Finding customers with “Predictive Analytics to go”

An ongoing project at Adolf Würth GmbH & Co. KG shows that Predictive Analytics can enable mobile sales planning. Using a location-based service, field sales personnel can locate new customers in close proximity to wherever they may be.

At the end of 2015, there were more than one million craft trade businesses in Germany, including many potential new customers for Adolf Würth GmbH & Co.KG. With predictive analytics available on their smartphones, the company’s 3,000 salespeople can locate promising businesses “just around the corner”.

Predictive Lead Generation: Faster and better results with Target Group Predict

The fuller their order books, the more reluctant companies are to pay attention to new customer acquisition. As stated by sales trainer Ingo Vogel at the end of last year in Computerwoche, this can lead to serious consequences. He advises on new customer acquisition – and we reveal how to find the right customers.

From Predictive Analytics to Predictive Marketing

According to its publisher, Ömer Artun and Dominique Levin’s Predictive Marketing represents a “practical guide to predictive analytics”. Recently, Hubspot’s Blog submitted a comprehensive extract from the book.

The question as to which consumers will be the next to make a purchase can best be answered by a probability prediction based on Big Data Analytics. Ömer Artun and Dominique Levin, authors of the book “Predictive Marketing: Easy Ways Every Marketer Can Use Customer Analytics and Big Data“, show that predictive analytics pays off.

Take their example of an online pharmacy for animals: By determining his promotion activities on the basis of customer value, the online supplier succeeded in raising his sales by 40 percent compared to the previous year. The response rate doubled without having to increase his marketing budget.

Share of Wallet: Predictions that open purses

How can businesses boost their turnover with their existing customer base? The “share of wallet” concept is a good point of reference, defining itself as a company’s own share of a specific customer’s turnover in relation to competitors’ shares, whereby this indicator can be predicted with the Target Group Predict algorithm.

One of the main problems in managing sales and marketing is the fact that businesses don’t understand their real customer potential.