Segmentation and personalization are powerful techniques in the marketing toolbox and are actively used by marketers. Researchers and analysts are increasingly involved in solving these problems.Predictive analytics
Market researchers who are also data analysts and work in predictive analytics will be very popular in marketing departments in 2018. Marketers who want to reduce their risks will no longer be satisfied with analysts who report how this or that activity has performed. Rather, they want to predict the results of their marketing activities in advance.
These days, the word “analytics” is thrown around with great nigeria cell phone number list relish in marketing circles. Basically, marketing analytics is the measurement and analysis of marketing performance to improve its effectiveness and optimize return on investment (ROI). Like most disciplines, it ranges from simple metrics (such as the number of people who read, like, or share a post on social media) to complex measurements using multivariate statistical methods. Typically, the best research companies with solid research teams provide amazing resources for more complex analytics.
Predictive analytics differs from analytics in that it makes predictions about future events – answering more complex questions: What is the optimal price for our widget to maximize profitability? Who is most likely to buy our product/service? Who is our most valuable customer? This type of analytics is more of a science, but also includes a certain degree of art.
Segmentation and personalization used in conjunction with a company’s brand portfolio can have a positive impact on ROI. The bridge between segmentation and personalization often involves “creating” detailed personas that describe the demographics, geographies, behavioral trends, cultural influences, and psychographics of specific segments.
Instead of targeting the masses, segmentation allows companies to divide their existing and potential customer base into segments that allow them to target specific needs, behaviors, and opinions. Personalization gives customers a sense of identity and allows them to better accommodate differences between people.