Ever wonder how it is some companies know exactly what you want even before you start searching for it? Or they just know what you need before you do? It’s not clairvoyance, its predictive analytics, and communications fueled by technology and innovation.
Some are skeptical about the rise in artificial intelligence. How much is too much? However, with the rise of artificial intelligence (AI), companies are finally maximizing data by delivering content that customers or potential customers might find valuable, timely and best of all, relevant. Businesses are swimming in loads of data and are starting to focus on their massive amounts of data into actionable and relevant content.
Predictive analytics and communications are a couple of areas where marketers can truly leverage AI technology across different channels to build customer journeys or humanized journeys from all conceivable touchpoints.
I discussed this topic with marketing experts in different industries to understand their view on predictive analytics and communications and how it is shaping the future of marketing.
Solanch Lopez – Marketing Guru and Assistant to The City Manager of Coral Gables
“It’s not a question of how it will shape the future of marketing but how it already is shaping marketing. We live in an age where our consumers not only expect but demand the best service possible. At the end of the day it also comes down to the bottom line, if we can utilize predictive analytics to anticipate consumer needs as they make their way down the marketing funnel, we have a greater chance of success in making the sale or more importantly in today’s subscription-based market, to keep their business.”
Wendy Guess, Ph.D. – Health, Fitness, Marketing Management, and Research
“While predictive analytics is gaining more appeal in the marketing realm, it’s still essential to recognize the application of it. That falls into the realm, I call predictive communications. Utilizing the insights gained from predictive analytics allows companies to anticipate when and what to communicate to their leads and customers to gain maximum connectivity.”
To Dr. Guess’ point, predictive communications, allows you to anticipate a need before it arises. Anticipating every scenario, based on historical data, can provide insight into future strategy, humanized journeys and customer retention.
Ani Mestre – Director, Marketing Communications
“Predictive analytics are dramatically changing the travel industry. From a marketing perspective, providers, destinations, and travel agents can use predictive analytics to look for patterns and opportunities. They can better segment customers, identify new or more profitable audiences, and predict, prioritize and target those most likely to make a purchase. They can serve up inspiration for a traveler’s next destination, even before the consumer begins to do any research. Using data and predictive algorithms allow marketers to know where your next vacation will be before you do.
Predictive communications are also changing customer service in travel, transforming it from reactive to proactive. If your gate changes or your flight is delayed or canceled, you’ll get a notification in real-time. You might even get rebooked by your airline or travel agent while you are standing in line or holding for customer support. As a consumer, you’ll get better service, without even having to ask.”
Having “someone” lookout for you is always a good thing. Data surrounding travel is almost unquantifiable and the potential for “better service”, as Ani Mestre indicates, is limitless.
Nick Alvarez – Marketing and Realtor expert
“As of today, airlines are winning in predictive communications and it could be related to their investment in technology. I foresee predictive communications becoming more prominent in homes. For instance, say you are connected via WiFi at the supermarket, and as you are perusing in the supermarket, you get a message from your smart refrigerator reminding you, “Consider buying some eggs, milk, and butter. Also, since your son’s birthday is coming up and you tend to bake brownies for him, pick up some brownie mix as well.” This is just an example of where we are headed and how technology will analyze your habits and trigger predictive communications based on your behaviors.”
Manny Fernandez – CEO of Bellak Color
“Predictive analytics is revolutionizing the way businesses are approaching their customers. The ability to leverage and utilize harmonized data across different channels to deliver a compelling story is changing the landscape across all industries. Artificial intelligence is allowing us to develop spot on customer journeys in a way that we’ve never been able to. It truly is an exciting time for marketing.”
How do I get my very own crystal ball?
By now, you’re starting to understand that predictive analytics and communications are fueled by data and artificial intelligence. The power behind the tools is data. It is what will empower marketers in the future to develop more relevant stories, content and build humanized journeys that will boost brand awareness and conversions. So, how do you start? A great tool that is getting noticeable nods is Adobe Sensei. Adobe Sensei is a customer experience management platform. It simulates “real-time customer profiles, continuous intelligence, and open and extensible architecture.” In other words, it utilizes AI and machine learning to predict and render content based on all data points.
Another great tool that launched recently is Salesforce Einstein. Utilizing CRM data, it can predict outcomes, recommend the next steps, build custom models, personalize content and much more.
It’s an exciting time for marketers and the rise of artificial intelligence. Being able to leverage this technology will be imperative to businesses wanting to stay relevant, current and connected to your customers in a whole new way by anticipating their needs before they even know them.
Are you using marketing clairvoyance? Share some of your insight’s on artificial intelligence, predictive analytics, and communications or visit other areas of my blog for more marketing-related geeky stuff.