According to Forrester, 89% of B2B marketers now have predictive on their roadmap. Whilst awareness of predictive marketing is increasing in the UK, many senior marketing executives are not clear as to its relevance or potential to support their own sales and marketing function.
So if we were to split up the traditional sales funnel into 3 segments, we can see just where predictive can benefit a B2B organisation.
Addressable Market (Pre-Funnel)
Understanding the size of your market, knowing your market and gaining go to market insights are all fundamental pre-requisites of any clearly defined marketing strategy. Predictive marketing helps you to identify and understand your total addressable market. It looks at your current customers, identifies ideal customer profiles to enable you to build clearly defined personas based on those attributes and serves to guide and validate how you segment your market.
Top of the Funnel
The job for many marketers is to drive more revenue. The top of the marketing funnel needs constantly topping up with new, good contacts and prospects. BrightTarget’s look-a-like feature analyses your best historical customers, and will identify new companies that look similar. You won’t have to buy another cold data set again.
Middle of the Funnel
Over the years it’s probable that your company’s CRM system will have grown exponentially. Either you’re lucky enough to have lots of inbound leads that need following up on, or you’ve bought a heap of cold data to market to. Now you need to decide who do you get your telemarketing teams to prioritise – the inbound leads or the cold data that’s growing colder each and every day.
If you’re not sure what to do with it, it might be worth checking out our lead prioritisation feature. BrightTarget’s lead prioritisation feature prioritises your existing leads based on their likelihood to convert & predicted future value. Don’t chase people who are never going to buy!
Bottom of the Funnel (Existing Customers)
There is usually millions of pounds worth of opportunity existing in your customer base. Analysing your existing customers and their historic transactions, BrightTarget can identify which of your customers are interested in products that they’re not currently purchasing. Selling to your customers is much easier when you know what similar customers have bought from you in the past.
Want to learn more?
Download ‘The Ultimate Guide to B2B Predictive Sales & Marketing e-Book’ – the only resource you will need to understand how Predictive Marketing can address your specific business challenges.