The 7 Best Uses for Predictive Analytics in Multichannel Marketing
5. Drive experience by learning about customers, instead of using that information for "promotion and stimulation," Tewksbury says. Once marketers learn—through consumers' interactions with the brand—what interests them, they can provide value. "Analytics have to work toward driving an experience, instead of pushing outbound messages. The crux of predictive analytics is understanding how the customer will respond to your offers," he explains. "But today's consumer tends to have a negative reaction toward outbound marketing, which means you need to use analytics to consider how to create an engaging and relevant experience for the customer in the future."
6. More and more, B-to-B companies can learn targeting tactics from B-to-C businesses, Tewksbury says. "Both B-to-B and B-to-C organizations are gathering more information about their target consumers than ever before. There is also a convergence in the marketing tactics [used by] B-to-B and B-to-C, with a lot of B-to-C functionality creeping into B-to-B to capitalize on the growing volumes of information available. Although B-to-B is more focused on lead nurturing and event management, the same principles apply to B-to-C: Gather information, apply insightful analytics, act upon them and apply what you learned to future content or communications. These are classical database marketing tactics simply practiced through more channels today. The lesson to remember is that today's customer owns the relationship more than organizations do."
7. Remove unresponsive customers from campaigns, Brethenoux says. "Once there is a prediction of which customers are most likely to respond to an offer, eliminate the customers who are least likely to respond from the mailing lists to stay within the budget."
Sadh adds to watch for profitability: "Predictive analytics can be extremely helpful for audience selection for expensive channels such as direct mail and phone. This is particularly true for situations where the available universe is large and only a portion of the universe needs to be targeted."