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Predictive analytics has been around for a while, as has machine learning, but it's only now with the profusion of cloud-based software in marketing that this form of data analysis has started to take off.
AgilOne is a US company, launched 2012, now branching into the UK, that provides predictive analytics software. I spoke to CMO Dominique Levin to find out more about this technology.
Is it powerful enough to make one-to-one marketing a possibility and not a fallacy?
Last week I moderated the roundtables at our Digital Cream London event on personalisation and I wanted to share some of the themes and takeaways from these sessions.
Personalisation is certainly on the radar. It was named this year’s top digital priority by B2C marketers in our Quarterly Digital Intelligence Briefing published in January.
But this is a nut we have not yet cracked. Whilst it’s an exciting opportunity, it is also a long-term priority.
Marketers expect personalisation to be the third most exciting opportunity in five years time (after customer experience and multichannel campaign management).
We are all sharing more data than ever before with other organisations in our emerging Big Data Society. Sharing lets us use our resources much more precisely and produce completely new services.
But misusing customer data risks destroying customer trust. Still, we all need that missing piece of the Big Data puzzle, so we all need to share more.
Segmentation is one of the key weapons of the success marketer.
It's allowed them to get the right messages and products to the right people. It's a core part of the marketer’s tool kit.
So what can marketers learn from segmenting their social audiences?
When it comes to ecommerce engagement, a brand’s ability to connect with customers meaningfully is only as good as its segmentation strategy.
Consider an online apparel shop that wants to microsegment its customers based on ZIP code. This could come close to treating each and every customer as a separate segment, a one-to-one marketing strategy that's very difficult to scale.
It’s “divide and conquer” when it comes to email lists. Your analytics team is charged with putting your customers into their respective buckets.
Then it’s the job of the marketing and creative teams to come up with relevant messaging targeted to each segment.
Marketers are familiar with the traditional types of segmentation, such as gender, age, location and engagement.
These types of segmentation pay (literally), however, it can be even more rewarding to dig a little deeper into your list and find the correct segmentation for the job.
Following are five less-common methods of segmenting your list.
It's a well-known fact that relevance is one of the points to focus on when sending promotional email messages to your customers. Data is relevance!
The data you gather from your customers and store into your central database provides you with tools to create relevant and timely messages.
By segmenting your marketing database into relevant target groups, you are on your way to get the most out of your customer data.
We live in an age of Big Data and more and more companies in a wide range of industries are making it a point to collect as much data as they can about markets, transactions, their website's users and customers.
When it comes to customer data, retailers are a blessed bunch because they have greater opportunities than many to collect this type of data.
Most companies involved in lead generation spend a considerable amount of time thinking about, well, lead generation, with an emphasis on generation.
Unfortunately, the truth of the matter is that far more organizations have mastered the art of generating leads than have mastered the science of converting leads into sales.
Mailrooms are quickly becoming anachronistic features of corporate offices, but in their prime, they featured postage meters and beeping, blinking copy and fax machines bearing the Pitney Bowes logo. The company did very, very well.
But as physical communication methods became more digital, Pitney Bowes’ profits fell. Between 2008 and 2011, revenues slipped to $5.3 billion, a billion-dollar drop as US and European economies, its key markets, softened.
Competitors like Kodak went bust and Xerox nearly filed Chapter 11, but Pitney Bowes sought to evolve with the times by adding a robust suite of digital marketing products for B2B clientele intent on reaching audiences through email, social, and mobile channels.
Since the rise of social media, companies have been implored to 'listen' to their customers. If you listen, they are told, good things will happen.
The truth, of course, is that most businesses have never been completely deaf to their customers.
Social media has simply created new ways to listen.
In 2011, marketers began saying that "content marketing is more important than advertising" and given the growth of content marketing in 2012, it would appear that they meant what they said.
And not just in the consumer space. Although selling content marketing to leadership has been a challenge for some B2B marketers, the use of content marketing at B2B organizations is growing rapidly.