To stay competitive, brands must take an analytical and predictive approach to better anticipate consumer behavior on an individual basis. Predictive analytics helps marketers to be dynamic and relevant by giving them the knowledge to present the right offer at the right time via the right channel, all based on what will best motivate the consumer to act. This allows companies to capture the attention of the audience quicker and reduce the total cost per acquisition. The predictive approach can be broken down into three parts that can work together to manage a fully engaged experience:
Demand creation stimulates a lead to take action by leveraging predictive algorithms that customize key marketing elements, such as Web content, resulting in dramatic conversion lifts and an optimized cost per sale.Demand activation appends CRM data and publicly available data to predict a lead's likelihood to purchase, down to the preferred price and product type. Leads are scored and prioritized to convert high-value prospects quicker.Demand conversion removes the guesswork of contacting leads by determining the best dialing strategy. Conversion-based routing and predictive analytics predict the right message, product, incentive, and channel to effectively convert a lead through the call center.