to enhance customer usage and satisfaction.
Simply, the implementation of NBO will allow store access to the ability to be able to recommend new and complementary products, which are very likely to be purchased by respective customers.
iERP team is here for you to answer your questions!
NBO Benefits
This is what the Next best Offer algorithm can do for you.
- Increase conversion rates with hyper-personalized marketing campaigns
- Boost revenue
- Reduced customer turnover
- Greater customer loyalty
- Increased business intelligence
- Real-time insight on products and services
- Gain competitive advantage
Get engaged with iERP and our software will do this for you!
Why should you use NBO?
Digital hyper-personalisation is an answer. The data collected will lead to further information analysis and transform it into viable sales and discount strategies. These strategies can be used to formulate and action-targeted marketing campaigns that focus on personalizing offers on an individual level to customers, which can be accessed on the store’s website or directly to the customer (specifically through an omnichannel modality). The successful implementation of personalized activities and offers increases conversion rates, boosts revenue, push marketing to another level, and offers the best possible customer experience.
iERP is here to help you with your customer hyper-personalisation strategy!
