Video Transcript
In this video, we will go through how you can use Optimove’s predictive attributes to identify your potential VIPs and nurture them to build loyalty with high value customers.
Your VIP customers will generate a significant portion of your company’s revenue, meaning it is key to focus your marketing efforts on keeping them loyal. To take this one step further you can level up your VIP strategy by building strong relationships with your potential VIPs before they even know they will become one.
Rather than building a complex VIP model, you can use our predictive Top Spenders model to identify your future VIPs.
Optimove classifies Top Spender as customers in the top 5% of your customer base in terms of deposit/purchase amount and net revenue. To identify customers that are likely to become a Top Spender, we analyze the behaviors and attributes of previous Top Spenders and identify these signals in other customers.
First go to Customer Attributes and find the Top Spenders predictive attribute. You can use the Becoming Top Spender Score to segment customers base directly based on their probability to become a top spender. For example, segmenting customers that have a probability of becoming a top spender of 80% or above.
We can then name the target group as Potential VIPs – Top Spenders. Then we can see we have 377 customers in our Target Group.
So now that you have identified your potential VIP customers, you can begin to target them with campaigns enticing them to become VIPs with special promotions and offers.
To learn more about our predictive models, feel free to reach out to your CSM.