Developing effective marketing strategies using reinforcement learning
Reinforcement learning can significantly improve marketing strategies in multiple areas. Let's now talk about some of them.
Personalized marketing content
In relation to the previous section, there is always room for more personalization in marketing. Rather than sending the same email or flier to all customers, or having rough customer segmentations, reinforcement learning can help determining the best sequence of personalized marketing content to communicate to individual customers.
Marketing resource allocation for customer acquisition
Marketing departments often make the decisions about where to spend the budget based on subjective judgements and/or simple models. RL can actually come up with pretty dynamic policies to allocate marketing resources, while leveraging the information about the product, responses from different marketing channels, and context information such as time of the year...