In a world where marketing departments must constantly justify their existence and measure their results, being able to predict the success of a campaign seems to be fictional. And yet, predictive analysis aided by artificial intelligence (AI) is a growing trend in marketing.
In a longer B2B cycle that requires numerous interventions and concerted efforts from several departments, the value of AI in predictive analysis is tenfold.
Imagine if, even before a prospect enters your sales funnel, you could accurately assess the odds of entering into an agreement with them. And even get an overview of the factors and conditions that promote your chances of success. You would then be able to qualify leads quickly and devote your efforts to putting into place all the elements necessary to conclude a sale with those who have the most potential.
Then imagine that all this is done in an automated way and in real time. This is the promise of artificial intelligence, applied to marketing.
What is Predictive Analysis ?
Predictive analysis is based on data, machine learning and on your business intelligence in order to analyze past events and, above all, to anticipate future events.
In marketing more specifically, predictive analysis allows you to exploit your data in order to better guide your efforts and define your expectations. You will be able to know if your goals are realistic and by what means you can reach them.
All this is already ancient history for some companies that have gambled early on in new technologies.
However, the arrival of the AI completely disrupts the development of our marketing strategies and multiplies the potential of predictive analysis. AI allows you to act quickly, upstream at the right time or even, in a premonitory way.
These promises are already a reality. AI-based tools and applications, that are currently deployed in business, such as IBM’s famous Watson for example, allows us to go far beyond what was possible before.
And that is why we insist on the importance of achieving its digital transformation.
With these tools, it is now possible to target the right audience before you even start your marketing efforts. Therefore, only the most likely to convert will be part of the audience you will be targeting. Whether it’s about the purchasing habits of your potential customers or correlations between their interests and services, AI will allow you to scrutinize your data in depth and find links that otherwise would have gone under the radar. You will have a better understanding of the humans that make up your market. Your sales cycle will be accelerated by selecting well-qualified leads.
In addition, it is possible to identify exactly when the prospects encounter difficulties in their purchase path, then fix it in order to increase your conversion rate. Your website, for example, could adapt in real time to each visitor to simplify their search for information. A chatbot could automatically intervene to initiate dialogue as well.
AI enhances the user experience and offers a personalized service to your customers and prospects. Ultimately, that is what you want to offer them. You are dealing with people, not robots.
As for your company, AI allows you to take action on the basis of concrete data rather than your intuition. So, it makes your efforts more efficient, it helps your marketing efforts perform better and, it allows you to close the sales cycle faster.
Lets’s Talk ROI
Of course, it requires your company to invest in digital transformation. Your processes, your ways of doing things and even your business model will be called to change. You will need to adapt your company’s culture to this new reality.
And it will be for the better.
The days where the marketing department struggled to justify its activities and get a budget, are over. We can also put behind us the manual analysis of collected statistics and reacting a month later to the results of your marketing campaigns.
AI makes it all possible in real time and in an automated way.
Your strategies and tactics will be constantly analyzed and optimized. You’ll spend less time analyzing and more time understanding. You will stop putting efforts “in the air” and you will get results that help your business grow.
Artificial intelligence is not a buzzword – it is very real.
Let is help you initiate your digital transformation!