Successful marketers do a lot of research to create effective strategies. As technology advances, increasing numbers of analytical tools are available to help them.
One such field that has developed is called predictive analytics. This area tries to forecast future events and outcomes.
Marketing performance analytics does not deal in certainties. It uses historical facts and big data to predict consumer responses as well as potential risks.
One of the tools this field uses is predictive modeling. Predictive modeling defined in the simplest form is a program that uses statistics to anticipate outcomes and actions.
This tool in an overall predictive analytics strategy is a boon for many sectors, including professional athletics, crime-solving, and influencer marketing. There are ways predictive modeling can help you develop and measure influencer campaigns.
It Helps You Choose the Right Influencers
If you want to partner your brand with influencer efforts, not just anyone will do. There is a lot of data to look at before choosing the best influencers for your brand.
It would help if you also remembered that those personalities with the most massive audiences are often not the most effective because their followers are less engaged with them.
Anyone with a social presence can be an influencer. Ultimately, you are looking to cooperate with someone who has an established target audience and is organically growing follower numbers all the time by posting creative, exciting content.
Even with hours of research, finding the ideal influencers for your brand is still something of a mysterious process.
One of the benefits of predictive analytics in marketing is the electronic correlation and examination of vast amounts of information in one place.
It helps you assess the possible results of working with this influencer as compared to that one. This tool can help you make the best influencer choices for your brand from the beginning.
It Assists in Evaluating Content Features and Lead Prospects
Predictive modeling marketing is also effective at assessing potential customer leads. Part of this facet of predictive modeling involves examining content attributes.
Simply put, different types of content perform well on varying platforms. What works on Facebook, for example, may not be as effective on other networks. Instagram favors visual content, while Facebook often features blocks of copy.
The right types of content delivered to the most receptive target audiences will yield the best results.
Predictive modeling programs can evaluate millions of pieces of data to determine what types of content are expected to be most effective for particular markets and venues.
When you have an idea of what works best for your potential buyers, you can develop influencer marketing campaigns that hone in on those strengths with laser-tight focus.
It Helps You Study and Divide Your Audience
Marketing performance analytics helps you determine important traits about customers. These include predictions, such as who are expected to be the most valuable customers over time, which influencer efforts create the best ROI, and who will likely be the most loyal customers.
There are three ways these analytical prediction tools develop these results.
- Attrition rates study the number of customers lost during specific periods. This is also called churn analysis.
- Affinity analyses help you group consumers according to similar factors in common.
- Response modeling helps you look at past results, including purchases, and the strategies that led to those results.
This type of knowledge helps you initially set a workable marketing budget that will help you meet your goals.
With a substantial budget in place, you can approach influencers and develop tactics to raise brand awareness ranging from product launch parties to expert panels to sponsoring huge music festivals.
With a thorough understanding of your customers and a clear grasp of your financial situation, predictive tools help you avoid ugly surprises and make the best use of your resources.
A Clear Future
In marketing, there are many unknown factors. While nobody can foresee every event that could affect purchase decisions, predictive modeling, and other advanced analytical tools offer digital marketers several ways to evaluate the past to anticipate future results.
When marketers understand the field in which they operate, they can make the most effective use of influencer skills to successfully leverage their brand’s reception by information-laden consumers.