In the fourth part of our series on marketing buzzwords, we focus on predictive marketing.Marketing Buzzwords: Predictive Marketing
We explain what the term means, what it all has to do with email marketing and what other possibilities data analysis opens up for companies.
Knowing today what customers will think and how they will act tomorrow – a marketer's dream that is almost coming true thanks to predictive analytics. So you can safely put your crystal ball away.
Predictive Marketing: Data Analysis Instead of a Crystal Ball
When companies use predictive marketing or predictive analytics, they make use of the existing data - for example in the email or CRM system. The information from internal sources is merged with external sources and searched for patterns. This creates statistical personas , which in turn can provide information about the future behavior of their own customers.
The prerequisites for this are a certain amount ghana number dataset of data, availability and the increasing spread of cloud computing. These were largely met in 2016, so it is not surprising that, according to a recent Forbes study, 89 percent of marketing employees surveyed have predictive analytics on their roadmap.
Many possible uses, including in email marketing
The information obtained from the analysis about the potential behavior of customers and prospects can be used in many areas of marketing:
• Target groups can be described more precisely and comprehensively
• The existing marketing budget can be used more specifically
• In B2B business, leads can be qualified even better
• Products and services can be adapted to customer requirements
These are just a few examples of the application of predictive marketing. Many advantages can also be achieved at the channel level. It is worthwhile using it in email marketing because it ensures that marketers always provide relevant information. This prevents unsubscribes and at the same time ensures a high interaction rate. Two factors that are often used as indicators for the success of an email campaign.