Tata AIG General Insurance Company - Insurer Innovation Award 2024
Use Predictive Marketing to Get a Competitive Edge in 2018
1. Use Predictive Marketing to Get a
Competitive Edge in 2018
Erin Peterson, VP Customer Experience, Mintigo
Lizzy Funk, Sr. Manager, Marketo
2. • We are recording this webinar and will be sending out
the slides / recording after the webinar concludes
• Have a question? Type it in the chat box and we’ll try to
answer it during the live webinar
• Posting to social?
• #mktgnation
• @marketo
• @mintigo
Housekeeping
4. • What is predictive marketing?
• Trends in 2018 for predictive marketing
• How to use predictive & AI in your campaigns
• Live Q&A
Agenda
5. • Predictive analytics is the use of information from
the past to make predictions about the future,
leveraging statistical algorithms, data science,
machine learning, and AI techniques
• Predictive marketing, fueled by predictive analytics,
allows us to guide or optimize marketing strategies
and tactics to predict which marketing actions have
high probability to succeed or fail
Predictive marketing explained
6. • Predictive marketing leverages the power of predictive
analytics to help you find your buyers faster and deliver
the right content, to the right audience, via the right
channel, at the right time.
Predictive marketing 101
Data
Internal &
External
Data
science &
AI to find
patterns
Predictions
7. • AI is the ability of a machine to automate human-like
learning and processes, specifically around decision
making, problem solving, and learning
• AI allows a machine to do things and get results without
being specifically programmed for that specific task
• Scale + speed + application
What about artificial intelligence (AI)?
9. • Predict buying propensity and prioritize leads
• Identify best audiences to target with Account Based
Marketing (ABM)
• Guide segmentation and persona building to
communication on a personal level…at scale
• Uncover cross-sell and upsell opportunities
• Enable sales with intelligence (the best sellers are
helpers)
What can predictive do for you?
10. Myth
• Predictive is only for large and mature
enterprise companies
• It is very time and resource-intensive to
implement
• Models are based on machine guesswork and
therefore can be inaccurate
• Before starting, you need a large quantity of
very clean data
Fact
• Small to mid-sized companies can, and are,
rapidly adopting predictive marketing
• The time-to-value for predictive can be
relatively short compared with other
technologies
• Models is based on complex algorithms
rooted in data science and machine learning
to increase accuracy
• Modern solutions can work with smaller data
sets and models can be tuned over time
Dispelling the myths of predictive
13. • ABM begins with A, so
starting with the right list is
critical
• Ideal customer profile (ICP)
≠ only firmographics and
behaviors
• Deliver intimate experiences
to your audience at scale
• Everyone loves a helper
Account-based marketing + predictive
Identifying
the right
accounts
Choosing the
best personas
to target
Tailor
messaging
across
accounts /
personas
Align across
functions
(sales &
marketing)
Campaign
execution and
measurement
14. 3 steps:
1. Mine, gather, and analyze
first- and third-party data
2. Make algorithmic
predictions driven by AI
3. Leverage prioritized target
accounts and the details you
know about them to engage
How does predictive marketing help
identify and target the right accounts?
15. TOFU (generating
awareness)
MOFU
(generating
interest)
BOFU
(generating
revenue)
What are some examples of campaigns
where predictive is used?
• TOFU:
• Digital ad campaigns to top ranked accounts
with content based on industry / company
size / etc..
• MOFU:
• Multi-channel nurture campaigns based on
intent / interest
• BOFU:
• Helping sales prioritize accounts to target
with greater close rates
• Field events in regions with top accounts to
increase engagement
• Customers:
• Product specific campaigns based on
predictive product interestCustomers
16. Success: funnel conversion improvement
A&B convert 97% higher from SQLà contracted
AB: MEL à Contracted = 9.6%
CD: MEL à Contracted = 4.0%
A&B convert 137% higher and
generate 90% of new revenue
17. Success: account-based marketing (ABM)
AQL (MAP Scoring) to Won
2016 = 2x Higher Close Rate
2017 = 3x Higher Close Rate
TAL (BDR Qualification) to TQL
2016 = 76% Higher Conversion
2017 = 88% Higher Conversion
2017 Average Sales Price (ASP)
82% Higher ASP
18. Success: SEM optimization
Baseline
Spend $4.0M
Revenue $10.2M
Results 79% ROI
With Mintigo
$4.0M
$14.8M
159% ROI
45% increase
Mintigo
cDNA
Real time bidding optimized
by hits and fit drives bidding
to higher-value keywords
Data
Warehouse
19. Success: calling campaign
%
2,347%
Call à Opp
12,387%
Opp $ Value / Call
235%
# Opp Created
402%
$ Opp Value
1,583%
Total $ Opp Created
Baseline Calls: 4,516
Predictive Calls: 613
20. Success: outbound prospecting
Meetings sourced by cold-calling
Mintigo A-ranked accounts
60%
Challenge:
Events and whitepapers are
primary source of meetings, but
$ and headcount capacity to
support more is unavailable
21. • Expose content gaps
• Make savvy investments with channel / campaign analysis
• Hone efficiency of SDR team by knowing who not to call
• Support product bundling strategy
• Increase alignment between sales and marketing
• Identify customers at risk of churn
What are some other unexpected benefits
of predictive marketing?
22. 1. Define your business problem
2. Identify the channels/experiences you want to improve
3. Prepare to measure success
4. Go!
How can marketers get started?