Successful Applications of Predictive Analytics
There are a lot of different ways in which you can use predictive analytics, but in today’s customer-focused, technology-driven market, this predictive capability needs to be at the core of your sales and marketing efforts. How our customers do this is completely up to them – some are using the data to drive their own internal systems; some are using us as an end-to-end solution. Below are examples of how some of our customers are putting MRP predictive analytics to work for them.
1. Predictive Modeling
The client: A large, independent, end-to-end IT services company
The challenge: A change in focus from named account selling to increasing win rates
among the company’s largest, most strategic deals. Marketing had to evolve from broad-based, ‘generic’ messaging to micro-targeted, customized messaging.
The solution: MRP Predictive Modeling, which segments the target audience by vertical, geography, and buying intent. MRP Prelytix streaming intent data allows marketing to track buyer activity and provide the sales team with critical information about their key accounts: website activity, key word searches, and content downloads.
The results: The sales team uses insight into buyer activity to identify needs, customize messaging and tactics, improve customer engagement, and accelerate time to revenue.
2. Win Loss Analysis
The client: A global tax and accounting software company
The challenge: Aligning marketing and sales
The solution: Win Loss Analysis, which used MRP’s predictive analytics data to look at the company’s most recent wins and losses to identify any recurring trends: Keywords searched? Content downloaded? How did wins and losses differ? This information was used to adjust the MRP Prelytix algorithm, redefine the customer’s predictive strategy, and improve the process of moving leads through the pipeline.
The results: Marketing stays ahead of buying patterns and produces more qualified leads for the sales team. The sales team is able to engage with customers more quickly and easily. Marketing and sales are more aligned.
3. Predictive Analytics + Account-Based Marketing (ABM)
The client: Veeam Software, provider of backup, disaster recovery, and virtualization management software for the Always-On Enterprise.
The challenge: To adjust marketing tactics to match the company’s change in focus from the SMB market to selling to 1,400 enterprise accounts. Veeam sells exclusively through a channel of resellers.
The solution: MRP Predictive Analytics plus ABM services. MRP Prelytix identifies and prioritizes accounts, based on region, company size, and propensity to buy, for each of Veeam’s regional partners. An ABM strategy uses interactive direct mail to target the most active prospects, and inside sales to follow up with those that respond to the mailer.
- 50% conversion of profiled leads to meetings
- 25% conversion of meetings to pipeline opportunities
- Improved relationship and closer alignment with channel partners