Definition: Going beyond simple technology and cultural trends to determine how to effectively market to a group
Marketing is all about pitching a product or idea at the right time to the right people. Predictive marketing goes a step beyond the usual attempt to grab the consumer’s attention and focuses on predicting what they will do using artificial intelligence and a more sophisticated method of data mining. This approach doesn’t just focus on past behavior and timing, but also considers why certain behavior is occurring and all variables which may affect a purchase.
Artificial intelligence also plays a huge role in predictive marketing considering automated messaging is becoming increasingly sensitive to real-time interactions. An upswing in consumer interaction has the potential to drastically change content being delivered and frequency of messaging.
The jury is still out! Predictive marketing certainly has some believers, but also many skeptics. Until there is concrete evidence of how it influences the consumer, marketers will continue to look to Big Data and their usual ploys for answers.