CRM

  Have you ever done a web search for a new item, for example a toaster, and then notice that you suddenly see ads for toasters everywhere you look? On Facebook, on your favorite news and sports webpages, on Google, etc.? That’s data analytics and hyper-personalized marketing at work. You’d be surprised at how easy it can be to access customer data points that can help you build a picture of who your client is – their hobbies, their shopping habits, their pets, and more. Using this data not only helps you build a better, more accurate customer persona, but it also helps you relate to your customers on a one-on-one basis. Consumers are now used to seeing this kind of marketing, so when they DON’T receive communication from you in a hyper-personalized way, you risk turning them off to your brand and losing a sale. Meanwhile, data-savvy competitors will be there to pick them up where you leave them. Here are the main tenets of running a data-driven marketing program: 1. Segmentation S...

  According to information from Forrester Research Analysts, prescriptive analytics for B2B/B2C companies is overtaking predictive analytics. Data revealed at Forrester’s Virtual Data & Insights Forum, October 13–15, 2020, 93% of firms are operating WITHOUT insights-driven practices. The same research claimed that just 49% of all business decisions are being made based on quantitative information. This presents a problem for a variety of reasons. How can your firm overcome bad decision-making? Predictive analytics provides you with raw data so you can build your own plans and actions, while prescriptive analytics does all of the work for you and provides actionable options. Shifting through the vast quantities of data you have with human analysis is not practical or possible within a reasonable timeframe. But marketing decisions must be informed quickly to enable you to take corrective actions when needed. Prescriptive Analytics gives consistent recommendations on what to do ne...