Predictive Marketing: 4 Ways Big Data Is Making Your Brand Irresistible
Predictive marketing is nothing new. Ask any fashion store, and they’ll tell you they’ve been doing it long before it became a marketing buzzword. One of the main tasks of a fashion store manager is to figure out what customers will want next season.
So, why the sudden interest in predictive marketing?
The answer is simple: big data.
In this day and age, when most of our lives happen online, almost every human interaction can be tracked and logged into a bank of data. Big data can help marketers understand their target audience with great accuracy. They have access to a wealth of information, from the clicking behaviors of a person to their purchasing history and their calories intake.
Predictive analytics, the science of making predictions about unknown future events, can help marketers make sense of the vast amount of information they have at their fingertips.
Does It Really Work
To many, predictive marketing sounds like looking into a magic ball. And, that’s not entirely wrong. Just like a magician, predictive analytics pay attention to where people are looking to predict the number they are most likely to choose.
Are these predictions accurate?
According to a recent study, ads targeted based on behavioral cues got a 670% increase in click-through rates than those that weren’t behaviorally target. The results of the study prove that people don’t mind brands collecting their data, using technology programs such as Microsoft Dynamics 365 Calgary, as long as they use it to deliver personalized experiences.
In spite of the importance predictive analysis plays in helping companies leverage big data, studies have shown that 75% of marketers are failing to use it in customer segmentation and campaign implementation. The problem is that most of them still have a difficult time understanding how predictive marketing can help them.
How Can Predictive Marketing Make Your Brand Irresistible?
- Find Out Exactly What Your Customers Want
According to an article from Marketing Week, predictive analytics can help brands create and tailor communication to a segment of one. By using the vast quantity of data available, marketers can tell with great precision what YOU want. We’re not talking about people that live in the same city as you or like the same things as you want. No. Predictive marketing will make it possible for brands to tailor ads based on your unique needs and preferences.
In other words, marketers will be able to tell what you want, when you are more likely to purchase, and how they can position their brand to fulfill your needs. More than that, they’ll know what you want before you even know it.
- Forecast Outcomes
Predictive marketing is all about forecasting – making bold claims based on past behavior and activities. By analyzing your buying habits, clicking behavior, social media activity, and time spent on page, brands can now accurately tell what you are likely to buy before you even decide to make a purchase.
Amazon is testing this theory by putting in place a system that ships goods to people before they order them. The retail giant predicts that people are more likely to keep and pay for the things they’ve received than to send them back.
- Improve Your Email Marketing
Marketers spend a lot of energy and resources on email marketing campaigns that don’t work.
The problem, in most cases, is that they have no clue what type of information their prospects want to receive.
By analyzing data, such as how prospects responded to your past email campaign, what type of subject lines work, and what links they’ve clicked on, you can create follow-up sequences that are tailored to their behavior.
- Create Real-Time Personalization
Marketing is all about sending the right message at the right time. But, in the digital age, you need to be able to send your message in real-time and to the exact people who are interested in receiving it. Relevance and timeliness are paramount if you want your brand to stay competitive.
Predictive marketing can help identify the people who are most likely to engage with your content in real time. By including your customers’ digital behavior into your CRM system, you can track the topics that interest your buyers and deliver personalized content to them in real-time.
With a few minor exceptions, marketers have yet to understand the impact big data and predictive analysis can have on their brands. They need to take advantage of the information available at their fingertips to move their businesses forward.