Predictive analytics is a special kind of statistical analysis that is afforded by the advent of big data and data analytics. While most data analysis is focused on the past (what happened, and occasionally why it happened) or the present (what's happening now, and if possible, why it's happening), predictive analytics looks to the future. Based on historical and current data and trends, it makes predictions and forecasts.
Predictive analysis can answer many questions about your customers, helping to generate more leads and convert more prospects to sales.
1. Which Leads Have the Highest Motivation to Buy?
Which leads are those who are actively seeking a product like yours? Which types of leads are most likely to want something like you have to offer? Predictive analytics gives you a new tool with which to hone and refine your customer profiles (via demographics, firmographics, psychographics, and other criteria) better than ever before.
2. What Content Offers Potential Leads (and Customers) the Most Value?
Does your ideal lead or customer respond well to ebooks or are they more interested in lighter, breezier guides like infographics? Perhaps the best tools for your potential clients are how-to videos and SlideShare presentations. Predictive analytics can tell you what content is most likely to resonate with your ideal customers.
3. Which Channels are Motivated Leads Most Likely to Be Reached?
The average marketing professional uses 15 or more channels for lead generation and connecting with customers. Which are essential for your marketing efforts? Which can be dropped, or used less frequently? Predictive analysis can help you refine your channel use to optimize your efforts.
4. Which Campaign Themes are Likely to Generate the Most Enthusiastic Leads?
What types of campaigns resonate well with your particular clientele? Some customers respond well to messages that address their pain points. Others like campaigns that speak to making their jobs easier or help them serve their own customers better. Predictive analysis can help you predict what themes, messages, and tones will generate the best response from your desired leads.
5. When are Messages Most Likely to Be Found and Received Well by Promising Leads?
Are your leads most active in searching for information in the morning hours on weekdays, or are they usually easier to reach during the evenings later in the week? Predictive analytics can help you make the most out of your ad budget by helping you connect with leads and customers when it generates the most and best responses.
In short, predictive analytics can give you a deeper, fuller, more comprehensive picture of your ideal customers so that you can predict when, where, and how to capture other great leads just like them.
Not sure where to start when initiating a predictive analytics strategy? Successful predictive analysis depends on 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.