Almost everyone who owns a website uses web analytics to understand past user behavior and to make decisions for future marketing campaigns Canada Email Address List based on this data. However, the sheer volume of data most businesses collect these days makes it nearly impossible for a mere mortal to isolate useful information without the help of AI. This is where predictive analytics can help. Summarn What is predictive analytics? Suggestion engines Targeted content Reduce customer loss Identify and target high added value customers Conduct lead scoring to qualify your prospects Conclusion What is predictive analytics? By using maching learning to create algorithms capable of analyzing large data sets and making predictions about future performance, predictive analytics enables businesses to make better, real-time decisions that improve the consumer experience. .
There are many ways you can use predictive analytics to design campaigns and digital experiences that are more engaging with audiences and to make sure you’re delivering the right message at the best possible time. Below are some ideas. Suggestion engines Have you ever wondered how services like Netflix and Spotify can bring us content that suits our tastes and moods? AI allows these companies to build powerful suggestion engines that know exactly what you’ll want to watch after completing the final season of Ozark, for example, or how to tailor a playlist based on the songs you’ve just skipped. Even if you’re not in the streaming business, you can still use predictive analytics to cross-sell and up-sell, which increases the number of items in orders and ensures that customers find everything they need. they need it on your site and not that of a competitor.
Identify and target high added value customers
Targeted content Most of us actively strive to deliver more personalized and targeted content to our audience. It can be difficult, but using predictive analytics makes it a lot easier. Predictive analytics can, for example, identify when customers will need to restock a specific product or order a complementary one based on their past purchasing behavior. It can also predict when a customer will experience an important event in their life, such as a move, for example, which can help businesses communicate with consumers during these crucial times. Reduce customer loss Without predictive analytics, it’s difficult to know exactly when a customer is most likely to abandon your business in favor of a competitor. Not knowing when clients are planning to leave the ship means you may miss the opportunity to attempt to detain them.
Predictive analytics can proactively identify customers who are at high risk of disaffection, allowing your business to put effort into winning them back before it’s too late. Identify and target high added value customers.It is a universal marketing fact that not all customers are created equal. Some clients are low value, some are fairly high value, and the majority are somewhere in between. Imagine the potential impact on ROI if your business was better able to identify higher value customers early on. Identifying these high-value customers early on means you’ll be able to put more effort into retaining these customers and their long-term loyalty.
Conduct lead scoring to qualify your prospects
Conduct lead scoring to qualify your prospects Very similarly, predictive analytics can not only help you identify the highest-valued customers, but also identify those who are most likely to become customers (and quality customers) first. place. Rather than spending countless hours of trial and error crafting a lead scoring formula, predictive lead scoring can algorithmically do this job with greater precision. Conclusion Predictive analytics is about making data available to you to enable your business to make better business decisions that will impact your brand’s overall digital experience. Whether it’s enabling you to strategically reduce customer loss or providing you with the insights you need to deliver more personalized and relevant content to your audiences, predictive analytics has a powerful role to play in any digital marketing strategy.