Post by account_disabled on Feb 18, 2024 1:19:03 GMT -5
Using predictive analytics tools allows marketers to use data from past campaigns to reliably predict likely consumer trends and behaviors days, weeks, or even years into the future. Predictive models can help companies attract, retain and nurture their most valued customers. Additionally, marketing campaigns can be optimized using predictive analytics to generate more leads and conversions, as well as promote cross-sell opportunities.
Predictive analytics is undoubtedly effective and is used by numerous organizations. The global market is expected to reach approximately $10.95 billion by 2022. Source: Mobile Phone Number community.com/business-intelligence/use-predictive-analytics-01034570 Netflix and Amazon have pioneered predictive analytics and implemented it into their respective businesses to provide customers using their previous behavior, consumption and purchasing behavior patterns.
Now, consumers on these platforms enjoy and expect this level of personalization. While Netflix and Amazon are huge B2C players, it's important to remember that B2B buyers are also consumers, and their purchasing behavior reflects that of consumer purchasing behavior. Therefore, marketing strategies that incorporate predictive analytics should not be ignored by B2B companies in 2021.