The robust data and algorithms that power predictive marketing can help create better and more effective personal customer experience–in real-time.
There are several ways in which predictive marketing can create better marketing–discover the leads that are most likely to convert, drive better lead scoring, and match prospects with upsell and cross-sell opportunities. However, Predictive Marketing can also help you create higher engagement with your marketing messages by delivering the most effective message to the right prospect. Personlized customer experience is the future of marketing and data, and algorithms are going to power it.
Why do you need personalized marketing? Didn’t Don Draper just get the same message in front of everyone?
Today, prospects and leads are exposed to a plethora of marketing messages every day. However, Most of these messages are not relevant to them. The result is that prospects have little patience for the “spray and pray” tactics of the past. The short attention span for marketing messages means that if you manage to deliver the right marketing message to the right prospect, you’ll be able to cut through the clutter and reach your prospects more effectively.
This is where predictive marketing comes in. Using big data and predictive analytics algorithms, marketers can optimize the customer experience in real time and make sure that prospects are getting the message that they are most likely to engage with. Here are three steps for personalizing your marketing.
1. Gathering data
Robust customer data helps you understand your customer better. However, according to our experience, the average company has only 10 data points on each customer in its database. In addition, this data is not always up to date.
However, online, you can find deep, updated and robust data, including thousands of data points about companies and individuals. These include technologies, organizational structures, hiring and much more. This robust data is the first step towards understanding your customers and their needs.
2. Finding your buyer personas (or Customer DNA™)
You probably have an idea who your typical customer is for each product. However, in many cases it is hard to identify the most likely customers for each product in advance. This is where CustomerDNA™ steps in. By analyzing the robust data on your customers and comparing it with those who did not end up as customers, we can build a mathematical model that characterizes your buyer persona.
The majority of leads in your database are not going to buy anything from you. However, by applying the mathematical model to all of the leads in your database, we can identify the most likely buyers. Identifying the buyers from the tire kickers can help you craft better and more engaging marketing assets.
Using your CustomerDNA™ and additional data about your customers can help you find interested segments and develop content that resonates with them. Segmentation can be as granular as you want, by industry, use of technology, or any other variable that makes sense. Leads can be segmented in your marketing automation platform in real time.
Here is a simple example. Imagine that you work for a financial services firm and use Eloqua as your marketing automation platform. Now, you get two marketing assets:
- The guide for building better campaigns with marketing automation
- The guide for building better campaigns with Eloqua for financial services firms
Which one are you more likely to read? This is the power of personalization.
Personalization can be a driving force behind effective marketing that resonates with prospects rather than alienates them. The result is higher engagement and more effective and relevant customer experience.
If you want to learn more about data-driven personalization, you can join us for a new webinar on Thursday, April 9 2015 at 10 am PT. The webinar will explore the process of discovery of data-driven customer profiles (or CustomerDNA™) and how to identify key attributes to create targeted customer experiences. In addition, the webinar will teach you how to develop data-driven personalization strategies in less than 30 days. The webinar will be hosted by Tony Yang, Director of Demand Generation at Mintigo, and Ashley Chavez, Director of Marketing at Get Smart Content. Click here to register and reserve your seat!