B2B marketing relies heavily on data and analytics for more tailored marketing campaigns. Rather than just guessing how your target audience behaves, you can actually keep track of their behavior and preferences.
If you don’t use analytics yet, then Google Analytics is a great place to start. You can use them for your website to track where your traffic comes from. This way, you can change your website to fit the habits and preferences of your target audience.
A new development that’s taking shape is predictive analytics. These attempt to predict your target audience’s behavior based on their past history. According to a recent Business 2 Community article, we have already been exposed to this type of marketing from companies like Amazon and Netflix:
“Just like how Amazon can predict your next purchase and Netflix recommends your next binge-watch, B2B marketers are using data and predictive analytics to identify which customers are most likely to churn, which prospects are most likely to buy and which products to pitch to existing customers. In 2015 and beyond, predictability will extend to all aspects of marketing.”
If you’ve ever gotten an email from Amazon that seems eerily similar to your purchasing habits, then you’ll know how accurate their indicators are. And the same goes for Netflix. If you spend a lot of time watching Mad Men, then Netflix will recommend Boardwalk Empire and The Sopranos. It’s a new product that they know you’ll probably like.
Now consider how your business can use predictive analytics. Instead of waiting for clients to contact you for a new order, you can initiate the conversation. Based on their past order history, you can trigger emails suggesting a new order similar to their last one.
Predictive analytics are an effective way to convert repeat sales. They’re key to capitalizing on client loyalty, especially if you have a client base that places multiple orders per year.