The B2B case for predictive technologies
The growth of digital channels has changed the B2B buyer journey. With more information available online for buyers to investigate and compare options, B2B marketers increasingly focus upon rewarding and personalised journeys for customer acquisition. What’s more, with up to 10 decision makers to satisfy, marketers must tailor their marketing programmes to reach a broader set of influencers earlier in the purchase cycle.
Predictive marketing technologies can forecast your prospect’s need before you are aware of it yourself, using data with AI and machine learning to predict search actions and alert you to potential demand so you can take the appropriate marketing or sales action. Yes, you can jump the queue with predictive marketing.
According to a study by Forrester, predictive marketing analytics can create the “deeper buyer insights ” marketers need in today’s Big Data world. The Forrester study concludes that, “Predictive Marketers are 2.9x more likely to report revenue growth at rates higher than the industry average …and 1.8x more likely to consistently exceed goals when measuring the value their marketing organisations contribute to the business .”
The message seems clear: predictive marketing drives revenue.
If you are considering adopting predictive technologies or are evaluating your current use of Big Data, continue reading to discover 3 predictive marketing use cases that every B2B company should strongly consider.
If you’d rather discuss your predictive marketing strategy with a member of the Think Beyond team direct, call 01625 682110 for a no obligation chat.
Predictive analytics your B2B company needs
Ready to take your marketing performance further? Here are three ways to boost your business revenue with predictive marketing solutions:
● List expansion to determine who to target & prioritise
Predictive analytic tools can quickly determine which prospects represent the best fit for your business and help you allocate both marketing spend and your sales teams’ time accordingly.
Through analysis of historic firmographic factors such as company size, location and revenue, predictive algorithms can create target company lists that closely match past converting behaviours to ensure that your marketing budget is funnelled efficiently. As predictive marketing is based on intent, unlike remarketing, it allows you to reach out to prospects you didn’t even know you had.
Overlaying additional signals can help to keenly target prospects further via predictive lead scoring and allow your sales team to prioritise leads at every stage in the sales cycle.
● Personalised content & contact optimisation
As well as determining who to target and when, predictive marketing can tell you the “how.” In a move towards account-based marketing (ABM), predictive marketing tools deliver highly personalised content across channels and devices to optimise interaction.
Think of e-mail recommendations, web pop-ups and personalised calls to action that can be executed in near real-time or customised web views and sales call follow up that are delivered at key junctures. Models examine past behaviours as well as other indicators to predict both messaging and contact channel efficacy.
● Churn prediction
Predictive modelling can identify which prospects are most at risk of unsubscribing or not renewing a contract. More than this, the model can also go one step further and identify which of these “at risk” prospects are most likely to respond to special offer incentives.
The revenue benefits here are clear: acquiring a new customer can cost five times more than retaining an existing one , making it crucial that churn is minimised. Even a small reduction in churn can positively impact both revenue and acquisition costs.
Developing a predictive marketing approach with Think Beyond
What business doesn’t want to supercharge their revenue? But with so many predictive marketing tools and SaaS products available, how does a CEO, MD, Sales or Marketing Director implement a successful predictive marketing approach?
Here at Think Beyond, our CIM qualified consultants have helped senior teams across the UK access the revenue benefits of predictive technologies as part of our marketing strategy service.
Guided by a philosophy of partnership and a firm belief that marketing is a scientific pursuit at heart, Think Beyond’s specialist team can support your business to plan, implement and report on a bespoke predictive marketing solution. From accurate data collection and cleansing to thorough analysis of buyer cycles and software recommendations (such as SalesForce or Everstring), our expert marketers will utilise their deep domain expertise and knowledge of best practice to develop a predictive marketing strategy that works for your business and your bottom line.
Contact the Think Beyond marketing specialists today
Based in Wilmslow and Alderley Edge, Cheshire, Think Beyond has a singular aim: to accelerate your business potential.
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