Predictive marketing separates the wheat from the chaff
The growing appeal of predictive marketing among B2B marketers is in part due to its accuracy and insights into data and customer decision making that is saving marketers valuable time. Rather than chasing down contacts or leads that will not bear fruit, “Predictive technology learns from data to render predictions for each individual in order to drive decisions,” said Dr. Eric Siegel, founder of Predictive Analytics World and author of “Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, Or Die,” in an earlier report.
The appeal of predictive marketing is that analytics allow marketers to target prospects with a high likelihood to convert and increase conversions as opposed to expending time and resources on the wrong prospect.
One of the great strengths of predictive marketing is that it empowers marketers with the knowledge of data scientists and weeds out leads that probably won't close. Predictive marketing also increases efficiencies for business while also enabling marketers to work more efficiently with sales departments.
"Predictive marketing is quickly becoming a key component of the B2B marketer’s playbook, especially at the enterprise level,” said Kerry Cunningham, reaearch director at SiriusDecisions. “Predictive solutions help B2B marketers operationalise their ABM efforts and as a result, create a strong process for delivering leads to sales in a way they can effectively act on and demonstrate results. In our experience, strong alignment between sales and marketing has been shown to drive increased revenue growth.”
With account-based marketing (ABM) gaining rapid adoption in B2B marketing, one of the initial challenges that B2B marketers face when implementing an ABM program is building target account lists. Companies like Radius have developed technology to enable marketers to apply data science as a way to identify and prioritize target accounts and unify strategic and tactical interactions. Further, improved automation means that marketers can activate extremely targeted campaigns to support specific ABM tactics.
Until recently, enterprise and small and medium sized businesses had access to these tools but not the reach is expanding to serve the larger B2B community. The software company Radius announced it has developed a predictive marketing solution to serve a larger market encompassing B2B enterprise marketers which will enable them in turn market to other enterprises.
“Building an effective predictive marketing platform for small and medium sized businesses to target is incredibly difficult: it’s a very broad, diverse and fragmented market that is ever changing,” said Darian Shirazi, CEO of Radius who two years ago began serving SMBs and will now reach out to other enterprises. "We took our success, expertise and experience and now have expanded upmarket, making the best predictive marketing solution available to all B2B marketers.”
By combining the most accurate customer and prospect data with strong, predictive insights and the ability to take action all in a single view, B2B predictive marketers are increasingly more adept at leveraging data to drive revenue.