Public Relations & Social Marketing Insight
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Public Relations & Social Marketing Insight
Social marketing, PR insight & thought leadership - from The PR Coach
Curated by Jeff Domansky
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The Future of Marketing Is Here: Predictive Intelligence

The Future of Marketing Is Here: Predictive Intelligence | Public Relations & Social Marketing Insight | Scoop.it

Predictive intelligence might sound like a futuristic tool that belongs in a science fiction film. But today’s marketers are using the technology to deliver what their customers want before they even know they want it.


Predictive intelligence tools are helping companies like furniture retailer Room & Board improve their bottom line and reach customers more effectively. They implemented Salesforce’s Marketing Cloud technology that analyzed customer traffic data and predictive analytics to suggest additional purchases to customers in real time. The result was an incredible 2900% ROI.


Granted, not many businesses will enjoy the same success as Room & Board. But the technology has evolved so much to the point that marketers can’t ignore some new revelations — like a system that offers recommendations based on customer traffic patterns.


Providing customers with a personalized experience continues to prove a positive ROI. If you’re unfamiliar with the concept, you should know what predictive intelligence is and what tools are available....

Jeff Domansky's insight:

Learn how predictive intelligence technology can help you target customers more efficiently and increase your company's ROI.

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What can predictive analytics REALLY do? Three case studies in seeing the future

What can predictive analytics REALLY do? Three case studies in seeing the future | Public Relations & Social Marketing Insight | Scoop.it

If you’re already using predictive analytics within your organization, then you know just how impactful they can be, and you’re likely on the lookout for new and different applications to drive your business even further.


And if you’ve ever been intrigued by the notion of using predictive analytics but thought you weren’t big enough, sophisticated enough, or just plain not ready for it, then keep reading: odds are pretty good these days that the benefits of predictive analytics are within your reach.


In this article, I’ll share three cases outlining ways to use your data to predict value and take your marketing initiatives to another level....

Jeff Domansky's insight:

Can you use data to predict the future? Columnist David Booth shows how predictive analytics can be used to take your marketing initiatives to another level.

Analytics's curator insight, April 1, 2016 3:15 AM

If you’re already using predictive analytics within your organization, then you know just how impactful they can be, and you’re likely on the lookout for new and different applications to drive your business even further. And if you’ve ever been intrigued by the notion of using predictive analytics but thought you weren’t big enough, sophisticated enough, or just plain not ready for it, then keep reading: odds are pretty good these days that the benefits of predictive analytics are within your reach. In this article, I’ll share three cases outlining ways to use your data to predict value and take your marketing initiatives to another level....

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Predictive Analytics Is Paying Off for Marketers

Predictive Analytics Is Paying Off for Marketers | Public Relations & Social Marketing Insight | Scoop.it

Seemingly overnight, predictive analytics has moved from the province of statisticians into the conversations of marketing departments everywhere. And while new to the marketer's toolbox, a report from Forbes Insights indicates that the technology can produce significant results within a handful of years.


The survey of 308 CMOs and business unit directors, which was sponsored by Lattice Engine, found that nearly half of those organizations deemed “highly advanced” in their usage of predictive analytics credit the technology with increasing ROI by more than 25%. Marketers from these organizations, which made up 13% of the surveyed group, have worked with predictive techniques for at least five years and describe them as core functions within all of their marketing initiatives.


Some of the areas in which predictive analytics have paid off most, say these experienced practitioners, are preventing early attrition cost of customer acquisitions, digital promotions offered to specific target groups, lead scoring, and customer propensity to buy a specific product....

Jeff Domansky's insight:

Those who have been using the technology for up to five years report 25 increases in ROI. A powerful reason to explore this tool.

dyneinvarlot's comment, November 12, 2015 11:36 PM
good
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72% of Marketers Say Data Analysis More Important Than Social Media Skills

72% of Marketers Say Data Analysis More Important Than Social Media Skills | Public Relations & Social Marketing Insight | Scoop.it

A new report by ad-tech provider Blue Venn finds that 72% of marketers consider data analysis more important than social media skills. The report, "Customer Data: The Monster Under the Bed?,” incorporates research from 200 U.S. and U.K. marketers, with the goal of identifying the attributes most needed to compete in the data-centric marketing landscape.


Key findings include:


--Data management is now considered more vital than social media (65%), Web development (31%), graphic design (23%), and search engine optimization (13%).


--However, 27% of marketers are still handing over the process of data analysis to IT departments....

Jeff Domansky's insight:

Data analysis skill ranks high with marketing pros.

John Tiller's comment, January 11, 2017 1:55 AM
Nice Post ! https://www.ecommerceonestop.com/
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The Predictive Analytics Playbook

The Predictive Analytics Playbook | Public Relations & Social Marketing Insight | Scoop.it

Making the most out of data means pulling the right insights and then using that info to figure out what's working—and what's not. “Knowing what is working makes all of the difference,” says Michael Schultz, VP of marketing and business development for marketing platform ClearSlide.


“Far too often marketers are in constant production mode. So rather than analyzing the data and seeing what sticks and why, you get anecdotal feedback about what's supposedly working. So being able to apply analytics—particularly predicative analytics—enables marketers to really zero in on what's really going to matter.”


Predictive analytics, Schultz says, allows marketers to “have a sort of game plan.” He says that crafting content or an entire strategy that's rooted in predictive analytics allows marketers to devise the right plays for success. In fact, Schultz says that looking at customers' past behaviors is like watching the playback films and then analyzing them so that you can create a strategy to win the game.


“Based on a bunch of different factors, [marketers] can recommend plays that guide customers in the order that they would like for them to go follow. It's very prescriptive,” he says....

Jeff Domansky's insight:

One data insider shows how to develop a marketing game plan rooted in analytics.

Rory Starks's curator insight, November 6, 2015 5:18 PM

Terrific article with insight about the importance of predictive analytics.  We have developed an impressive predictive modeling tool called the Masterworks Response Index (MRI).  Clients are seeing 15-20% improvements in net income as a result of using this tool.