4 Biggest Predictive Analytics Mistakes with Marketing Automation
- by 7wData
Predictive analytics is the new frontier in digital marketing. Many experts have discussed the benefits of merging predictive analytics with marketing automation tools, such as HubSpot and Marketo.
While integrating predictive analytics into your marketing automation strategy can be very beneficial, it is also difficult to execute. Here are some common mistakes that may be holding you back.
1. Focusing on Scalability of data Collection Above Everything Else
Big data has opened up many Doors for digital marketers. Many marketers try to collect as much data on their target customers as possible.
Collecting massive amounts of data on your target market can be valuable. Kajabi recently launched a new pipeline approach to content marketing, which is very lucrative to brands that have high volumes of quality data.
The keyword is quality.Unfortunately, harvesting massive amounts of data doesn’t always translate into more successful marketing automation campaigns. There are several reasons you should be more selective while collecting data:
You don’t want to scale your marketing automation campaign until you started getting traction with it.
Harvesting high-quality data is only half of the equation. Too many brands invest hundreds of man-hours procuring data but are very negligent with their analysis.
You also need to carefully optimize your predictive model. The best approach is to combine customer data from a customer relationship management tool with behavioral data from your predictive behavior model.
You need to form a very detailed understanding of your target customers.
Unless you are relying extensively on low-volume organic marketing tactics such as SEO, you’ll have to spend a lot for every lead you generate. In some industries, such as healthcare, the average cost per lead is $65.
Unfortunately, many of these leads failed to convert. Even leads that convert don’t always end up being very lucrative.
Complacency is one of the biggest problems with marketing automation.
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