For marketers, using predictive analytics could mean more sales and better customer engagement.
Companies that use predictive analytics for marketing have better business results, according to a new report from Forrester Consulting.
The report, commissioned by EverString, a predictive marketing company, nonetheless involved independent analysis from Forrester from a survey of 150 B2B marketers. Companies that used predictive analytics were 2.9 percent more likely to see revenue growth and nearly 2 percent more likely to meet or exceed sales goals, the report found.
Related: case studies on predictive marketing.
Implementing predictive analytics also improved customer engagement through improved targeting of specific marketing campaigns, which ultimately improved revenue opportunities from the accounts targeted, according to the report. Predictive marketers found implementing analytics resulted in a greater positive impact across the complete customer life cycle from engagement to discovery to buying and beyond.
Finally, 78 percent of respondents said they believe marketing has moved beyond demand generation and now focuses on deal acceleration, increasing the need for predictive analytics and real-time insights. Superior decision making demands it. Nearly half of the respondents (49 percent) said their firm had implemented predictive analytics, while 40 percent said their firm planned to implement predictive analytics within the next 12 months.
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