Knowing what your customers want and how they want it is critical to delivering effective marketing messages. Julian Narchet, mass communications professional, says businesses can realize many benefits by using predictive analytics in their digital marketing plans.
It can help you identify trends and patterns in customer behavior so that you can make data-driven decisions for your marketing campaigns. Below, Julian Narchet will outline some of the main benefits of using predictive analytics in digital marketing and some techniques and tools you can use to leverage it.
Weather can considerably impact sales, depending on your industry and sector. It can affect what customers do – such as influencing them to see a movie when it’s raining – and how they feel. You can target customers based on weather-related events to create additional sales.
Predictive modeling can help you integrate weather data for when certain weather events are most likely to occur. Then, you can schedule advertising around the particular weather event to target specific segments of customers.
An extremely effective way to leverage predictive analytics is to create and refine a recommendation system. If you can predict what your customers want to purchase, watch, read, or listen to, you can capitalize by providing that directly to them.
Machine learning and artificial intelligence-backed programs have helped some of the largest companies in the world find enormous success doing this. But it’s not something that is relegated only to large companies with a lot of cash on hand.
A solid recommendation system that works can increase sales by 10% or more if rolled out right. This can come in the form of “you may also be interested in” sections at the bottom of your e-commerce site or personalized emails highlighting different products or services customers have indicated they might like.
This type of predictive analysis is something the customer desires, too, since you’ll be customizing the experience for them.
Successful lead generation is essential for any organization. How the organization can progress the leads through the sales funnel will ultimately determine how well they convert and generate sales.
The challenge, of course, is that it’s hard to tell which leads are “hot” and which leads are “duds” until you start prospecting. With predictive analysis, though, Julian Narchet says companies can improve how well they convert their leads.
This can be based on a model of machine learning that automatically categorizes the leads into different buckets. For example, the “hot” bucket would have the best chance of resulting in a sale in the quickest amount of time. As such, it would tell the company’s sales team to prioritize those leads, which could result in more considerable growth for the company.
About Julian Narchet
Julian Narchet is a marketing and mass communications professional and a Communications Manager at the University of Miami. He has extensive experience in customer service, market research, academic research, research administration, social media, public relations, and event management. He is passionate about making a difference in the lives of others through cooperation with non-profits and healthcare organizations.