Four Ways You Can Use Predictive Analytics to Improve Your Marketing

Predicting the future of your business can seem like looking into a crystal ball. The reality, however, is that you likely already possess the customer data that will help you to accomplish this. All you need are the right techniques. 

Predictive analytics, defined

Predictive analytics is a discipline which allows you to predict the future outcomes of your marketing by helping you predict customer behaviour. This is done by using the information you already have to predict the likelihood of a particular event.

What you can do with it

From improving site traffic to increasing your conversion rates, predictive marketing has many applications. However, it’s the speed at which data is analysed as well as the quality of that analysis which will make the difference. The more information you have at hand, and the better you can organise it, the more likely it is that you’ll achieve success with predictive analytics.

1) Ensure responsive leads

Predictive analytics can be used to identify and eliminate unresponsive customers and leads from your marketing database. It is true that the number of people who get your message may be far lower once you do this. It will, however, provide you with a realistic picture of just who is reading what you send out. Not only that, but once you’ve cleaned your list, all that will be left are those qualified leads that will be responsible for increased revenue.

2) Give customers what they want

If you want to improve the experience your customers have with your brand, predictive analytics is your solution. Using it successfully will involve integrating customer data from billing, sales and other areas, and then using this data to get a picture of what your customers are looking for when they interact with you. Yes, this will likely take time to accomplish, but it can yield a mother lode of data gold for your business.

3) Inspire engagement

Loyal customers are those who engage with a brand over more than one channel. Predictive analytics can help you to achieve that, allowing you to predict which social media platform will be used by the most customers. Your blog can be another channel where predictive analytics can be used, only here, it can be used to predict which content they will deem to be most enjoyable.

4) Avoid marketing pitfalls before they occur

Have you ever wished for the foresight to predict marketing failure? With predictive analytics, you can. Having this discipline in your business tool box means that you can see which campaigns will succeed, and which may flop, and well before you invest any money or your reputation on them.

Getting Started

The first step to using predictive analytics is to identify an area of your business which requires specific attention. Next, take a look at how much data you have and form a list of possible approaches for that area. Finally,  ensure that metrics are In place so that you can see the effect of the changes you make.