Last updated on January 30th, 2016 at 05:33 pm
A new Forrester Consulting report says businesses taking advantage of predictive marketing tools can often see their main objectives be accomplished: increase revenue growth.
Predictive marketing and analytics platforms are essential to revenue growth for companies, the report states. It’s believed that B2B firms using these types of tools often outperform their rivals in various business metrics, including customer engagement and the ever-important revenue growth.
The study, entitled “How Predictive Marketing Analytics Boost B2B Performance,” showed that predictive marketers are 2.9 times more likely than others to provide higher revenue growth rates than the industry average. Moreover, they’re more than two times likely to be in a top leadership position, and nearly two times more likely to meet and exceed their objectives.
It’s further reported that these same businesses are better at honing in on the full customer lifecycle rather than the early stage activities.
Study authors note that various digital factors have presented two important challenges for B2B marketers. The first is that these individuals are required to establish customized and relevant content, communications and messages to garner potential customers. The second is that their marketing endeavors have to seep into an array of decision makers and influencers.
This is where predictive marketing and analytics features come into play.
Jim Walker, EverString’s vice president of marketing, says B2B buyers are “more empowered” than ever before. Not only can they educate themselves on products offered by a wide variety of companies prior to speaking with a sales representative, their journey to purchasing a product has transformed into an intricate experience.
“We believe these survey results further validate what we’ve seen with our customers,” said Walker in a statement. “There’s an insatiable desire to use data to address these complexities and EverString is focused on providing B2B marketers the most advanced data science-as-a-service technology to take advantage of this shift and identify their best customers.”
The report, which was done with 150 United States-based B2B marketers, states that B2B marketers maintain a crucial role in their respective organizations, and observers are realizing this truism.
Seventy-eight percent of survey participants note that the marketing department’s role has ballooned from demand creation to deal acceleration.
Predictive marketing strategies have already been incorporated into a strong majority of marketers’ plans with 89 percent reportedly using it. Also, close to half (49 percent) of firms report already using predictive marketing and analytics.
This isn’t the only report to highlight the benefits of predictive marketing tools.
Last year, one report found that predictive marketing endeavors delivered immense returns on investments by delivering better targets and more efficient marketing campaigns.
The purchasing behaviors of B2B customers have greatly expanded, and B2B marketers have no other choice but to adapt. An insightful glimpse into the acquisition attitudes, processes and behaviors are essential to an effective marketing initiative.
In the end, predictive analytics pays off for anyone who is willing to take advantage of it.
Liked this article? Be sure to also read our report on the value of predictive analytics