The Challenge

  • Increase spend from Platinum credit card holders.
  • To distinguish the customer segment with variables.
  • Increase its incremental revenue
  • Analyze customer behavior and characteristics to target.

The Solutions

  • Segmented consumers based on Recency, Frequency, Monetary and Spend Category. Mapped lifestyle variables to segments to quantify spend potential and identify spend categories
  • Estimated share of wallet for each category by segment
  • Customize offers based on share of wallet
  • Targeted bill inserts and emails to promote offers

The Outcome

  • Increased spend by 30% over the next 6 months
  • Able to differentiate best and worst segments based on the pattern of spend
  • Understand patterns and reasons to minimize negative segment population and increase positive segment population