Many well-known brands such as Target, Amazon and Netflix use predictive analytics to offer their users a unique and personalized experience both in their digital spaces and through their printed pieces. While big-name brands are using predictive analytics, small and medium sized businesses can use predictive analytics as well. For your Friday we’re going to discuss a few of the benefits of using predictive analytics to boost your marketing campaigns.
Predictive analytics will increase your customers’ engagement with your brand. By sending relevant messages, you target audience is more likely to not only take the time to listen or read what you have to say, but they are also more likely to respond to your call to action because you are sending them messages that relate to their personal buying preferences.
Using predictive analytics you are able to reduce your overall marketing costs. By understanding your target audience and segmenting your target market into smaller, more manageable groups with similar interests and buying habits, you can reduce the number of messages sent out by your brand. Furthermore, by understanding when and what your customer is most likely interested in buying, you can send personalized messages rather than sending an abundance of generic messages to everyone in your database.
Finally, predictive analytics can help you create relevant offers for your target audience. By collecting and storing the purchase history of your target market you’re able to create relevant promotions based upon what people buy and how often they make purchases. Furthermore, predictive analytics can identify which promotions worked and which promotions were not as popular.
Print & Graphic Communications Association