How to Get Real ROI from Predictive Marketing and Sales
Predictive marketing and selling can provide an enormous upside for enterprises. By supplying insights into customer and prospect buying patterns and signals it enables companies to organize go-to-market priorities, align marketing campaigns to the needs of most attractive prospects, and align sales reps to high-likelihood high-value customers and prospects.
As a result, enterprises that have successfully deployed predictive marketing and sales solutions were able to achieve a sustainable >15:1 annual return on investment on their programs driven by revenue lift, competitive wins, increased customer lifetime value, category expansions, and improved retention rates. The magnitude of the impact grows with the size of company’s customer and prospect base and product portfolio as predictive solutions help marketing and sales reps navigate the complexity and dynamically identify and capture growth opportunities.
In other words, predictive solutions help simplify sales and marketing, in a smart way.
Lattice’s work with leading enterprises across several industries shows that, like with any other high impact initiative, realizing the full potential of a predictive program requires thoughtful preparation and effective change management.
Our latest whitepaper, Journey to ROI from Predictive Marketing and Selling, features best practices based on our customers’ success to help you tackle change management within your organization.
Beyond the basic change management roadblocks that often need to be overcome, such as lack of overall vision and alignment, resistance to change, competing priorities and insufficient resources, there are plenty of other mistakes, specific to the predictive domain, that enterprises might make when designing predictive recommendations and distributing them to their sales and marketing teams.
We discussed this topic with our large enterprise customers and asked what makes a predictive program a success. The output is four areas in which focused and coordinated predictive program management can lead to realization of substantial value for enterprises in the form of increased revenues and margins.
- Getting buy-in into predictive programs
- Designing a portfolio of predictive campaigns
- Driving adoption and thorough execution of predictive campaigns
- Evaluating predictive campaigns and measuring impact from the program
Read more in our latest whitepaper, Journey to ROI from Predictive Marketing and Selling.