What’s New in our Latest Software Upgrade, Prelytix 2.0
Recently, Forrester published a great research paper titled “Forrester Wave™: Predictive Marketing Analytics For B2B Marketers, Q2 2017,” by respected analysts Laura Ramos and Allison Snow. There were two points that really stood out to me in this paper: predictive analytics is an emerging market, so it’s often difficult to determine what differentiates vendors in this space, and effectively operationalizing predictive output is critical to its return on investment.
This is why we’re so excited about our latest platform upgrade, Prelytix 2.0. It offers functionality that other predictive vendors don’t have. And, we’ve made enhancements to a key differentiator of ours: the orchestration and operationalizing of marketing tactics based on the predictive output of MRP Prelytix. All of these things will make our already strong ROI story even stronger. Here’s a quick snapshot of what’s new:
- Real Time Intent: MRP Prelytix is now fully leveraging the power of Kx, the underlying technology platform. We have 50 times more data than in previous versions of the platform, thanks to Kx’s streaming pipe into the B2B web. In addition, Kx:
- Is the leader in ultra-high speed processing of real time, streaming, and historical data
- Is 40 times faster than Hadoop and requires a fraction of the hardware footprint
- Captures billions of records per day from our clients’ websites, CRM systems, and marketing automation systems as well as the B2B web and other third party sources
- Leverages intelligence from marketing tactics executed by MRP on behalf of our clients, adding to the accuracy of the ABM score
- Improved ABM scoring: The goal of a predictive analytics solution is to deliver leads that have shown the greatest propensity to buy and are most likely to convert to sales opportunities. This starts with improving real-time lead scoring. Here’s how it breaks down in Prelytix 2.0:
- Predictive v. intent: Many companies in the predictive space have varying viewpoints about the pros and cons of leveraging intent data. MRP’s take is that both are critical, which is why we’ve built our platform to optimize both technologies.
- Access to proprietary intelligence: MRP has been gathering critical account intelligence through account-based marketing execution for more than 15 years. This experience has helped us learn what works and what doesn’t, and allows us to pass these insights on to our predictive customers.
- Ability to customize the algorithm: Unlike other black box solutions, MRP Prelytix allows users to adjust the weighting of the inputs to the algorithm, ensuring that the output of the score aligns with their needs. Our clients can leverage our best practices or bring their own models to the platform and implement them quickly and seamlessly.
- Contextually-based relevance: MRP Prelytix 2.0 uses natural language processing (NLP) to improve the way in which we uncover buyer intent and journey stage. NLP delivers not only the ability to get a deeper view of what prospects are researching on the web, but also the context of the research and how relevant it is to our clients, increasing the accuracy of the intent signal and prediction.
- Streamlined integration of our clients’ systems: A foundational element of predictive is incorporating what our clients already know about their target market and how their prospects are moving through the buyer journey. Our native CRM and marketing automation integrations allow this critical intelligence to securely inform an account’s ABM score.
- Global ABM execution: Our business was founded on helping clients drive opportunities, pipeline, and revenue as well as elevating their brand awareness. Turning insights into action is in our DNA. Prelytix 2.0 enhances our ability to operationalize predictive in two distinct ways:
- Customize content using display: MRP Prelytix allows you to send display content, in real time, to the companies and individuals who are researching your products and solutions. The content is customized by solution topic and buyer journey stage through both IP and cookie-based retargeting. And the results of these tactics are fed back into MRP Prelytix, making the algorithm smarter and creating a true closed loop predictive engine.
- Predictive plus account-based marketing: The enhanced orchestration widget gives our users the ability to launch multiple tactics, in real time, anywhere in the world, within an account-based marketing framework. This ensures prospects will receive the right message at the right time by way of the tactic they are most likely to respond to, including display, email, direct mail, or inside sales.
Using MRP’s ABM managed services to drive results from MRP Prelytix is a great way for clients to leverage our end to end capabilities. But we also have many clients who leverage our predictive output to fuel their own marketing execution engines.
Prove it with Predictive:
The biggest question with predictive is, does it actually work? Does predictive analytics really make my sales team more effective? Will I get higher response rates from my marketing tactics if I use predictive? What is the ROI on predictive analytics?
To get answers to those questions, we analyzed several programs that have been running on our platform for the past three years. We looked at the opportunities delivered, what turned into revenue/closed deals, and what the deal size was. And the answer is yes, predictive does work.
With MRP Prelytix-powered opportunities, clients saw:
- A 257% response rate increase in Prelytix informed opportunities
- A 197% higher chance of converting into closed business
- A 208% increase in the size of deal
Predictive analytics is all about the inputs that drive the algorithm, the effectiveness of the algorithm itself, and how you action the output. MRP Prelytix 2.0 performs well in all these areas, but we are just getting started. With continued development in natural language processing, deep learning, and AI, we will continue to drive innovation in this space and more importantly, deliver world class results to our clients.