Predictive marketing is a key buzzword in the marketing world today. But what does predictive marketing mean, and how can it help B2B marketers? Brafton defines predictive marketing as, “the strategic use of existing customer datasets to identify patterns and anticipate future customer behaviors, sales trends, and marketing outcomes.” Basically, predictive marketing helps you determine which strategies will succeed and which will fail.
For B2B marketers, predictive marketing can help improve the sales funnel. Specifically, it can help you determine the likelihood of leads to convert to customers through predictive lead scoring. Predictive lead scoring looks at your CRM data and the behavior of past won and lost deals to assign a value to a new lead. Your sales team can work more effectively and efficiently when they know which incoming leads are worth their time and which can be let go.
B2B marketers can also rely on this to segment customers. According to Emerj, there are several ways to segment customers through predictive marketing, including demographics and behavior. Predictive models can also determine the likelihood of customers to convert or churn, as well as the likely lifetime value of a customer. Finally, predictive marketing can sort customers by recommended
products or services. Popular examples of this sort of this are recommended products on Amazon or shows on Netflix. This type of segmentation can help marketers upsell services to customers.
Predictive marketing can join forces with content marketing to deliver successful results for B2B marketers. Using sophisticated algorithms, it determines what right content should be presented to customers at the right time. This highly targeted content can help educate customers and move them further along in the sales cycle.
Ultimately, predictive marketing is a trend B2B marketers can’t ignore in 2019. If you need help implementing predictive marketing strategies, contact the Borenstein Group, Top Washington DC Marketing Agency, today.