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Predictive marketing : easy ways every marketer can use by Artun, Omer; Levin, Dominique

By Artun, Omer; Levin, Dominique

"Make custom-made advertising and marketing a truth with this functional advisor to predictive analytics Predictive advertising and marketing is a predictive analytics primer for organisations huge and small, supplying sensible counsel and actionable ideas for enforcing extra customized advertising and marketing instantly. the promoting paradigm is altering, and this publication offers a blueprint for navigating the transition from artistic- to data-driven Read more...

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Make customized advertising and marketing a truth with this useful consultant to predictive analytics Predictive advertising is a predictive analytics primer for agencies huge and small, delivering practical Read more...

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Mavi today is running more than 80 different predictive marketing programs in a year. Collectively, these campaigns helped add 7 percentage points to Mavi’s overall revenues in the first few years, which is a huge sum on a dollars and cents basis. Wikipedia reports that Mavi revenues in 2014 were $747 million, so that would be an incremental $52 million. Mavi is still finding new ways to increase customer lifetime value, and with every campaign launched this number is pushed up higher. Elif Oner, Mavi’s head of customer relationship management, recommends all marketers get started with predictive marketing.

This allows computers to quickly study massive amounts of past examples and then learn from the 27 28 A Complete Predictive Marketing Primer previously collected data to distinguish one customer group from another, find correlations a person might not have looked for, and lead to surprising results that marketers might not have discovered. For example, let’s say you are an online retailer of fast fashion. It is difficult to make specific product recommendations because your inventory changes so quickly.

In predictive lingo these are called product-based clusters. Mavi found at least three very different groups of shoppers: customers who favored mostly woven shirts, others who favored beachwear, whereas a third persona mostly shopped for new season high fashion and accessories. Mavi started to use these personas to implement more targeted marketing campaigns via email and short message service (SMS). Specifically, it implemented a reengagement campaign for lapsed customers that featured the right types of products with the right customers.

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