- Posted October 1, 2015 by
Defining the Predictive Marketing Generation
Many think of marketers as hippyish artists who talk about their feelings, walk around barefoot, and draw pretty pictures. In 2015, this couldn’t be further from the truth. Today, successful marketers must be particularly analytical in order to keep up with the big data boom. Because of increased technology, marketers are starting to measure results obsessively. With this data comes a certain level of productivity – making predictive intelligence an absolute must.
“Predictive marketing” has become a buzzword that seems to litter every business news platform, but very few people outside of the big data industry actually know what it means.
Here are the Cliff Notes:
If you’re an enterprise looking to expand or launch into a new market, data is your best friend. You have to know the profile of your ideal buyer, which prospects are most likely to buy, and which messages will get their attention. Predictive marketing is like radar for marketing. It’s a system that uses data and science to forecast or predict what’s coming in your market – helping you determine the actions in marketing that are most likely to succeed.
“Think about marketing like a factory,” suggests John Bara, President and CMO of Mintigo. “Right now, many B2B marketers are satisfied with getting a 2-3% success rate on their campaigns. If you worked in a factory and only 2-3% of your products were actually bought by a customer – you’d go out of business fast.”
Mintigo has become a popular tool for B2B marketers – increasing their campaign effectiveness between 700-1,000 percent. To achieve numbers like these, it’s not always about having the most data, it’s about having the best data. The technology was created with the idea that there are signals out in the marketplace that convey the best fit for a customer, buying intent, and behavioral intent. This is called a “customer DNA.” A customer DNA is essentially a set of attributes (like human DNA), which are buying signals and intelligence signals about any potential customer or target market.
Mintigo’s two founders were previously intelligence officers in the Israeli army, who spent a great deal of time using data to find bad guys. When they got out of the army, they had many techniques and a unique intellectual property used to scour the entire internet for signals. They’re now using this to help enterprises find their ideal customers.
“The cold call or cold email as we know it today will die,” says Bara. “As we all know, getting those types of approaches from marketers is really annoying. I also predict that this type of technology will become standard for all B2B marketers and B2C.
Bradley D. Weisman