Predictive analysis gives businesses an opportunity to capitalize on the data they hold on their prospects as well as clients. B2B companies can use the data to design a predictable and profitable pipeline for the business. 

Predictive analytics for B2B marketing includes creating a complete view of the prospects and then utilizing the data to uncover the best way to convert them.

Companies that used predictive analytics saw an average 11% increase in the number of clients and experienced an 8% increase in cross-sell and upsell revenue in the previous 12 months when compared to organizations that didn’t implement the predictive analysis. 

1.7 megabytes of data will be produced every second for everyone in the world by 2020. In order to stay ahead of your competitors, you need to analyze the data and create strategies to increase ROI.

Having said that, let’s have a look at some of the benefits of implementing predictive analytics and why it should be a priority for B2B companies. 

1- Audience Segmentation To Identify Potential Clients

Predictive Analytics studies behavioral patterns and combines demographic data to identify trends to convert the most promising leads. It also analyzes data to make recommendations that can help you grow your target audience. 

Predictive analytics predicts the likelihood of your success with new prospects. Apart from that it even helps you build your ideal customer profile and target them by optimizing market programs. 

Predictive analytics helps you push leads faster in the funnel. It allows you to segment your prospects using advanced filters such as their buying intent and their needs. You can then target each of these segments with personalized marketing to convert them. 

2 - Forecast To Improve Sales Performance

Predictive analytics can help you know what might happen, understand how the industry might behave in the near future, by forming a better picture of what your customers or potential clients want. 

You can then offer tailor-made products by analyzing the data. Since these predictions are driven by data and meaningful insights, using this information effectively can take your business to the next level.  

Sales teams can analyze historically as well as ongoing feedback and can compare what happened in the past with what’s happening now to understand performance and can prepare themselves for future circumstances. 

As a result, you get an upper hand in the market by offering customized services based on the clients’ requirements.  

3 - Personalize Marketing Campaigns To Increase Conversion Rate

With the help of data-driven predictive analysis, you can target the right customer at the right time with the best method possible.

Targeting a customer doesn’t always include new customers, it might be retargeting previous customers and retaining the existing ones and the most effective way to do so is through personalizing the content they see about your business. 

Targeting specific businesses with personalized emails can help you convert a lead. You can also create customer personas to target companies more precisely.

Predictive analytics can classify leads based on how likely they’re to convert so that you can focus more on the prospect who is more likely to turn into a client and run special personalized campaigns for the least ones.   

Is Predictive Analytics Useful For Sales Teams? 

A sales representative can prioritize leads based on how likely they’re to convert and can structure the sales process accordingly. In fact, 57% of the high-performing sales teams rely on predictive analytics.

Businesses can use predictive analytics to improve lead generation, match the value, maximize customer lifetime value, and get the right price according to the market. 

With the help of predictive analytics, sales teams can establish the best possible ways to approach each and every prospect. They can even judge how engaging the email format is and how impactful is the subject line when sending out an email to a prospect. 

Bottom Line

Predicting how the market will behave in the future has never been this easier. Predictive analytics can help you retain existing customers and attract new leads based on their online behavior and past purchase history. Targeting the right prospect at the right time is the key to convert them.