B2B Marketing SIG
Topic: How can predictive analytics help marketers optimize their marketing programs and budget?
Facilitator: Larry Porter, UC Center for Business Analytics
Predictive marketing is the practice of extracting information from customer and external datasets and applying mathematical and statistical techniques to determine a pattern and predict future outcomes and trends. A typical business-to-business (B2B) company now has a staggering amount of data available including customer data, web, email, campaign, third party data, industry, demographic, weather etc. The marketing department’s goal is to use that data to deliver better business results.
Predictive marketing is helping companies to evolve from a product or channel marketing strategy to a customer-centric strategy. Companies who use predictive marketing:
- Optimize customer lifetime value and share of wallet to drive profitability of the enterprise.
- Organize around the customer instead of around channels and product lines
- Use big data and predictive analytics to configure processes and organizations to find ways to customize interactions
- Develop more targeted communications—and the key metric is relevance, not reach.
- Use analytics to discover which products customers will want in the future.
This presentation will discuss ways that predictive analytics can be used to help marketers optimize their marketing programs and marketing spend.
Larry Porter has an MBA from Xavier University and is completing a Data Analytics Certificate at the University of Cincinnati. In the past, he has worked in senior marketing roles for small to medium sized B2B organizations. He currently works at the University of Cincinnati’s Center for Business Analytics where he develops and executes B2B marketing, communications, and web strategies, organizes analytics education classes for professionals, manages client analytics projects, runs the Midwest’s largest Analytics events, and recruits students to the MS Business Analytics and Information Systems programs in the Lindner College of Business.
About this SIG: Provides relevant and timely B2B resources, insights, and interaction to an ever-expanding group of attendees in a collegial, real-world, problem-solving environment. Meetings are held on the 3rd Thursday of the month.
PLEASE NOTE – This month’s SIG will be held in the 7th Floor Conference Room at OfficeKey.
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