Leveraging Predictive Marketing and Sales technology to grow revenue.
Predictive marketing can be used to target and attract prospects that have the highest propensity to act/spend like your best customers, and which are most likely to close sooner. As well, based on predictive marketing technology’s ability to accurately score leads, you’ll also know exactly which leads from other sources (e.g., non-predictive channels, current leads in pipeline) have the highest propensity to buy like your best customers.
The steps in creating a predictive model include: extracting a list of your best customers, enhancing that list with third-party data, then using the enhanced list to train the predictive model which measures three key variables:
Fit: How closely a prospect resembles your best customer profile.
Engagement: How much a prospect has interacted directly with your company and its marketing and sales initiatives.
Intent: Key actions across the web that indicate buying intent for both known and unknown prospects.
Predictive marketing uses data science measuring trillions of data points to provide you with a probable outcome – e.g., a prospect’s similarity to your best customers and the likelihood of purchasing your product or service. This is not a crystal ball, or mystical solution based on arbitrary assumptions. These are facts based on proven science.
For Marketing and Sales, there are two primary use cases for predictive technology: Predictive Lead Scoring and Predictive Demand Generation.
Predictive Lead Scoring.
Using predictive marketing and sales technology, you can accurately score incoming leads in real time so your sales team can focus on the highest priority opportunities. Likewise, you can score leads already in your CRM or database.
Lead scoring using predictive technology is remarkably different from manually scoring leads or setting up best-guess lead scoring rules in your CRM. Manual and CRM-rules-based scoring methods are typically based on a handful of variables and assumptions. Predictive model based lead scoring measures and scores every single lead based on trillions of variables, making it exponentially more accurate than other methods.
Predictive Demand Generation.
Predictive demand generation determines the prospects that are the best fit for your product or service, and the most effective channels to reach them. Instead of casting a wide net and wasting money trying to reach everyone, you can focus your time, budget, and resources on reaching the right audience(s) through the right channels.
Predictive also provides accurate and actionable information that help you shape your offers and marketing communications to further optimize your ability to generate qualified leads that spend more and close sooner.