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Targeted marketing relies on predictive analytics from "summary" of Predictive Analytics by Eric Siegel
Targeted marketing is a strategy that involves tailoring advertising and promotional efforts to specific groups of consumers, rather than taking a one-size-fits-all approach. This approach is fueled by predictive analytics, which is the practice of extracting information from data in order to predict future trends and behavior. By analyzing past customer behavior and other relevant data points, companies can make educated guesses about what products or services individual customers are likely to be interested in. Predictive analytics allows companies to segment their customer base into different groups based on shared characteristics or behaviors. This segmentation enables companies to create targeted marketing campaigns that are more likely to resonate with each group. For example, a company may use predictive analytics to identify a group of customers who are most likely to purchase a new product, and then tailor their marketing materials to appeal specifically to that group. In addition to helping companies identify the most promising customer segments, predictive analytics can also be used to optimize the timing and delivery of marketing messages. By analyzing data on when and how customers are most likely to engage with marketing materials, companies can ensure that their messages are delivered at the optimal time and through the most effective channels. This can help increase the likelihood that customers will respond positively to the marketing efforts.- Targeted marketing relies on predictive analytics to help companies make informed decisions about how to best reach and engage with their customers. By leveraging data and analytics, companies can create more personalized and effective marketing campaigns that are tailored to the specific needs and preferences of different customer segments. This approach can lead to higher engagement, increased sales, and ultimately, greater customer satisfaction.
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