The growing capacity to collect and store data has provided companies with improved capabilities for retrospective and real-time analysis. Now, thanks to these technologies, patterns can be drawn and conclusions drawn about mistakes made so that they do not fail again. Or you can identify the most successful solutions and repeat them.
Predictive analytics or predictive intelligence goes further. Marketers are using predictive intelligence technology to deliver what their customers want even before they know they want it. That’s because this technology creates a customer experience that is unique to a particular individual by monitoring customer behavior and building a profile of their specific preferences. The data from this profile is used to predict what customers will want next.
Predictive intelligence is under the umbrella of artificial intelligence. In marketing specifically, predictive intelligence organizes and analyzes data with the purpose of predicting some kind of customer behavior. This technology uses this data to form actionable ideas that marketers can use to inform their campaigns.
Why is predictive intelligence so important?
The key is personalization, and this trend is essential to the success of marketing as it is known today. In fact, the vast majority of consumers have chosen, recommended or paid more for a brand that offers a personalized experience.
Predictive intelligence allows marketers to offer personalized marketing. By using a potential customer’s behavior and past purchase history to determine what they are looking for and whether they are even looking to buy. Predictive lead rating uses big data to determine which leads are most likely to ‘convert’, so marketers can focus on the leads that will provide the most value to the company. Marketers can customize their campaigns not only for certain customer segments, but also for each individual customer.
For example, they could search social networks, public databases and websites and combine that information with internal customer data to help companies find optimal sales prospects.
In addition, predictive intelligence allows this type of analysis to happen instantly, in real time, so that human analysis cannot compete. This results in better and faster decision making.
How can you take advantage of this technology?
Predictive intelligence tools are helping companies improve their results and reach customers more effectively. But in order to achieve this, it is convenient to take into account the following points:
- Facilitating more accurate scoring
Lead qualification is the process or system used to classify the sales availability of each lead you generate. Marketers obtain scores based on a set of predetermined criteria so they can better route, nurture or sell to them.
Predictive intelligence allows for a much more comprehensive approach to customer qualification. In fact, it can identify patterns in the fingerprint, from the terms they search for to the web pages where they see the products they’ve bought in the past. Predictive models can analyze these behavioral patterns and accurately predict when each potential customer will be ready to make a purchase and what actions will accelerate them through the sales cycle – all in an instant.
- Provide real-time recommendations
Predictive intelligence allows marketers to create dynamic and targeted web experiences. When a customer visits a specific page or views a certain item, your site can process this data in real time and provide personalized recommendations based on that person’s actions. Instead of creating a static website, predictive intelligence makes your site intuitive and unique to each individual customer, which can dramatically improve conversion rates.
An example of this is the giant Amazon, which uses this technology to recommend products and services to users based on their past behavior. Such recommendations represent up to 30% of Amazon’s sales. In addition, Amazon has plans to develop a tool that is expected to deliver products to areas where orders were expected even before those orders were placed on the site, reducing product delivery time to customers.
- Improve the content marketing strategy
Content is an increasingly important part of the buyer’s journey, and predictive intelligence helps marketers tailor their content marketing strategy to the needs and preferences of each potential customer.
Predictive intelligence analyzes prospect data and provides insight into the themes, tones and content types that your target customers respond to. Given the time and energy required to create content, this knowledge is essential to an efficient and streamlined content creation strategy.
- Improve and scale up SEO efforts
Search engine optimization is a never-ending process of adjustments and reactions. As Google’s algorithms are updated throughout the year, marketers often become out of step with current trends and their website quickly becomes obsolete.
Predictive intelligence allows marketers to collect and analyze data to help them anticipate and react to trends quickly.
- Update the email marketing strategy
Email marketing is one of the oldest marketing tactics, but it is still one of the most effective. But, the standards for email marketing have changed. One-off campaigns are no longer effective and must be replaced by personalized emails that correspond to the recipient’s preferences.
Predictive intelligence has made it possible for email marketers to customize their B2B marketing emails to meet the needs of each individual subscriber. The most common example is an ‘abandoned cart’ email. A customer places an item in their virtual cart and then leaves the page. After a predetermined amount of time, modern marketing automation platforms can send this potential customer a follow-up email, reminding them to complete their purchase.
- Identify online actions that cause off-line decisions
Digital marketing specialists know that campaigns that are done online are often compatible with off-line ones. However, finding out what kind of online content triggers offline actions, for example, visiting the physical store more, is not always easy, but predictive intelligence can help.
Conclusions
Predictive business intelligence technology, such as machine learning and Artificial Intelligence, are no longer strange concepts that can be ignored. They are here to stay and change digital marketing as it is known today. Both allow marketers to create customized solutions for customers and keep abreast of related trends, and this can help businesses be more efficient in the future.
The implementation of predictive intelligence in marketing and sales has a huge potential for lasting positive effects, and should be considered essential for 2020 strategies.
The value that this technology can bring to a company that wants to grow is clear, and applied across the spectrum, it offers companies of all sizes a real customer focus, improving all aspects of the experience to generate greater loyalty.
As technology continues to evolve, marketers can no longer rely on guesswork to develop their campaigns. To deliver consistent results, they must embrace the new wave of technology that is emerging.
But without ever losing the human element of marketing. Just as technology can perform complex data-based analysis better than the human brain, marketers can inject personalization, humor and emotion into campaigns in a way that predictive intelligence cannot fully mimic. Together, marketers and predictive intelligence pave the way for a more informed and efficient marketing landscape.
