“Instinct”—long the stuff of corporate American leadership legends like Jack Welch and Dave Packard, the latter of whom once famously said “Marketing is too important to be left to the marketing people.” These days, however, marketing has new priorities and companies like GE and HP are replacing gut instincts with predictive marketing technology that reveal the true behaviors, characteristics and demographics that correlate to increasing revenue.
Predictive marketing intelligence companies like Lattice Engines
run information from 150 million websites and 35 data providers through complex algorithms to tell its clients where to prioritize sales efforts, how to combat attrition and where the greatest revenue opportunities lie. On this episode of Moneyball for Marketing, Lattice Engines CMO, Brian Kardon explains predictive analytics and shares marketing technology insights from the front lines. Key insights include:
Common ground: How the health care, fraud detection and cable television industries currently benefit from predictive marketing intelligence technology.
Uncommon wisdom: Why contacting the C-Suite is useless for sales most of the time versus when it is actually useful, and how predictive marketing technology helps you know the difference.
Attention to retention: How subscription-based services are using predictive marketing technology to know who is likely to terminate and which incentives will keep them on board.
Engineering success: How Autodesk uses predictive marketing intelligence software plus career websites, like Monster and Career Builder, to discover which companies are the best prospects for its CAD/CAM software sales team to approach.
Better B2B: How Staples is using predictive marketing technology and a constellation of data to make big revenue from its small business-to-business sales unit.
Smart Money: How Amazon’s predictive marketing generated recommendations accounting for 30 billion in annual revenue. Hint: “The more customers that buy, the more accurate the predictions.”
Brian Kardon is the CMO of Lattice Engines. Lattice is pioneering the predictive applications for marketing and sales. Lattice helps companies win more customers by applying sophisticated data science in a suite of easy to use Cloud applications. Brian is responsible for Lattice’s market positioning, demand generation, thought leadership and integrated marketing. He holds a MBA in Marketing and Management, and a B.S. in Economics, Marketing and Finance from the University of Pennsylvania – The Wharton School.