Email and social media are like two peas in a pod. They complement each other’s efforts to drive sales for the company. Each effective on their own, the sum of their parts exceeds the whole. Email marketing is one of the most widely used tools of e-commerce and is the basis of one-on-one interactions with customers. Whether plain vanilla or highly analytical techniques, email marketing has become a huge element of any social media marketing campaign.
According to some surveys, 68% of marketers say that emails are an indispensable part of their business and marketing strategy. Also, a customer receives an average of 83 promotional emails everyday. When there are so many emails going around, there is a need to step up one’s offering. After all, the decision of ‘keep or delete’ is a vital one. Predictive intelligence can prove to be an effective strategy in such a scenario.
So what is predictive intelligence? It is the ability to predict the right message, channel and timing for each customer experience. The ability to collect real-time data about the customer’s choices, purchase behavior, lifestyle and to use this data to increase the rate of conversion is predictive intelligence.
Let’s take a look at some of the techniques that need to be applied to get the best results from predictive intelligence analytics:
Single View Of The Customer
If personalized email messaging is a basic requirement now as generic ‘push’ emails will just not work, data has a pivotal role to play. Having said that, if data is available in bits and pieces across time, it does not help. A single view of the customer’s preferences in terms of behavior, choices, lifestyles and other customer relationship management data is required to make predictive intelligence work. Based on such an integrated view, the actionable outline becomes more accurate and specific.
Alter The Traditional Mass Email Method
Using predictive intelligence for email marketing involves reacting real-time to certain cues that you may receive from the customer. Whenever the customer reaches a crucial instant while browsing on a site or app, you could send a targeted email then. Let’s consider an example: a customer seems to be looking for a certain genre of books and also adds some recent releases to his cart. He then abandons the cart suddenly. You can send him an email with some other options in the genre and details about a particular book when it’s back in stock. Such customized inputs is what customers are looking for. It’s noteworthy that predictive intelligence works at various stages. You could be driving sales, engagement or customer relations.
Observe What Customers Do On Your Website
Customers are well informed and like to research well before buying a product or service. Marketers have to therefore step up their act if they want to make an impression. Just email analytics will not suffice the need for predictive intelligence to produce stupendous results. Observing what a customer does on your website will provide a deep insight into their buying behavior. It will help answer certain questions around the reasons for buying; the frequency of buying and the method of buying.
Streamline Your Marketing Budget
Once you have determined the method through which your customers buy their products, you can channelize your marketing budget for a higher return on investment. You will become better at choosing the appropriate events to participate in, and how to use external services to improve the outcome of direct email campaigns. You may even end up experiencing a cost reduction in the overall campaign.
Activate Customers & Optimize Inventory
As a marketer, there may be numerous seasons where you are left with excess stocks or stocks with a limited shelf life. Here, predictive intelligence can play a vital role. By creating a segment of customers who have been dormant and by analyzing their buying trends, some of this stock could be pushed to them with heavy discounts, creating a win-win situation. With data available, strategic innovations are left to you. Remember, the cost of acquiring a new customer is much higher than offering a promotional incentive to an existing one. Use carrots like a promo code or discount coupon to wake them up from their buying slumber.
Business analytics and social media marketing analytics have great demand for individuals with skills in predictive analytics. If you enjoy big data, data science, coding, statistics and math, this field could be an apt career choice for you. Some of the job roles that are heard of these days include Cyber Predictive Intelligence Analysts and Predictive Modelers.
Every customer interaction in today’s world matters and impacts your brand in some little way. It can impact bottom line and teaches you something about the customer to predict his/her next move. For predictive intelligence analytics to be successful, you need to ensure that you have a goal in mind. With so much data at your disposal, shooting around in the dark can prove to be quite effortless.
Powered by Ivyclique
Got a question for us? Please mention it in the comments section and we will get back to you.