Predictive analytics is the use of data, statistical algorithms and AI techniques to identify possible future outcomes. This can help you stay ahead of the curve and assess the future of your marketing. Here are a few ways that you can use AI and predictive analytics in your marketing.
Optimizing marketing campaigns
With predictive analytics, it works just like the Scientific Method by having a hypothesis and then proving it either right or wrong. You can use the data to determine what customer segments and audiences will be the most effective to reach and create actionable insights.
With accurate reporting, you can accurately tell whether a campaign was successful and optimize where it may fall short. This lays the groundwork for best practices of strategies to follow, not just in marketing, but sales and business decisions as well.
Predicting customer behavior
Data is the most accurate way to predict a customer’s “next move” in your business model- especially online. Using behavioral data with customer journeys, you can predict engagement points on when you think a customer may convert. You can also track “drop-off points” and see where you may be losing people whether it is due to confusing content or a dead end in the journey.
By mapping these patterns, at both one-to-many and one-to-one marketing, you can give insight into the outcomes of campaigns and help drive to the outcomes that you want.You can also use this information to do profile scoring and build customer models.
According to a study by the Aberdeen Group, predictive analytics users are twice as likely to identify high-value customers and market the right offer. By doing all of this you can identify potential leads and prioritize the ones that are most likely to convert.
By being able to predict customer behavior and build models off that data, you can then personalize your content to target those certain leads. By targeting the right audience at the right time, you can show more accurate paths to ROI.
By using historical data to see the behavior of past customers, you can use that to determine and create personalized messages.
Advanced segmentation dives deep into the behavioural and lifestyle analysis that allows to look at not just demographics, but the actual products like-minded customers are purchasing. Use sophisticated algorithms to scan high volumes of customer data to groups customers into lifestyle segments.
Identify key customer segments in terms of behaviour, interests, preferences and opportunity through advanced segmentation and visualize customers across key milestones bench marked. With the ability to get as granular as you need across unlimited customer attributes, your ability to segment and deliver targeted communications across relevant touch points is infinite.
By employing advanced segmentation, marketers can group customers on products and behaviors, see how they move between segments, and identify motivations that build messaging that drives behaviour.
Deep Segmentation across Customer Segments, Brand Value and Customer Lifestyle can power an Automated Offer Engine. These Customer Indicators Influence and deliver a Next Best Action that engages customers through tailored Product Recommendations, Up sell opportunities, Promotions and Relevant Offers.
With Advanced Analytics platform, you can increase your return on investment across marketing, sales, product and category management, by:
- Understanding Customers/Prospects
- Stimulating Demand with Messaging
- Optimizing Visibility with Marketing Channel Mix
- Becoming the chosen brand in the target Market
- Providing the optimal customer product experience
- Win at every stage of the purchase journey
Empowering Marketing, Sales, Product, and Category Management Business functions to answer key questions with Actionable Insights
- What triggers the realization of a need to purchase?
- What channels do consumers use when researching products?
- What are the important attributes for consumers when deciding to purchase?
- What do the purchasers think, & talk about the products?
- How understanding your customer’s purchasing behaviors and decision-making can drive sales.
The Consumer Journey Module is the first, and only solution for Manufacturers, and Retailers in the technology and Consumer Durables Industries to combine the most comprehensive collection of point of sales data with
- AI Enabled Consumer Review Data
- Online Consumer Behaviour Data
knowledge management is crucial to your digital strategy to:
• Increase customer advocacy and improve NPS
• Provide consistent, platform agnostic experiences
• Build a foundation for knowledge automation
Google Marketing Platform is an unified marketing and analytics platform for smarter marketing measurement and better results.
So, Jellyfish, Google and Napkyn Analytics has partnered to answer the queries related to technical features and integration capabilities of the Google Marketing Platform. And, please Hit Play the below Video to view the Webinar on Demand.
So, you might have realized, Google Marketing Platform brings together DoubleClick Digital Marketing and the Google Analytics 360 Suite to help you plan, buy, measure and optimize digital media and customer experiences in one place. And, Google Marketing Platform helps you deliver more relevant and effective marketing, while ensuring that you respect your customers’ privacy and give them control over their data
And, Google understands that the #1 priority for marketers is to better understand their customers. So, by offering tools that make it easy to collaborate and share insights, Google Marketing Platform helps achieve this customer-first approach to marketing.
And, because Google Marketing Platform builds on existing integrations between the Google Analytics 360 Suite and DoubleClick advertiser products; Marketers have seen great results when they use ads and analytics technology together like
- Search Ads 360 is the new name for DoubleClick Search. Search Ads 360 will continue to help you plan, buy, and measure your search campaigns on Google and other search engines.
- Display & Video 360 brings together features from our display advertising products: DoubleClick Bid Manager, Campaign Manager, Studio and Audience Center. Display & Video 360 allows you to execute ad campaigns end-to-end in one place, creating efficiency in how you work and helping your teams do more together.
You can find More details on Google Analytics 360; and, on how to leverage the Google Marketing Platform in our earlier post “Google Marketing Platform Explained”