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Predictive Marketing

Book Description

Make personalized marketing a reality with this practical guide to predictive analytics

Predictive Marketing is a predictive analytics primer for organizations large and small, offering practical tips and actionable strategies for implementing more personalized marketing immediately. The marketing paradigm is changing, and this book provides a blueprint for navigating the transition from creative- to data-driven marketing, from one-size-fits-all to one-on-one, and from marketing campaigns to real-time customer experiences. You'll learn how to use machine-learning technologies to improve customer acquisition and customer growth, and how to identify and re-engage at-risk or lapsed customers by implementing an easy, automated approach to predictive analytics. Much more than just theory and testament to the power of personalized marketing, this book focuses on action, helping you understand and actually begin using this revolutionary approach to the customer experience.

Predictive analytics can finally make personalized marketing a reality. For the first time, predictive marketing is accessible to all marketers, not just those at large corporations — in fact, many smaller organizations are leapfrogging their larger counterparts with innovative programs. This book shows you how to bring predictive analytics to your organization, with actionable guidance that get you started today.

  • Implement predictive marketing at any size organization
  • Deliver a more personalized marketing experience
  • Automate predictive analytics with machine learning technology
  • Base marketing decisions on concrete data rather than unproven ideas

Marketers have long been talking about delivering personalized experiences across channels. All marketers want to deliver happiness, but most still employ a one-size-fits-all approach. Predictive Marketing provides the information and insight you need to lift your organization out of the campaign rut and into the rarefied atmosphere of a truly personalized customer experience.

Table of Contents

  1. Title Page
  2. Copyright
  3. Dedication
  4. Introduction: Who Should Read this Book
    1. About This Book
    2. What Is in This Book
    3. About the Authors
    4. Acknowledgments
  5. Part 1: A Complete Predictive Marketing Primer
    1. Chapter 1: Big Data and Predictive Analytics Are Now Easily Accessible to All Marketers
      1. The Predictive Marketing Revolution
      2. The Power of Customer Equity
      3. Predictive Marketing Use Cases
      4. Predictive Marketing Adoption Is Accelerating
      5. What Do You Need for Predictive Marketing?
    2. Chapter 2: An Easy Primer to Predictive Analytics for Marketers
      1. What Is Predictive Analytics?
      2. Unsupervised Learning: Clustering Models
      3. Supervised Learning: Propensity Models
      4. Reinforcement Learning and Collaborative Filtering
      5. The Predictive Analytics Process
    3. Chapter 3: Get to Know Your Customers First: Build Complete Customer Profiles
      1. How Much Data to Collect
      2. What Type of Data to Collect
      3. Preparing Your Data for Analysis
      4. Working with IT on Data Integration
      5. One Hundred Questions to Ask Your Data
    4. Chapter 4: Managing Your Customers as a Portfolio to Improve Your Valuation
      1. What Is Customer Lifetime Value?
      2. Increase Customer Lifetime Value for One Customer
      3. Increase Customer Lifetime Value for All Customers
  6. Part 2: Nine Easy Plays to Get Started with Predictive Marketing
    1. Chapter 5: Play One: Optimize Your Marketing Spending Using Customer Data
      1. Invest in Acquisition, Retention, and Reactivation
      2. Differentiate Spending Based on Customer Value
      3. Find Products That Bring High-Value Customers
      4. Find Channels That Bring High-Value Customers
      5. The Case for Last-Touch Attribution
    2. Chapter 6: Play Two: Predict Customer Personas and Make Marketing Relevant Again
      1. Types of Clusters
      2. Using Clusters to Improve Customer Acquisition
      3. Things to Watch Out for When Using Clusters
      4. Clusters in Action
    3. Chapter 7: Play Three: Predict the Customer Journey for Life Cycle Marketing
      1. The Customer Value Journey
      2. Life Cycle Marketing Strategies
    4. Chapter 8: Play Four: Predict Customer Value and Value-Based Marketing
      1. Value-Based Marketing
    5. Chapter 9: Play Five: Predict Likelihood to Buy or Engage to Rank Customers
      1. Likelihood to Buy Predictions
      2. Likelihood to Engage Models
    6. Chapter 10: Play Six: Predict Individual Recommendations for Each Customer
      1. Choosing the Right Customer or Segment
      2. Understanding Customer Context
      3. Content—What to Recommend
      4. Beyond Recommendations
    7. Chapter 11: Play Seven: Launch Predictive Programs to Convert More Customers
      1. Predictive Remarketing Campaigns
      2. Using Look-Alike Targeting
    8. Chapter 12: Play Eight: Launch Predictive Programs to Grow Customer Value
      1. The Secret to Growing Customer Value
      2. Predictive Post-Purchase Programs
      3. Customer Appreciation Campaigns
    9. Chapter 13: Play Nine: Launch Predictive Programs to Retain More Customers
      1. Understanding Your Retention Rate
      2. The Concept of Negative Churn
      3. Understanding Your Business Model
      4. Not All Churn Is Created Equal
      5. Churn Management Programs
      6. Proactive Retention Management
      7. Customer Reactivation Campaigns
  7. Part 3: How to Become a True Predictive Marketing Ninja
    1. Chapter 14: An Easy-to-Use Checklist of Predictive Marketing Capabilities
      1. Organizational Capabilities for Predictive Marketing
      2. Technical Capabilities for Predictive Marketing
      3. Questions to Ask Predictive Marketing Vendors
    2. Chapter 15: An Overview of Predictive (and Related) Marketing Technology
      1. Do-It-Yourself Predictive Marketing
      2. Outsourcing to Marketing Service Providers
      3. Campaign Management and Marketing Cloud Options
      4. Other Tools You May Have Heard About
      5. Which Solution Is Right for Me?
      6. Whatever You Do—Get Started
    3. Chapter 16: Career Advice for Aspiring Predictive Marketers
      1. Business Understanding Trumps Math
      2. Ask the Right Questions
      3. Blend the Art and Science of Marketing
      4. Learn from Others
    4. Chapter 17: Privacy and the Difference Between Delightful and Invasive
      1. Types of Personal Information
      2. Avoid Invasive Situations
      3. Give Customers Control
      4. Hard Boundaries and Government Legislation
    5. Chapter 18: The Future of Predictive Marketing
      1. Advanced Predictive Analytics Models
      2. Think Like a Predictive Marketer
  8. Appendix: Overview of Customer Data Types
    1. Purchases and Transactions
    2. Web and Online Behavior
    3. Email Behavior
    4. Household and Account Grouping
    5. Location
    6. Call Center Interactions, Meetings, and Social Interactions
    7. Returns, Complaints, and Reviews
    8. Gender
    9. U.S. Census Data
    10. Vertical and Size
    11. Other Customer Data Points
      1. Index
  9. End User License Agreement