A platform serving Consumer Packaged Goods (CPG) companies faced difficulties in maximizing the effectiveness of their coupon distribution. The client sought to enhance coupon conversion rates and increase sales but was hindered by a lack of relevant data. The primary challenge was rethinking the approach to predicting optimal coupon recipients.
Our initial step involved analyzing historical data to identify the percentage of users who redeemed coupons. Following this, we conducted AI product ideation workshops to foster innovative thinking and strategic planning. We then developed a market segmentation and recommendation model aimed at precisely targeting potential coupon users to optimize conversion rates. Additionally, we assisted in laying the groundwork for an AI infrastructure, guiding the client on essential data collection strategies to support a future model capable of realizing their initial vision.
With the new strategies and insights provided, the client successfully secured funding to establish a dedicated data science team. The enhancements in their coupon conversion optimization process not only led to increased sales but also equipped them with a deeper understanding of the critical data needed for sustained success. This development has positioned them to better leverage AI for strategic marketing and customer engagement.
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