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How to develop a time-affinity model

In the last of this series of blogs on timing, we will look at how to develop a time-affinity model, using a next best action timetable example to illustrate how the model works.

Next Best Action Timetable

Customers require a “Next Best Action Timetable”. This means each customer should be considered for certain types of propositions at certain times of the year, month, week, day and even hour. As creature of habit most people revise to a scheduled and predictable lifestyle.  A timing factor should then be added to your decision model.

What could this look like?

One option would be for your analytics teams to define time-affinity models. At what time would a customer accept a given communication – based on past trends. The model roadmap starts with the time dimensions: Quarterly affinity, monthly affinity, and then daily affinity, half-daily, hourly, and so on. The proposition dimensions could start with the customer. When is the best time contact this customer for any proposition? Then we can drill down to Business issues (Retention, Cross-sell, Up-sell)

An example of this is shown below,

Business Issue

Jan – April

May – Aug

Oct - Dec

Retention

0.4

0.2

0.3

Upsell

0.1

0.4

0.7

Cross-Sell

0.1

0.5

0.6

 

The next phase would be to combine busines issues with product (loans, mobile, broadband) or service type (price alerts, contract end alert).

This timing factor can then be incorporated into the overall arbitration proposition formula.

Next Best Action Timetable Example

A private health insurance company receives a call from its customer, Benjamin Button, to book a hospital appointment. The CSR provides Ben with relevant information on the choose of the specialist to select from. In addition, the CSR is presented with a Next Best Action which she relays to Ben.

The real-time context priorities this proposition,

“A lump sum of £1000 is payable to you

if you use an NHS hospital”

Business Group

Week 1

Week 2

Week 3

Week 4

Appointment Follow-up

0.4

0.2

0.7

0.2

Cross-Sell

0.1

0.4

0.3

0.1

Up-sell Policy

0.1

0.5

0.6

0.2

 

An additional proactive interaction is planned several weeks after Ben has returned from the hospital. The next best action timetable would determine the best time for such a contact, which would be an appointment follow-up (as opposed to cross-sell), to occur based on their previous interaction.

Make a proactive call on Week 3 after hospital referral with a proposition from the “Treatment follow-up” group

That concludes this series of blogs, where we have learnt about the effect of market and generic timing and how to use timing to create a positive customer experience. Culminating in learning how to create a time-affinity model and how this could help your business.

For all blogs in this series, please see below: 

1. How best to understand your customers schedule to make the Next Best Action

2. How market timing can affect a customer’s decision-making framework

3. How to develop a time-affinity model

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