Predictive Marketing

 

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The wellness consumer today demands a marketing approach that is personal, integrated, relevant, and meaningful.

In a specialized, highly competitive market such as ours, it is imperative to communicate and connect with health-conscious consumers in a very precise and careful way to effectively develop relationships.

To help you meet this demand, we use powerful predictive marketing tools to determine which marketing strategies and efforts have the highest probability of succeeding.

Our Process

The process begins with gaining more information about your existing customers. Our experienced analysts will work with you to develop a central database that aggregates your customer data from various data sources and links it together into individual customer profiles.

This involves integrating data sources such as list aggregators, transaction data, loyalty data, social media data, survey data and an assortment of other data (that is connected to your business).

Your customer data is then organized across all customer touchpoints, including web, transactions, mobile, email, store, and call center before it is cleaned, prepared, and turned into information that our predictive models can digest.

Various predictive and segmentation techniques such as linear and logistic regression, cluster analysis, factor analysis (including principal components), and market basket techniques are then applied to identify patterns that predict future outcomes and trends about how your customers will make purchases, when they will make purchases, and how much they will spend based on their previous behaviors.

Pinpoint those individuals who are the right target!

We empower you with deep insights that allow you to execute a series of personalized, triggered campaigns. No more “batch and blast” campaigns where all of your customers receive the same message at the same time. Precisely targeted campaigns can increase prospect conversion and customer engagement by taking into account the customer’s preferences, interests, and propensities to buy.

Examples of predictive marketing

Who will be my best customers?

Predict which prospects or customers have the highest lifetime value. Use this information to spend time and money on high-potential customers only.

How do I find new customers like my existing best customers?

Predict which prospects are most like your existing high-value customers using look-alike targeting.

How do I uncover buyer personas from my data?

Predict customer clusters that better define buyer personas with respect to propensity for brands, products, or content.

Which marketing channels are most profitable?

Predict which channels attract the customers with the highest lifetime value. This information can be used to develop a bidding strategy and to allocate your budget across channels.

Which prospects are most likely to buy?

Determine who is most likely to buy so you can give the right buying incentives, at the right time.

Which existing customers (or past) customers are likely to buy?

Predict when an incentive to buy (such as, a discount) is necessary to persuade a one-time customer to become a repeat customer.

Which of my existing customers are least likely to buy?

Predict which customers are likely to leave and target them proactively with a “please come back” incentive, a personalized recommendation, or call.

Which customers might be interested in a specific new product?

Predict which customers might be interested in overstock items or a new product release so you can focus your sales and marketing efforts on these customers.

What other products or content might a particular customer be interested in?

Predict what product or content recommendations to make to a particular customer in order to win, upsell, or reengage this customer.

What is my share of wallet with a specific customer?

Predict in what markets or customer groups you have high value potential to focus future customer acquisition strategies.

Advantages of Predictive Marketing

  • Increase revenue
  • Optimize prices
  • Improve the return on your marketing costs
  • Better utilization of your marketing budget
  • Gain more sophisticated segmentation of data
  • Predict what customers will buy
  • Identify customer needs
  • Improve precision of targeting and acquisition efforts
  • Use personalized experiences to increase lifetime value
  • Identify campaigns and actions that are better targeted to customers
  • Find upselling opportunities
  • Determine long-term profitability
  • Be prepared for shifts in the wellness market
  • Optimize customer engagement
  • Understand customer retention and loyalty

Improve your marketing efforts!