Predictive Marketing Tech Talk: The End of Going With Your Gut
Predictive analytics is all around us. With the influx of data coming from the Web, social and other sources, many companies are harnessing the power to make more informed decisions. More and more, we hear about how predictive analytics is helping industries from healthcare to telecomm to fraud detection to transportation and logistics to extract insights.
The same principles of a cable company using analytics to determine which customers are likely to churn can be applied to B2B sales and marketing teams to uncover which prospects are most likely to buy and which customers have the greatest revenue opportunities.
And that is what our CMO Brian Kardon recently caught up about with Glenn Gow, president of Crimson Marketing. Brian discussed how early adopters and sophisticated marketers are using predictive marketing to take their efforts to the next level.
Traditionally, marketers have built their lead scoring models on guesses. It goes something like this:
Someone attends a webinar. Assign them 20 points.
They visit the career page; subtract 8 points.
Someone visits the pricing page; call them immediately.
Instead predictive marketing focuses on using all of the available data to remove the need for gut-feel and rely on data science to uncover who is the most likely to buy.
You can listen to the podcast in full, including examples and case studies, from Crimson Marketing.
Image Credit(s): Hartwig