Building predictive data models in retail
Harvey Sarjant of Sirdata explains the 5 steps to Predicting Purchase Intent
The key to converting potential customers to actual customers requires ensuring your marketing messages reach them when they are ready to buy your product or service. Sirdata’s Harvey Sarjant reveals the route to using your customer data more intelligently to reach your audience in the right place at the right time.
The secret to successful marketing is mapping out the customer journey to identify the point at which people or businesses are ready to buy and then making sure you reach them at this stage. Whilst organisations are getting better at targeting the right audience, few are actually hitting them at the right moment, which wastes valuable marketing time and budget.
The five ways to hone your campaigns on purchase intent through using data more intelligently are :
- Define a clear goal
- Think like your customers
- Collect the necessary data
- Build predictive data models
- Test your model
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