In 2015, predictive marketing was one of the most talked about new technologies available to marketers, and in 2016, we believe that the adoption of predictive marketing will enter the mainstream. We are already seeing so many companies adopt the technology, and with really incredible results.
Your data doesn’t lie! And understanding it on a much deeper level enables marketing organizations to be much more successful.
To get some additional insight into how predictive marketing affects organizations, EverString commissioned Forrester Consulting to survey B2B marketers and create a study, How Predictive Marketing Analytics Boosts B2B Business Performance, to shed some light on this topic.
Forrester developed a hypothesis “to test the assertion that predictive marketing analytics enables B2B marketers to be significantly more effective in identifying and engaging buyers in specific accounts across the buyer’s lifetime”. Let’s take a look at what Forrester found out. And, to read the more in depth analysis be sure to download the full study.
Predictive Marketing Analytics Usage Correlates with Better Business Results and Metrics
The key question that we wanted to answer with this research was, “does the use of predictive marketing improve business results?” and we also wanted to know by how much. The Forrester survey revealed that mature, top performing companies are not only more likely to use predictive marketing, but they are also much more likely to see gains. In fact, those that use predictive marketing are 2.9x more likely to report revenue growth at rates higher than the industry average; 2.1x more likely to be an industry leader in the product/service markets they serve, and 1.8x more likely to consistently exceed goals.
Take a look at this chart for more details. Note that the term “predictive marketers” is used to describe those that use predictive marketing and “retrospective marketers” is used to describe those that do not use predictive marketing.
Predictive Marketing Helps B2B Marketers Play a Superior Role in Their Firms
Every marketer wants to excel at his job. And, every marketer wants to see his entire marketing organization recognized as a critical function within the organization. To do so, marketers need tools in order to be successful in today’s fast paced buying landscape. According to the survey, 49% of respondents reported that they currently use a predictive platform and 40% plan to implement it in the next 12 months.
Why the growing adoption rates? Predictive marketing enables marketers to grow pipeline, increase conversion rates, and engage their buyers in a much more focused way.
Predictive Marketers use Advanced Strategies to Deliver Greater Impact Across the Customer Lifecycle
Understanding your buyers and their journey is critical for today’s modern marketer. You need to have an understanding of who your buyers are, what they like, and what messages resonate. But that is hard to do if you don’t have access to data. According to Forrester, “predictive marketers leverage data and insight to better target prospects with the greatest probability and to anticipate the outcome of their programs better”.
In fact, those that use predictive marketing report that the technology has a very high impact on many areas of customer lifecycle marketing. For instance, 55% of predictive marketing users believe that predictive marketing can improve customer engagement, 50% believe that it can identify high potential lifetime value of customers, and more. Take a look at this chart to get more detail.
Predictive marketing is rapidly taking hold throughout marketing organizations all over the country. And, now that the technology is more mature, marketers are seeing real, actionable results. To learn more about predictive marketing adoption, download the full study, How Predictive Marketing Analytics Boosts B2B Business Performance.