Stuart Russell, Client Services Director at Planning-inc, explains the importance of machine learning in your marketing strategy.
For a number of years, marketers have been talking about the power of AI and the merits of a “right message, right customer, right time” approach to customer marketing.
Grounded in your customer data, predictive marketing enables you to operationalise insight and effectively implement and automate AI-driven marketing strategies at scale. In these challenging times for many, brands should look to the latest in machine learning to provide agile, intelligent support to drive customer strategies and respond to current business challenges.
Engaging customers through relevancy
As the sophistication of marketing processes has grown, so too have customers’ expectations. Customers are asking for relevancy in exchange for their continued engagement and now is the time to listen.
Relevancy couldn’t be a more powerful proposition than it is right now. With many customers’ shopping patterns having abruptly changed, long-standing trends may no longer ring true. Only advanced ML solutions are capable of keeping up with rapidly shifting customer behaviours, ensuring that you are targeting the right customers with the right personalised content.
Supporting agile ways of working
Predictive marketing also has an important part to play operationally at the heart of your business. This is a time when many brands are managing highly reactive marketing strategies. Marketers need to be enabled to make quick changes to campaigns without sacrificing targeting and personalisation.
The automated nature of ML means that once implemented, these processes require little in the way of hands-on management, and adapt dynamically to changes in customers’ shopping patterns, stock availability or browsing activity.
Generating value and spend efficiencies
With many marketing teams being asked to reduce budgets and find spend efficiencies, the role of AI is more important now than ever. Advanced ML solutions have the power to predict customers’ future spend and loyalty, providing businesses with a new set of hyper-intelligent value-driving levers to flex, ensuring budget is allocated to the right customers.
Knowing customers’ potential lifetime value, and the actions needed to gain and sustain their loyalty, provides brands with the ability to implement customer-specific strategies, optimising customer spend, managing discount allocation, and supporting long-term brand engagement.
If you are interested in unlocking the power of predictive marketing for your business, Planning-inc are offering complementary workshops where we overlay our experience in delivering advanced ML solutions for leading brands onto business’ specific requirements, objectives, and challenges. Find out more information about their workshops here.