Top 4 Ways your CRM can use Predictive Intelligence
By Sarah Meyers
Did you know that 86% of marketing executives have already indicated they have seen a positive return on investment in marketing technology and predictive analytics
Let’s face it! Technology is here and in many aspects leading the way to the future of Marketing and Sales.
In our previous blog post, we saw how to make the most of marketing automation with CRM. We saw that Marketing Automation coupled with CRM has a league of its own when it comes to predicting consumer preferences and behaviour.
In this blog post, we’ll dig a little deeper to realize how CRM and Predictive Intelligence works together to give clients the best possible experience. We have outlined four compelling reasons for you to use CRM and evolve with the latest trends in Predictive Intelligence. Let’s begin
1. Predictive Lead Scoring
According to Forbes, Predictive lead scoring is now a ‘must have’ for B2B technology marketing leaders with high volumes of leads from inbound channels and events. Gone are the days of manual lead scoring. Predictive lead scoring is here and has plans to stay. Another recent study suggested that 90% of the users agreed that Predictive Lead Scoring proves more valuable than traditional approaches.
Using predictive intelligence with a CRM can guide you better on which customers to follow and target based on their purchasing history and past behaviors. Therefore, it is the time your Sales Reps realized times have changed.
Let’s consider a hypothetical situation with our prospective client Sally
The previous frame of mind of your Salespeople went something like this: I have communicated to Sally all what we can offer and now hoping that Sally would choose us. With the latest predictive technology the word ‘hoping’ is replaced by ‘knowing’.
Now using CRM could with Data intelligence tools (like D & B with Sugar) you can easily tell whether Sally is here to stay.
2. Personalized Product Targeting
Wondering what more you can do for lead conversion. Now predictive analytics embedded in the latest CRMs can guide you all the way to close the deal. Predictive Intelligence and CRM can generate an idea for the Right product.
This right product can range from a novel idea to a minor customization in your existing product to make it a sure sell.
At this stage, Sally has become interested in your product or has at least made it into her consideration list. She might also be looking at your competitors’ products. What will make the difference here? If only you could show Sally that not only your product is the best in the business but also one which would cater to her present as well as future needs.
Wondering how it’s possible? One word: Predictive Intelligence
3. Personalizing the Complete Consumer Journey
From the moment a prospective lead engages with you, predictive analysis allows you to place the right content via Emails and Web messaging to that client. As engagement grows it allows you to direct the right message across.
With each step of the consumer journey, Predictive analytics help to track the consumer experiences and continuously adapts your marketing message to suit the exact needs of the lead. Now, the way to smart selling becomes presenting your client with the customized product geared towards catering to the exact requirements of that client.
With Predictive Intelligence and CRM, you can also easily tell which stage of the buyer’s journey Sally is currently located in and what you can do to close the deal.
4. Automated Decision Making
In our previous blog post, we discussed the wonders that ‘Big Data’ Analytics can do for your business. To summarize the argument, Data Analytics in a suitable CRM lets you automatically visualize the insights form heaps of Big Data. It streamlines your systems and processes around your data to make the best use of it and grow while keeping you most safe.
More and more Data can now make the decisions for when to present a client with a product. This is because once huge data is analyzed; CRMs can visualize the characteristics of the clients including their preferences, habits, market segment and demographics etc. and decide whether it can come up with an irresistible offer for your client.
This is where you can up-sell or cross-sell to Sally as you now absolutely know everything you needed about her.
How do you plan on using CRM and make the most of Predictive Intelligence? Let us know in the comments section below or contact us here