Marketing is key in every organization; it’s crucial for the growth of each organization as production without sales doesn’t push the organization any further. Sales enhance the profitability of every organization; thus, an aggressive marketing manager is an important tool to every organization. With the advancement in technology, marketing has taken a whole new level. Content marketing has taken the leading edge in the recent past, but predictive marketing has since emerged and made marketing far much easier than ever before.
This type of marketing entails using the data at hand to predict future sales. With the information, one can make future decisions concerning sales and for the entity’s wellbeing. This is opposed to traditional means where surveys had to be conducted and a lot of information collected from both users of your product and non-users.
With the predictive marketing, however, trends in your business; the past sales, customer behavior, the frequency of purchase, and most preferred products, among other information, stored in the organization’s database is used. The marketers need not interview non-users to have a view of future acceptance, but with whatever they have at hand, the future becomes predictable with the help of the predictive technology.
Types of predictive marketing
Marketing and success of a business are lined on demand and scores of products. Clients will always go for the high scoring products. This sets out two different types of predictive marketing, the predictive demand generation, and predictive load scoring.
The predictive demand generation – it entails studying of customer trends, then using the derived data to predict the future demand for your product. This helps determine the amount of product to release to the market given that it’s so much easy to predict the customer demand and their preferences as well.
Predictive-scoring– on the other hand, this uses the scores of different product in the customer’s list of preferences to gauge the market position of the company’s product against competitors as well as predict future sales, given that customers go for the higher scoring products as opposed to those that have lower scores.
Content marketing and predictive marketing
In as far as the marketing techniques are different, they complement each other. Content marketing educates the clients on different products in the market including benefits they can draw from using the product. This entices them to purchase the products and in many cases even give feedback. From the client’s reviews, other clients get to purchase the product and increase the client’s base. The information acquired from clients is then used to predict the future trends of the client; predictive marketing. Content marketing uses, mediums such as video, info graphics, eBooks, email marketing among others to provide viable information to clients in regards to different products. This has improved the marketing world making it easy to market at whatever digital platform you are at the time. Social media can be used in marketing, emails are also usable, videos, among others, and this is not just passing information but entertaining as well.
The future of predictive marketing
With the advancement in technology, so many activities are applicable from the comfort of your home, marketing your products, not an exception. Data acquired from predictive marketing will go far in enhancing the performance of your products in the market since you well know what to anticipate in the future.
With the adoption of e-commerce, predictive marketing will go far in boosting the performance of a company and reducing the work done by sales persons. This will enhance savings on money invested in other forms of marketing and investing it in other areas of business hence improving the productivity of an organization.
Importance of marketing
- Marketing exposes an entity’s products to the entire world. This gives the organization more exposure as more and more clients get to purchase the products.
- Through marketing, you can determine the position of your company about competitors as you get to know the preferences of different clients. With the information, more strategies of importance to the organization are formulated and implemented.
- Different customers get to know more about the products; they are provided with a greater platform to choose, and gauge products hence make the choice of the best product to purchase.
Predictive marketing had a revolution and changed the perspective of marketing. It’s applicable in any business, more so those that keep records of their business undertaking and customer trends. It has proved effective with different companies, after 36 months, predictive intelligence influenced 34.71% of brands’ total orders. How much more can it bring to your company with the most advanced system and precise mechanism?