Service Groups can have a major impact on your conversion and communications within the platform. Here are the ways that Service Groups influence different areas of Core iQ:
Service Groups determine automated and campaign communications
Your choices as to what is included within a Service Group help determine what is available as report filters, as well as automated schedule filters. When you create an audience in Core iQ, you can use a variety of filters to find individuals with qualifying accounts. More often than not, these filters are heavily influenced by the groups of products that you have created in the Services & Groupings area. By creating a group of products, you are essentially creating a single set of qualifying accounts that can be used for both audiences and campaigns.
Service Groups determine cross-sell priorities
Within a given audience, you can tie any number of cross-sell priorities to an automated communications schedule. Every time a cross-sell touch point triggers, it will check against these priorities to see whether a customer already has a product tied to that cross-sell template. If they do, Core iQ will skip that priority and move on to the next one. It will continue to do this until it finds an offer that is tied to a Service Group in which the customer doesn't already have a product. If your Service Groups are too large, then customers might not receive relevant offers for products that they could potentially not have.
Service Groups determine what qualifies as a conversion
Even more importantly than communications is the fact that your Service Groups help determine what is counted as a conversion in Core iQ. Every 'Product Offer' template in Core iQ must be tied to a single Service Group. When that communication is sent, Core iQ will check whether a customer obtains a product in that Service Group at a later date within your conversion window. If they do, then Core iQ will mark that as a conversion. It's important to note that they may not have necessarily obtained a product directly related to that template, but that product will still need to be a part of the Service Group to count as a conversion. For example, let's say that you sent me an offer about a 12 month CD and tied it to your CD product group (which includes your 12/18/24/36mo CD products). If I then obtain a 24 month CD, I would have opened a product within the CD Service Group, therefore counting as a conversion. Even though I didn't open a 12 month CD, like the offer talked about, I still opened a CD and therefore still converted.