Although we aren't quite yet at the stage of being able to see into the future, you can come pretty close to being able to do so by using predictive analytics. A combination of predictive modeling, machine learning, and data mining techniques, predictive analytics allows you to predict the likelihood of future results based on past data.
More and more organizations are using predictive analytics techniques to gain a competitive edge in the market - and for good reason. When done using quality data, predictive analytics can have a positive impact on your marketing efforts, helping to significantly drive business.
Here's how you can incorporate predictive analytics in your marketing strategy:
1. Use Predictive Analytics to Improve the Customer Experience
Your customers touch your organization many times outside the marketing database, so if you haven't engaged in data integration to pull in customer data from sales, billing, tech support, and other areas, you don't have the data you need to truly improve the customer experience. Get a great data integration product and get all those touchpoints together. Then you can predict what those customers want and need.
2. Use Predictive Analytics to Determine the Effectiveness of Your Next Campaign
Want to avoid campaigns that offend, alienate, or simply fail to impress your customer base? Predictive analytics can help you determine potential flops and phenomenal success stories ahead of time -- before you've risked a quarter's marketing budget and your brand's reputation on a shaky campaign.
3. Use Predictive Analytics to Deliver Cross-Channel Customer Engagement
Customers who engage with your brand on multiple channels are more loyal customers. You can use predictive analytics to increase customer engagement across channels. For instance, you can use it to predict which social media your customers are most likely to connect on LinkedIn, Twitter, etc. You can also use PA to determine what blog content they'll most likely enjoy, what videos they most want to see, and what they'd like to get out of your next e-book or whitepaper. These are all your PA side dishes.
4. Use Predictive Analytics to Get Rid of Unresponsive Leads & Customers
Sweeten your marketing database by getting rid of those leads and customers who suck up time and energy but never turn into sales. Use predictive analytics to quietly remove the dead weight out of your databases and put a stop to your decreasing marketing leads. Sure, your messages will reach fewer folks, but they'll be delivered to more qualified leads, resulting in more sales.
Predictive analytics can have an incredible impact on your marketing strategy, but only if you're using quality data. Learn more about data's role in predictive marketing.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.
To learn more about how ReachForce can help you optimize demand generation and your impact on revenue, check out our real-time web form enrichment demo, or request a free marketing data diagnostic. Get the power to let data drive marketing and higher performance.