Predictive Marketing: A Revolutionary Technology We’ve Been Waiting For
“Know your customer” is number one marketing rule and the starting point of any business. At the same time, it is the biggest challenge for many marketers and business owners. How many sleepless nights have you spent staring at graphs and reports, trying to figure out what is it your customers want and which exact marketing trick resulted in a sale this time?
Fortunately, the development of technology has flourished in recent years and the marketing world has benefited from it as well. Predictive marketing is a relatively new trend that is only starting to gain its momentum, but according to the recent research by Everstream 25% of marketers are already using it and another 47% are planning to do so in the nearest future.
So what is predictive marketing?
Predictive marketing is a solution based on the use of advanced algorithms, machine learning, and artificial intelligence that arms marketers with extremely detailed customer insights. The system collects data on consumers interacting with your brand (be it a website, a Facebook page, or your store), analyzes behavior patterns, and delivers predictions that can further be used to increase sales and drives better business results. The greatest advantage is that the data you get is accurate, well-researched, and up-to-the-moment.
How can you use predictive marketing?
• Ensure you are marketing the right products to the right customers. Predictive technologies are capable of analyzing browsing and shopping history of each visitor, thus letting you know what problems are bugging him/her at this exact moment and answers to which questions he/she is looking for. Knowing this you can create personalized messages, discounts, promotions, and recommend content your customers-to-be are actually interested in seeing.
• Ensure you reach your targets faster. Do your prospects prefer to buy from emails or online catalogs? Or maybe Facebook campaigns are the most effective? Having identified which channels perform the most and which messages your prospects respond to more readily, you can save tons of time and start making profit much faster.
• Eliminate unnecessary spending. Having precise and accurate information about your market, its interest, reactions, and future steps, you can finally stop second guessing and start investing in strategies that actually work.
Predictive marketing seems to be a real breakthrough, especially in today’s highly competitive and rapidly changing world. Giving that personalized solutions is what every brand is trying to deliver to its clientele, predictive technologies are sure to take over the marketing world really soon!