Talk the Talk with These Predictive Marketing Terms You Need to Know

By April 12, 2016
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Whether or not predictive marketing is on your tech stack wish list for Q2, there are some terms you should know if you want to talk the talk with anyone about what’s hot in the martech space. We put together a glossary of everything you need to know to have a productive conversation about predictive:

Account: A specific company that you are targeting

• Account-Based Marketing: A strategic approach to marketing where you focus on targeting entire accounts vs. individual leads

• Audience Selection: The process of using predictive marketing to target and select the right audience for your product or service

• Conversion: When the recipient of a marketing message performs a desired action

• Customer Data Model: The predictive marketing model that details your ideal customer based on analyzing the data in your marketing automation and CRM platform, combined with external data signals

• Customer Relationship Management (CRM ): Enables the management of business relationships and the data associated with them

• Engagement: Key interactions between a prospect and your company that indicate prospect interest

• Fit: How much a prospect looks like your best customer

• Intent: Key actions across the web that indicate buying intent for both known and unknown accounts

• Lead: An individual contact within an account

• Marketing Automation: Marketing software that enables companies to streamline, automate, and measure marketing tasks and workflows. Marketing automation also tracks buyer behaviors across channels

• Predictive Demand Generation: Using a predictive marketing model to identify the right accounts to target with your marketing efforts

• Predictive Marketing: The practice of extracting information from account datasets—both from your own database and existing external company data aggregated through a predictive solution—to determine patterns and help predict future outcomes and trends

• Predictive Scoring: Predictive scoring applies your predictive model to the accounts and leads already in your database—providing a predictive score that focuses your team on the prospects most likely to convert into customers

• Scoring: The process of ranking an account, lead, or opportunity for a level of interest and sales readiness

• Sales Funnel: The steps a buyer goes through to purchase your product or service—from early awareness, to lead, opportunity, and customer. Most sales funnels will be unique to a company

There you have it! Now you’re ready to talk predictive!

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