Free ebook: Predictive And Advanced Analytics Support Consistent Customer Experiences

PREDICTIVE AND ADVANCED ANALYTICS SUPPORT CONSISTENT CUSTOMER EXPERIENCES Progressive B2B marketers are investing heavily in advanced analytics tools to offer consistent customer experiences throughout the buyer’s journey. A recent study from Forrester Research shows that nearly half (45%) of B2B marketers are increasing spending on advanced analytics technologies compared with last year, and 36% are maintaining the same levels. This ebook from DemandGen Report covers the who, the why and the what of advanced and predictive analytics and how some of the leading minds in marketing are leveraging new technologies to enhance their customer experiences. Get insights from ANNUITAS, CBIG Consulting, Raab Associates and others.

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Predictive And Advanced Analytics Support Consistent Customer Experiences Progressive B2B marketers are investing heavily in advanced analytics tools to offer consistent customer experiences throughout the buyer’s journey. A recent study from Forrester Research shows that nearly half (45%) of B2B marketers are increasing spending on advanced analytics technologies compared with last year, and 36% are maintaining the same levels. Some B2B companies that are finding success with predictive and other advanced analytics capabilities include: • Autodesk, which increased data accuracy to 85% by using Leadspace to expand their information on target accounts; • GoodData, which generated $1.9 milion in net-new pipeline using real-time predictive scoring; and • Five9, which saw a 250% increase in outbound sales in one year using advanced analytics for lead segmentation.Marketing analytics have the potential to make each part of the buying experience more relevant by delivering messages that are tailored to the buyer’s current needs, interests, location, role, and more, according to David Raab, Principal of Raab Associates.“It’s probably equally important that analytics tell marketers who not to contact, because they’re a poor fit or not likely to be in the market at the moment,” Raab noted. “In a world where everyone gets too many messages, that’s a benefit.” The analytics space is moving beyond early adopters toward maturity, according to Amnon Mishor, Founder and CTO of Leadspace. “We’re seeing B2B organizations formulate advanced analytics initiatives,” Mishor noted in an interview with Demand Gen Report.”B2B marketers are catching up in defining the need in advanced analytics. In regards to successful implementations, however, we’re still early on in the process.” Six Ways Advanced Analytics Can Impact B2B Success When leveraged effectively, advanced analytics can have a positive impact throughout the entire buyer’s journey. David Raab, Principal of Raab Associates, highlighted how advanced analytics such as predictive capabilities can be applied to tackle multiple B2B marketing and sales initiatives, including: 1. Selecting the best prospects based on fit and behavior; 2. Deciding which products, offers, and contents to provide; 3. Prioritizing leads for sales people; 4. Reactivating dormant leads or customers who may be worth retargeting; 5. Finding customers who need to upgrade or expand their purchases; and 6. Finding customers at risk of not renewing. Nearly half (45%) of B2B marketersare increasing spending on advanced analytics technologies compared with l a s t ye a r. - Forrester Research • Predictive And Advanced Analytics Support Consistent Customer Experiences The more marketers know about the buyer, the better able they are to anticipate their needs and meet those needs for the customer, sources noted. This makes advanced analytics such as predictive capabilities more and more intriguing to B2B organizations. “B2B organizations have to understand their business needs to identify what predictive tools would help them the most,” said Jon Russo, Founder of B2B Fusion Group. Sources noted that to be successful with analytics in a B2B environment, companies must have a clear understanding of what they are trying to accomplish — including strategies to accomplish those goals. “Think carefully about what your goals are and what questions you’re going to ask,” said Ron Brooks, VP of Strategic Consulting at CBIG Consulting, which specializes in Big Data, BI and marketing analytics. ”Precision is always good, but if you’re not measuring the right things, you won’t find the success you want.” Brooks highlighted one B2B client who saw an 80 to 1 ROI by tracking and leveraging the right metrics. The company was also able to cut data management costs by 40%. “[B2B companies] must understand what you’re paying for; understand what info you’re obtaining and what you can do with that data,” Brooks concluded.According to Erika Goldwater, VP of Marketing at ANNUITAS, B2B marketers are ready for predictive analytics if: • They have a clear, documented demand gen strategy; • A good sense of their ideal customer; and • Good content consumption and conversion rates, but room to grow. “I think that with advanced analytics and data enrichment, more data is better if you know what you’re looking for,” Goldwater noted. ”If you don’t have the basic strategy, how do you know what additional data you need? If you don’t have cadence, you’re just adding more junk to your database because you don’t know what you need.” “Precision is always good, but if you’re not measuring the right things, you won’t find the success you want.” - Ron Brooks, CBIG Consulting CLEAR GOALS MAXIMIZE ANALYTICS EFFECTIVENESS • Predictive And Advanced Analytics Support Consistent Customer Experiences