Using marketing and advertising dollars to target the general market is not a wise use of funding. Every business today is challenged to do more with less and marketing budgets are no exception. In order to reach the right target and convert prospects into sales, a business must create and distribute messaging to the right target audience, in the right way, at the right tie.
Without a fundamental understanding of how a customer makes a buying decision and how customers choose a product or service, the marketing and advertising process is based only on guesswork, and that guesswork is bound to result in lost revenue and poor optimization of the marketing budget.
Augmented analytics supports the identification of a target audience and identifies buying behaviors. It helps the business to determine what type of marketing and marketing channels will be the most effective to reach the target customer. This insight allows the business to customize targets for a region or market and identify appropriate messaging and marketing vehicles for seasonality and other factors.
Predictive analytics can help a business develop a profile for a target customer and segment, combine external and internal data like macroeconomics and competitive data, and define marketing and advertising messages and techniques for each segment to optimize the marketing budget and improve the competitive advantage.
Use Assisted Predictive Modeling and Predictive Analytics to gain critical insight into target customers and define the marketing and channels best suited for those targets.
Learn More: Marketing Optimization
View the Marketing Optimization Use Case Slide Share
We invite you to explore other use cases and discover how predictive analytics, and assisted predictive modeling can help your business to achieve its goals.
- Customer Churn
- Fraud Mitigation
- Quality Control
- Demand Planning
- Product and Service Cross-Sell and Upsell
- Maintenance Management
- Customer Targeting
- Human Resource Attrition
- Loan Approval
- Predictive Analytics Using External Data
- Online Target Marketing
- Students’ Academic Performance
- Crime Type Prediction
Learn more about Augmented Analytics, its uses, techniques and applications.
Contact Us today to discover the benefits of predictive analytics and marketing optimization.
Original Post: Predictive Analytics Use Case: Marketing Optimization!