The results of a recent survey by MIT Technology Review in 2018 of 1,419 marketing executives from companies with more than $100 million in annual revenue, from various industries, including financial services, retail, technology, and education reveal:
These marketing experts are twice as likely as laggards to agree that using machine learning in media campaigns has improved worst-performing ROIs by 10 percent or more.
These marketing leaders are committed to using data to predict and learn to identify consumers who appear likely to become high-value customers.
2/3rds of leaders say that how they apply their data will play a key role in their ability to survive and grow.
60% believe the marketing team should own a data-driven customer strategy that supports all organizational stakeholders.
Using machine-learning marketers can identify and mix the right message, on the right device at the right time that will likely lead to a successful business outcome.
They’re no longer interested in investing marketing dollars based on geography and product line.
Instead use them to contact people most likely to be receptive to a new product offering.
How do you accomplish that?
73% of these marketing leaders invest in machine-learning for strategic insight generation. By identifying patterns and creating predictive models marketers are mapping the customer journey.
53% use machine learning processes data signals to help marketers better detect consumer intent and create the conversations that lead to substantial business growth.
These marketing leaders are using machine-learning to accurately anticipate their potential customers’ next moves, capturing and even shaping what they want and need.
By using machine learning to compare historical data about a company’s highest value customers and comparing that to newcomers who show similar pre-purchase behavior companies can predict future buying behavior.
To quote MIT, “The ability to collect, organize, and analyze data from multiple sources enables marketers to pinpoint how close customers are to a buying decision, shaping messages that are relevant rather than intrusive. Modern consumers, whose expectations of what they can buy when namely, anything and right now prefer doing business with companies that understand and assist them.”