Every time you purchase products or services, data is being collected. For example, when you become a VIP member of your favourite clothing line, you’ll probably provide basic information such as your email address, phone number and home address. Depending on the company you’re purchasing products from, they may even ask you to supply more detailed information. This can include listing your favourite products, so the company can send you an email alert when those products go on sale. Or, you may sign up to be contacted for products soon-to-be released that have captured your attention. All of the data you provide, in conjunction with the products you are purchasing, assists companies in creating a consumer profile of you.

Often you may be unaware of the amount of information you provide companies, as well as where this information may be disseminated. It’s a bit like attending a work Christmas party with an open bar, where you overindulge and tell a close work colleague that you’d like to hook up with the hot stationary delivery guy; or that your boss looks like an overweight version of Donald Trump; just with a slightly better haircut. While you may think you were only whispering, everyone in the proximity of more than 15-feet has managed to overhear you.

In digital terms, the information that companies are inundated with on a daily basis about their customer base, (which they either strategically collect or is revealed through client interaction), is now referred to as “big data”. Predictive marketing is a way of interpreting this data, by incorporating efficient customer relationship management (CRM) strategies, technologies and practices, in order to determine future sales patterns.

To highlight how predictive marketing, based on CRM analysis of “big data”, will shape the future for both B2B and B2C sales, I have highlighted the advantages of using this analytical marketing approach. If you need assistance with techniques to increase your collection of “big data”, as well as more effective CRM strategies to analyse the data you’ve collected, find a digital marketing expert to guide you.

MORE TARGETED MARKETING SPEND

With predictive marketing you can more accurately target your marketing dollars, as you know what products and services different market segments are interested in, and are looking to buy.

DIRECTLY INFLUENCE FUTURE PRODUCTS AND SERVICES

The more you know about your target market, through the results uncovered by predictive marketing, the better you can provide the products and services they need. This can also assist you in introducing new products and services, that you customise based on this knowledge.

HIGHER RATE OF CONVERSIONS THROUGH MORE STRATEGIC CLIENT OUTREACH

It’s not rocket science, the better you know your target market through predictive marketing, the more efficiently you can create your sales and marketing campaigns, which will result in increased conversions.

MORE EFFICIENT SEGMENTATION OF DATA

Through predictive marketing you can better segment your target market, and focus marketing of products and services to the relevant segment of the market.

OPTIMISE INFORMATION ON BUYER PROFILES

By analysing “big data” using predictive marketing, the more effectively you can target your marketing campaign to suit different buyer profiles, and achieve a higher rate of conversion!

Need help with predictive marketing and your CRM strategies, to increase your market knowledge and conversion dollars? Call the digital marketing specialists at Ad On Digital today on 1300 055 091. You can also send an enquiry via email if you would like further information on the services they provide.