Predictive marketing

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predictive-marketing

Predictive marketing

Predict future sales. A relatively new development in marketing is predictive marketing. Future developments are derived from existing data. What exactly it's all about and how you can use it for yourself can be found here.

Predictive marketing

Predict future sales. A relatively new development in marketing is predictive marketing. Future developments are derived from existing data. What exactly it's all about and how you can use it for yourself can be found here.

Predictive marketing - how does it work?

Predictive marketing is a difficult but, if successful, very effective form of marketing. While other forms of marketing show measurable (mis)success relatively quickly, the result of predictive marketing can only be measured later.

As the name suggests, marketing activities are anticipated. Based on existing data, future purchase decisions should be estimated and prepared to enable more fluid processes.

Data as the basis for predictive marketing

So far, mainly large companies, such as Amazon, have dealt with the topic. The basis for being able to predict a certain behavior is large amounts of data. The data here is compiled from a variety of sources, including:

Purchasing behavior

What was purchased and when, how long was it in the shopping cart before it was purchased, and were any other items purchased? Was it perhaps a certain price that was decisive or just the indication that this article was now cheaper?

Surfing behavior

This monitors how long the visitor stays on which page, where he moves the mouse and where he clicks and when. This data can also be made available as a video, so that the store operator himself can also see what he can improve where.

Returns

Which items are returned more often than others? After what time, in what condition and with what justification?

Depending on what is determined here, this and similar articles that the algorithm finds out will no longer be displayed in the suggestion list of those in the personalized newsletter.

Other interests

These are often decided by newsletter. Standard newsletters are not always sent to all customers, but are estimated and personalized based on previous purchase and return behavior. For this purpose, the newsletter is divided into different sections, which are then automatically filled with estimates. Each click is in turn evaluated and added to the large data pool to make future purchases even better.

Collection and analysis of data for predictive marketing

These and some other data are stored per person and evaluated by different algorithms. On this basis, Amazon offers, for example, the service “other customers also bought…”. The estimation of which products will be displayed is now quite accurate and increasingly leads to a purchase.
The algorithm even provides for an early decision to place goods in the warehouse based on previous behavior. So when you add a security camera to the shopping cart and it shows that there are certain accessories for it, in the background warehouse employees may already be given an order to get the camera and accessories ready on a shelf near the packing station.
If you decide often and quickly for such products and the predictions for the accessories, or other matching items also apply more and more often, this will optimize the shipping process and you will receive your order even faster.

Let us optimize online marketing

Even if your collected data volumes are not yet sufficient for such precise statements, we will gladly take care of your online marketing. Our experts analyze your website, your store and, if available, your marketing measures and develop a new concept within the framework of online marketing consulting, which we implement together with you.


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