Predictive analytics isn’t just for statisticians. Marketers can decode the cost-cutting properties of the analysis method to create more efficient marketing strategy. Assigning scores to customers according to their propensity towards certain behaviors is nothing new, but linking that behavior to specific marketing strategy decisions is an often forgotten method for conserving a marketing budget.
- Use churn modeling to identify loyal brand followers: Don’t waste retention efforts and resources on loyal brand followers when those resources would be better spent on neglected audience segments.
- Use uplift response modeling to identify consumers in frequent contact with the brand: Don’t waste efforts contacting consumers whom are already frequently engaged.
- Use response modeling to identify consumers that are dead-end clients: Don’t mount elaborate campaigns to win over consumer segments that attach high-negatives to your brand, if their numbers are relatively insignificant.
Common-sense rules apply when acting on insights; data from multiple sources always requires context as well as a logical connection between performance goals and the constant flow of real-time data. Learn more about predictive analytics here
-
‘Not the future’: European publishers remain steadfast in blocking alternative IDs to third-party cookies
Some European publishers believe alternatives to the third-party cookies, probabilistic or deterministic, will do more harm than good to their ads businesses.
-
Media Briefing: Why Leaf Group spun off its media arm into a standalone company
World of Good's newly appointed CEO Lindsey Abramo spoke with Digiday about her plans to lean into experiential and embrace niche vs. scale.
-
Dentsu’s latest ad report shows slowed growth, driven mostly by inflation
The good news in Dentsu's ad forecast is that there's still growth. The bad news: most of the growth is the result of inflation, while real ad pricing actually dropped a bit.
-
SponsoredWhat the measurement and currency discussion really means to TV advertisers
Ali Mack, head of TV and agency, Experian Major streaming video providers have recently made headlines by adopting new currencies for ad measurement, threatening Nielsen’s long-standing TV ratings monopoly. NBCUniversal, for example, has certified iSpot and VideoAmp as currencies for advanced audiences and formed the Joint Industry Committee with Paramount, TelevisaUnivision and Warner Bros. Discovery. […]
-
How chef influencer Tue Nguyen works with the BuzzFeed Creator Network
BuzzFeed's Creator Network has been valuable from an audience and production education standpoint, but Nguyen still drives most of her business on her own.
-
Dentsu’s new Web3 readiness tool shines light on the tech’s potential to complement AI
Dentsu's Innovation Initiative is launching a web3 readiness index next month — at a time when the industry is obsessed with AI. Could the two technologies actually make a good pair?
