Adam and Jeannie share unconventional but powerful ways to predict customer behavior.
Can you predict customer behavior?
We often look to past behavior to predict customer behavior for the future. Using marketing analytics companies, we are able to dive deepr into the meaning of the data we collect. The reality is we often have little past behavior to build from. Can we predict the behavior of new or future customers? The short answer is yes…
One way to do this is with predictive analytics. But unless you’re a huge company, it’s not yet economically feasible. And while it can be valuable, demographic data is not sufficient for making truly informed decisions when creating future experiences, the use of predictive analytics, customer analytics and the overview of your digital marketing platform can be used to create a predictive pattern of your businesses customer base, making driving sales easier and therefore creating more profit.
Furthermore, several businesses invest in bulk email marketing strategies to influence customers and make them feel as if product recommendations were sent based on their previous preferences. This falls under predictive analysis, in which marketing is done by tracking user clicks. However, because everything has advantages and disadvantages, email marketing has some drawbacks as well. When a company hires an Email Marketing company to send emails in bulk on their behalf, approximately half of the emails go undelivered due to typos or simply because the email ID is invalid or not active at all. However, these shortcomings can be dealt with by investing in email verification platforms such as mailfloss, which may not only assist businesses with the verification of invalid/inactive emails but also assist them to correct typos in email IDs and syncing them with the email service providers.
Coming back to our previous discussion now, how can we know how customers will behave in the journey we’re putting in front of them if we don’t have enough data? You have more useful data than you think, so why not start using it proactively? Many businesses will use Epsilon solutions in order to glean actionable insight from customer data to better market towards existing and potential customers.
No matter what little data and insights you already have, there are ways you can take them to the next level. Today, we’re discussing great ways to predict customer behavior with little or no history and without expensive software. Stop relying on demographics as your only option. Adam and Jeannie have some tips you can use today, and examples of great companies who have put them to work. Listen in!
Listen To This Episode!
Give your team the customer service training they deserve
Want to bring game-changing customer service training to your team? CTS Service Solutions offers a half-day in-person workshop designed to motivate and educate your customer-facing team members. Using energy, excitement, and interaction, our workshop helps frontline teams embrace a customer-centric outlook, then – using the principles from our book Be Your Customer’s Hero – gives them the skills and confidence they need to handle any service interaction. Don’t leave your frontline team hanging… Give them the training they deserve. Learn more at customerheroworkshop.com, that is customerheroworkshop.com.
- 360Connext ® post, 5 Leadership Biases that Hinder Success in Business
- Customers That Stick ® post, When Does Your Customer Experience Start?
- Episode 043: When Is it Okay to Hack Customer Behavior?
- Episode 119: CXPA Live, Predictive Analytics
- We’re on C-Suite Radio! Check it out for more great podcasts
Take care of yourself and take care of your customers.