If you are in the marketing industry, you are bound to come across a few questions while conducting strategies to target your customers. Some of these questions may include concerns about how to utilize customer data to its full potential, or how to incorporate AI properly into operations.
Thanks to Forrester Consulting and Rocket Fuel, these questions were revealed and answered with informative steps that will help marketers combat the constant flux of customer expectations through a brand new Thought Leadership Paper.
This paper explores the importance of predictive marketing and AI themes by surveying France, Germany, Italy, UK, US and Australia
According to Thought Leadership, marketers must question and assess if they are ready for AI-powered advertising, along with deciding a plan of action that properly accommodates the immense amount of data that is now available. Exploring the skills within departments is also effective and can help marketers succeed above the competition.
The key findings of this report revealed 5 fundamentals that marketers must follow in order to succeed in overcoming barriers and challenges in this growing digital age.
Recognizing the customer and exploring their nonlinear journey, AI-based and real-time decision-making, and using first-party data over external data were among the leading fundamentals found. All in all, AI powers these fundamentals and can be a real asset to marketers if used properly.
“Not only does AI-driven marketing enable automation of processes, it makes businesses smarter — finding new insights that were previously not humanly possible — and enables them to act on these insights in real-time.”
In order to carry out these fundamentals, it is crucial for marketers to understand what a large role predictive marketing will play while anticipating what the customer wants.
Customer Expectations Are Shifting
The report revealed that we are in the age where the customer is empowered because of how many channels are available to them, providing more options, which ultimately forces marketers to make sure their brand promise aligns with their organization.
Because the customer is in charge, it gives marketers an opportunity to collect customer data and use it to their advantage, in order to predict how best to create engagement, Thought Leadership reports.
So, just how important is predictive marketing? The Thought Leadership Report has the answers.
For starters, the report revealed that predictive marketing will power the future of digital advertising with the help of technology, data, machine learning and artificial intelligence. The goal of predictive marketing is to make smarter decisions when it comes to conducting marketing actions using customer data.
It helps marketers understand their customer, what they need and where their journey is taking them, in order to deliver a superior customer experience. The Thought Leadership report emphasizes the importance of putting customers at the center of all marketing actions.
When marketers start to put the customer as the main priority, positive results happen, and 85% of respondents agree. The positive results are explained in depth in the paper, you can view them here.
Do you have a proper business plan to combat predictive marketing? No? The Thought Leadership Paper can help.
- Automate their processes by implementing predictive marketing capabilities
- Improve the cross-device recognition
- Leverage first-party data
These are a few of many different plans that marketers are implementing in order to be successful at this strategy. The Thought Leadership Paper emphasizes these points
“Despite having more data and being more connected to the customer than ever, marketers said they still have a tough time meeting customer expectations and delivering contextually relevant experiences.”
What are the challenges that marketers face?
With any new strategy, comes some roadblocks and challenges that stand in the middle of marketers succeeding, or failing. Some of these challenges include actually turning data into action as well as integrating, data from different sources.
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