The Leading American Luxury Jeweler was launching a new, very high price point product line with a design that was a departure from their typical design aesthetic. They knew that the universe of customers it would appeal to was very small., but there was limited marketing budget available to identify and drive new customers to purchase.
To meet sales goals, they were going to have to drive sales through their existing customer base and rely on their sales professionals to do the bulk of the heavy lifting. The challenge – how do sales professionals know who is most likely to purchase such an expensive, aesthetically specific product line so they can focus efforts on the right customers? We knew that they would have a good sense of which of their own top customers were most likely to purchase. However, there was a large pool of less known customers who have spent a great deal but are not as easy to predict.
We partnered with an up and coming AI vendor to establish a clienteling pilot that would predict, to the highest degree of certainty possible, which customers of that particular location were most likely to purchase within this product line. We set up 5 test stores and 5 control stores to ensure we were measuring results accurately, and trained the sales professionals how to track engagement with customers on provided clienteling lists.
The results: sales lift beyond what anyone could have anticipated (seven figure incremental sales in 5 doors) and the basis for a business case to invest in operationalizing and prioritizing the AI solution and Sales Professional training globally.