Good news, bad news
Computers are great. They help us collect larger mountains of data that we think are important to advertising success than any time in the past. “What about this…” makes us cobble together more and more “important” data points that we think will make us smarter and richer. But every additional data point in the advertising machine is a potential monkey wrench in the gears of decision making, confounding our ability to make sense of the right things for advertising decisions.
What if the number of things you have to juggle in your head were few, and the quality of those things made it easy to make great advertising decisions, fast? How is it done? With predictive advertising, a slick and powerful application of predictive analytics.
- Predictive advertising models gobble those mountains of data and spit out a crisp picture of cross-channel opportunities. Call it campaign optimization on steroids.
- Over 60% of conventional marketers admit to having way too many data sources to make sense of it all.
- 80% of businesses conclude that predictive marketing is the way forward (Forrester).
Predictive advertising pros are pro-active
Predictive analytics intelligence applied to advertising sifts interest from multiple relationships and categories—far too many to juggle in the head. Take insurance and investment companies. Customers often panic when their kids get to college age and prematurely withdraw retirement savings to pay for it. Predictive advertising models can preemptively target customers with college age kids, advertising attractive, tax-savings loans on retirement savings. It all happens before the ill-fated panic cash outs happen, but while the proverbial iron is becoming hot. That’s a win-win for the company and the customer. It’s called asset and customer retention, critical success factors in that industry.
Predictive advertising makes intelligent connections and predictions about interest and buying behaviors. That’s right. It’s not just about guessing who may buy a widget just because they bought something similar in the past. Predictive advertising is MUCH more intelligent!
Predictive advertising is all about identifying the behaviors of like minded folks when presented with your wares. It narrows the target and predicts social, behavioral, and financial outcomes, giving you just a few amazingly valuable and crystal clear things to consider.
Nuts, bolts, and hand-me-downs
The tactical shift to predictive advertising is projecting exactly which customer segments with similar buying behaviors have the greatest chance of choosing yet another offering. With boodleAI’s predictive advertising models, you know ICPs (ideal customer profiles) and predictable buying behaviors. We use AI to uncover ultra-focused target customers instead of hiding it under too many conflicting choices. Is it reliable? As much so as that crescent wrench handed down to you from your great-grandfather.
Predictive advertising tames the beasts of big data and confused juggling of too many advertising decision variables.
Wannabe modelers, beware
“Don’t try this at home.” Gartner warns that predictive advertising is at a crossroads (Nov 2021 Garner Insights). As predictive analytics has become more hip, spawning more and more ads to grab your attention, exasperated victims have demanded more privacy and ways to opt out. The deafening barrage of complaints has produced legal intervention as the California Privacy Rights Act (CPRA), California Consumer Privacy Act (CCPA), and Europe’s General Data Protection Regulation (GDPR), HIPAA, and more, have become law.
Advertisers’ feet are held to the fire by the legal/financial consequences of breaching privacy. Personal data needs to be “anonymized.” The good news is that guidelines are available for publishers, advertisers, and software vendors to fully comply with privacy laws. You need rock-solid privacy compliance in your predictive advertising support, and boodleAI is at the top of the list.
Surely you are not in the 20% of pokey non-believers. For predictive advertising support, boodleAI is transparent on what data we collect, how personal information is used, what may be shared, what are the customer’s required opt out choices, with uncompromising adherence to letter of the laws.
Contact boodleAI to get moving on your transition to predictive advertising and raise your returns to the next level with brilliant media strategies that produce greater ROI. It doesn’t get much sweeter than this!
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