Predictive Analytics: Understanding Customers and Boosting Business

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As buyer behavior is in a constant state of flux, understanding customers can feel as overwhelming as understanding the opposite sex.  While there is no “Businesses Are From Mars, Customers Are From Venus” book to simplify everything, there are some secret weapons that every business can use to gain insight into customer actions.  Predictive analytics and marketing automation are vital tools that can give any company a competitive edge.

Businesses using old marketing strategies waste a lot of time and resources emailing, calling, and direct-mailing all potential consumers, while the majority of them are not ready to buy.  Savvy businesses can take the guesswork out of marketing and sales strategies, by anticipating customers’ needs.  They then target only the customers who are ready to buy, so that their resources are going towards higher-quality leads, and thus, more closed sales.  For a look at the data behind these tools, Lattice Engines has put together an infographic that highlights the value of predictive analytics and marketing automation:

Predictive Analytics: Understanding Customers and Boosting Business image Lattice Customer ESP predictive marketing

Let us know how you use these tools currently, in the comments section.


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