informationoverload
Image courtesy of Eilidhmcauley through Wikimedia Commons License

From Overload to Overlord with Versium Predict

If you’re like many marketing professionals, it’s a struggle to get any actionable insights from your data. The sheer volume of incoming data can be overwhelming, and trying to extract all of the value, or even the key insights, from that data can be a monumental task.

In the past, your options were to:

  • Hire data scientists. Get professional data analysts to pore over your data and come back with answers. This approach can be expensive and daunting, take weeks or even months, and sometimes still come back with dubious results.
  • Trust your gut, with results that can be even more dubious.
  • Wait and see what happens, and then react, leaving you competing with everyone else who’s taken the wait-and-see approach.

Traditionally, Customer Relationship Management (CRM) has been a largely passive, reactive workflow. With the alternatives being spending money and time either on data scientists, or on a hunch, being reactive is the least risky approach. Versium set out to transform sales and marketing CRM, and it has—minimizing the risk, and allowing you to proactively run intelligent sales and marketing campaigns. Versium created Predict to address this struggle head-on, and it places on-demand, push-button predictive behavioral targeting straight into the hands of front-line sales and marketing teams.

Know your customers

Predict gives you the ability to model customer behaviors in hours. The process is friendly, automated, and doesn’t require data scientists, so you can easily test multiple outcomes. Know in advance:

  • Which leads are most likely to buy your product, subscribe to your newsletter, or convert to a customer in other ways.
  • Which leads will likely never buy, no matter how much you sweeten the deal.

This deep behavioral knowledge gives you the power to optimize the customer experience: targeting customers who want to hear from you, and not targeting those who don’t.

Predicted conversion rates by score

When you use Predict, you leverage the power of machine learning-based models, and both business and consumer data, over 1 trillion LifeData® attributes, to get the industry’s most powerful predictive lead scoring models. Customers that use these predictive scores are seeing increases in:

  • Conversion rates—Up as much as 250 to 350 percent
  • Per-unit order value—Up as high as 50 percent in some cases

Predictive, proactive marketing helps you not only acquire more customers but also better customers.

Now, you’re the Data Overlord!

So what does it look like to be a Data Overlord? Will you have to change your workflow, or will no-one notice as you wield your almost-magical powers of prediction? Luckily, you don’t need a cape or any data-juggling superpowers, and your workflow won’t change much—only your results will be positively uncanny.

Versium Predict wizards walk you through the process. Here’s how to easily predict how customers are likely to respond to a marketing campaign or sales pitch:

  1. Build a predictive model for the customer behavior you want. This only requires those marketing lists you already have, and a few hours. Predict automatically does all of the work behind the scenes. You push the button, and we notify you when it’s done.
  2. Use the model to predict customer behavior:
    • Score leads on your marketing lists for how likely they are to have that behavior
    • Generate new marketing lists of leads that are highly likely to respond.
  3. Target your marketing campaigns to high-scoring leads.

That’s it! Better results without the pain, without the uncertainty, and without a single data scientist.

Walk through an Example Free Trial Subscription Email Campaign

So, let’s look at an example of how this might work in a sample campaign workflow.

The question

Let’s say your question is: if you offer a free trial subscription for your service, which customers are most likely to convert to paying customers once the trial is over.

The data you already have

You ran an email campaign last quarter that offered leads a month’s free trial for your service. From this campaign, you have two marketing lists with leads who were part of this email campaign:

  1. List of leads who signed up for a free trial and then subscribed to your service
  2. List of leads who didn’t sign up for the free trial, or who signed up, but then canceled before the free trial ended.

Generate a Predictive Model

The first thing you need to do is generate a model that can predict which leads are most likely to subscribe if offered a free trial.

Step 1: In Predict, start the Model Builder wizard, upload the two marketing lists above, and then click Build Model.

Step 2: Relax, while Predict enhances the data on your lists with information from our extensive database, then analyzes the characteristics of leads who subscribed vs. those who didn’t. A few hours later, you get an email telling you your predictive model, “Subscribers” is complete.

Find Customers who are Likely to Subscribe after a Free Trial

You have a marketing list of leads for a new free trial campaign, and you want to know who is likely to sign up and subscribe. You also may want to find new leads for your campaign.Scored leads

Step 3: Start the Score Leads wizard, upload your list of new leads, select the “Subscribers” predictive model, and then click Score Leads.

Step 4: Optionally, start the List Builder wizard, choose to generate a consumer list, select the “Subscribers” predictive model, and click Build List.

Step 5: Relax again, while Predict enhances and analyzes, and returns your list scored, plus a list of new leads who all scored highly for the desired behavior.

Target your New Campaign to Leads most likely to subscribe

You now want to generate a list for your campaign, from your existing leads, and the new ones found for you by Predict.

Step 6: Open your scored list, and using Predict’s score slider, quickly pinpoint which leads to target. Pick the score that gives you the desired balance between conversion rate and the number of leads. You might pick a score that allows you to target just half of the leads on your list, with a predicted triple conversion rate.

Step 7: Build your campaign marketing list from the high-scoring leads on your scored list and the new predictive list, and send out the free trial email.

Step 8: Relax, your Data Overlord duties complete. And smile, knowing you’ve just saved a ton of time and money, and this is going to be the best campaign ever.

For a walkthrough that takes less time than reading about how easy this is, watch the Versium Predict Walkthrough.

Get Started with Predictive Behavioral Targeting

Predict by Versium in AppsourceFor more information and to get started with on-demand predictive behavioral targeting, install Versium Predict today from the Microsoft Dynamics marketplace. In Appsource, choose the Analytics category, and find Predict by Versium. Click Get to install it in your CRM organization.

 

 

 

 

 

No-one needs to know you have an unfair advantage. They’ll just see your results and know you’re a superhero.

On-demand predictive targeting. Without all of that data science nonsense.

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