By 2018, it is estimated that 85% customer interactions will be automated. AI holds immense potential for marketing
departments and changes the perception of relationships in the customers mind. Here’s how Predictive Marketing could help you unlock the untapped potential in your business.
- 360 Degree Customer View – Organisations that have a single customer view can segment customers based on value, understand depth of marketing applicable to different customers, and identify those at risk of leaving. Putting data together and drawing conclusions from it was done by large companies with technology and teams at disposal. Predictive marketing solutions uses available data and develops a predictable view, allowing you to develop strategies that will drive substantial improvements in performance.
- Understand Customer Maturity – Social networks or apps used by customers contain information which can be used to predict the value generated. Linking your sales reports, marketing campaigns, customer database and social media activity is all possible now. Predictive marketing solutions pull up all the relevant data in your organisation and make it easily accessible through an interface. You can now focus on driving sales rather than getting lost in excel. Artificial Intelligence will accelerate marketing and sales. It will take over all the boring stuff while marketers can concentrate on tasks where human interaction is needed
Courtesy – WeeklyMarketingTips
- Prioritize Your Leads – A company’s database of customers and leads is bigger than what the sales team can deal with everyday. The sales team will then have to prioritize the leads that have the best chance of converting. This is clearly not a scientific approach and makes a provision for lost sales as they were not contacted at the right time. Predictive analysis platforms use multiple data sources and machine learning can score leads according to value and possibility of conversion.
- Be Proactive At Each Opportunity – Companies with many customers and a long list of products face a familiar problem. How will they know which products to target at which segment? Of course you can ask the customer what they need, but by the time your are done your competitors would have enticed them with a nice offer, and you lose a customer. As this goes on sales planning becomes difficult. Predictive marketing solutions use your data feeds and product details to generate optimum sales numbers and retention strategies to maximize sales, value and resources.
- Prevent Revenue Loss – When you work hard to bring in more business, your customers are always under attack from other competitors. Understand your customers, their value, and whether if likely to leave you as it will be useful. Would it not be great if you could predict this and modify your strategy?
Artificial intelligence uses all your company’s data and with machine learning, you can identify those that matter to you. It helps in building marketing strategies
and retaining customers. As it is predictive, you will know what to expect in advance.