Using Predictive Analytics to Optimize Strategy

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.

Optimizing advertising spending means creating not only a roster of rational key performance indicators (KPIs) but also a framework of spending guidelines which fine-tune consumer targeting practices and minimize resource waste.
That requires a value-focused strategy which eliminates “shotgun” marketing tactics and focuses on actionable insights and quantifiable results.
Here are 3 maxims for making the most of that fancy predictive analytics suite.

 

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

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