Analytics Vidhya Insurance Cross Sell Prediction

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Cross-selling identifies products or services that satisfy additional, complementary needs that are unfulfilled by the original product that a customer possesses. As an example, a mouse could be cross-sold to a customer purchasing a keyboard. Oftentimes, cross-selling points users to products they would have purchased anyways; by showing them at the right time, a store ensures they make the sale.

Cross-selling is prevalent in various domains and industries including banks. For example, credit cards are cross-sold to people registering a savings account. In ecommerce, cross-selling is often utilized on product pages, during the checkout process, and in lifecycle campaigns. It is a highly-effective tactic for generating repeat purchases, demonstrating the breadth of a catalog to customers. Cross-selling can alert users to products they didn't previously know you offered, further earning their confidence as the best retailer to satisfy a particular need.