Predictive Analytics: Futuristic Fortune Telling or Possible Praxis?
Optimise, tailor and predict. As online competition thickens, customers place tough demands on you as a digital marketer. We’ll explain why predictive analytics might be the solution to some of your marketing problems in 2018, and answer the question: is it really that complex?
Stay Two Steps Ahead of Your Customer
From Mathematicians to Marketers
Admittedly, predictive analytics isn’t the new kid on the block. But as the competition in the digital arena intensifies, marketers focus on the marvelous insights mined from customer data and computers work harder, better, faster, stronger: predictive analytics is quickly becoming the belle of the digital-marketing ball.
5 Quick Examples of Predictive Analytics in Action
2. Predictive analytics can be used as a way to find out when, how and in which channel you should communicate with what customers. Additionally, it can help you analyse what kind of content you need to push in order activate and boost a specific segment or customer through the sales journey.
3. Furthermore, it can help you to decipher and predict the optimal steps in each customer journey and feed your marketing automation machine with content sent out to the right person, though the right channel, at the right time.
4. Product recommendations can be dramatically improved with the help of predictive analytics. By analysing the customer’s browsing history and purchase history, you’ll be able to predict what products the customer might like or need in the future.
5. A fifth example is to predict when the customer needs is likely to return for a purchase. For example: if you sell ink cartridges, you can calculate how long it takes for the the average (or particular) customer to use up the last droplets of ink. With this method, you'll reach your customer with relevant messages and (hopefully) impress with your level of proactivity.
Predictive analytics can be used at an advanced or simple level. Regardless, when you decide to leverage the power of predictive analytics in your digital marketing scheme, you'll notice a boost in your business in both knowledge and revenues.
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