Reaching consumers is easy. But, reaching the right ones? Not so much. Not without the right tools. There’s no doubt that data is the bedrock of effective consumer targeting. But data alone can’t magically put you in front of the right prospects. Without proper direction – aka predictive models – your marketing campaigns can go into oblivion, despite access to mountains of consumer data. Here’s when predictive models become essential for customer targeting strategies!
Trusted by leading brands, Speedeon’s data-driven solutions make predictive modeling more accessible, fast, and effective for marketers.
Why Predictive Modeling?
Predictive modeling is a statistical technique that uses current and historical data to predict future outcomes. For marketers, predictive modeling is the crystal ball that helps them foresee customer actions and prepare well in advance.
By combining your first-party data with rich third-party consumer insights, predictive models help you build detailed profiles of your ideal customers for better targeting. This allows you to focus your efforts on the audiences most likely to convert, improving efficiency and maximizing return on investment.
Case study: Furniture retailer sees 58% increase in response rate with Speedeon’s predictive modeling solutions.
Building Models for Consumer Targeting
Predictive audience modeling is a powerful tool for marketers. However, to get optimal results, you need to invest in reliable analytics and modeling solutions. The insights from predictive models will only be as reliable and accurate as your data. So, brands that rely on predictive models for their campaigns need to invest in high-quality and updated customer data for more accurate insights.
Moreover, you need a platform that’s seamlessly integrated with comprehensive features to allow you to enrich data, segment audiences, identify patterns, run tests, and validate your models before launching them across campaigns.
When done right, predictive models can help you perfect your marketing strategy. Here’s how!
Reach the right person
Predictive models help brands segment their audiences based on behavioral and demographic traits for highly refined targeting. It can drastically cut down your marketing spend as you only target customers who are most likely to respond to your offers.
With the right message
With a deep understanding of your customers, you can curate highly personalized marketing messages with relevant product recommendations. It will lead to higher conversion rates and also help your brand stand out from the competition.
At the right time
One of the best things about predictive models is that they help you reach prospects when they are primed to spend. By connecting with consumers during their critical life events, you build stronger connections, improving customer lifetime value.
Through the right channel
Predictive modeling solutions like AudienceMaker are integrated with cross-channel activation to help you reach your target audience through multiple channels ensuring they receive your offers where and when they’re most likely to engage.
When Does Consumer Targeting Fail: The Gap Between Insight and Impact
Today, failed campaigns are rarely the result of mass marketing – that era is long gone. Most marketers now embrace data-driven customer targeting. Agencies, large and small, are constantly seeking fresher data and more accurate audience modeling to power their campaigns.
Still, in a recent study on audience targeting, we found that many well-resourced agencies still struggle to get the right results. The root cause was a lack of internal data resources.
Agencies, especially those without in-house data scientists, find audience modeling complex because most data modeling services available today are either too technical or don’t have all the required features built in to model audiences and launch campaigns seamlessly. This makes them turn towards multiple vendor-managed solutions.
But, these often lead to incoherent processes and take too much time. In fact, the STANDARD model building time expected for direct mail campaigns is 1-4 WEEKS. These can lead to delayed campaigns, wasted spend, and missed market opportunities. For effective customer targeting, you need to be able to build predictive models faster!
AudienceMaker: The Platform for Building Predictive Models in Minutes
AudienceMaker is an all-in-one predictive modeling platform that lets you build audiences in just minutes – whether for digital or direct marketing campaigns. Until now, you were probably used to waiting weeks for a model. Well… not anymore.
Audiencemaker includes:
- Models delivered in minutes – so you can act on insights the same day, not next week
- Access to Speedeon’s extensive consumer database
- Tools for market segmentation, audience suppression, and pattern identification
- Prebuilt machine learning models your team can use without a data science degree
- Support for both time series forecasting and lookalike modeling
From market segmentation to audience suppression, the platform has all the essential features. With access to Speedeon’s comprehensive consumer database, marketers can easily identify their best customers. Best of all, it doesn’t require your team to be data scientists. Anyone can build audiences and if you need help, our team is there to support you.
Don’t take our word for it. Read our case studies on how our predictive modeling solutions delivered impactful results for brands across different industries!
- New Insurtech Company Turns New Movers into Customers with Lookalike Modeling
- National Home Improvement Retailer Drives Efficiency with Target Audience Segmentation
Want to learn how AudienceMaker can refine your customer targeting strategy? Book a Demo today!
