I have a prediction to make. If you’re not using predictive technologies in your B2B marketing practice, you will be…soon. According to a recent Marketo study, nearly 70% of U.S. marketers said they plan to use predictive technology in 2017. The marketplace seems to bear this out.
And it’s no wonder why, a separate study conducted by Forrester research entitled, “From Insight to Action: How Predictive Analytics Improve B2B Marketing Outcomes,” concluded that B2B marketers who use predictive analytics consistently outperform their counterparts who do not.
Be a Marketing Hero
The Forrester study found that predictive analytics users are twice as likely to outperform non-users in three crucial business metrics:
- Exceeding revenue growth target
- Exceeding marketing goals for revenue contribution
- Commanding a higher market share than competitors
Sounds too good to be true? Consider this. If a B2B marketer comes through on these metrics, the executive suite would hoist her on their shoulders and parade her through the office—and perhaps even pad her year-end bonus.
While this may sound like a dream, the Forrester study lays out why it’s more than just fantasy. Of those marketers using predictive, 86% of them agree that predictive analytics help them identify and address new market opportunities, overcoming a top challenge of B2B marketers everywhere.
The Right Time for Predictive Analytics
Indicating a confluence of B2B marketing ideas, the Forrester study compliments SiriusDecisions new demand waterfall that marks two new categories (Target Demand and Active Demand) that occur before a prospect self-identifies. It reveals that a whopping 89% of marketers see value in using predictive analytics to identify and qualify new opportunities.
In other words, predictive analytics is essential to today’s B2B marketing. After all, as CEB/Gartner research indicates, the average B2B buyer is 57% of the way through the buying process before engaging with a vendor. Clearly, you need to get in front of them at those early stages, especially in their research phase. Drop the ball there and you might as well be invisible.
Don’t just take my word for it. The Forrester study underlines the power of predictive with one crucial finding. Fully 86% of B2B marketers claim that predictive analytics have had “very high” or “considerable” impact on their business.
With only 2% of marketers claiming that they’re not interested in predictive and those who aren’t currently employing it eager to ramp up, we can anticipate where the market is heading. One thing is certain, you do not want to be left behind.
If you want to know more about how you can get in front of your prospective audience before they self-identify, download our white paper,.