How to Evaluate Predictive Analytics for Your Business

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You Have Too Many Inbound Leads

A common challenge facing most marketing teams is identifying leads that are the most likely to convert. In fact, according to SiriusDecisions, only 30 percent of "marketing qualified leads" turn into "sales qualified leads." This low confidence in the correlation between lead qualification and the actual likelihood of a lead to buy can result in a lot of wasted time for most sales teams. However, marketers can use predictive technology to better score and grade inbound leads and prioritize the best ones for sales. With predictive prioritization, any marketer with existing records in their CRM or marketing automation system can uncover and act on hidden opportunities.

Tip: When evaluating a predictive vendor to help prioritize leads, consult analyst firms like SiriusDecisions, Forrester, and Gartner to hear what the experts are saying about using different predictive solutions.

Marketing and sales teams are increasingly held accountable for bringing high volumes of qualified leads and converting them to customers. But with the customer ecosystem becoming more and more competitive, this task is proving to be a challenge for most businesses today. Luckily, advancements to marketing technology are making it easier to identify and target the best prospects in an efficient manner. The latest technology transformation taking place in the world of marketing? Predictive analytics.

Predictive analytics uses past data to forecast outcomes and target the right prospects – a move that's redefining the use of data and insights in marketing. Predictive technology also provides a more efficient process for sales and marketing to identify new markets, prioritize inbound leads, and deploy net-new prospects, which has a major impact on the bottom line for businesses. In fact, recent data from Demand Metric and Radius found that companies that applied predictive technology to demand generation goals met objectives 55 percent of the time, compared to 30 percent for companies not using analytics. While marketing and sales teams are becoming more aware of the business benefits that come with predictive, many still struggle to know when to implement predictive technology and how to determine if it's the right investment for their organization. Predictive technology company Radius offers five key areas to focus on when evaluating predictive analytics.


Related Topics : Vulnerabilities and Patches, Resellers, Broadcom, Broadband Services, Supercomputing

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