5 Crucial Ways in which you can use Marketo’s Predictive Audiences to your advantage
Wouldn’t it be awesome if you have a tool that can help you communicate with people who are most interested in purchasing from you? With this being the biggest challenge faced by marketers, Marketo Engage has come up with a feature that lets you communicate with the right audience.
So, what is this feature all about?
“Predictive Audiences” is available in the Prime and Ultimate packages. Alternatively, you can avail of it as an add-on for the Select package of Marketo Engage.
Now, let’s turn to how to use this feature.
Go to the Predictive Audiences page in the Admin area of Marketo Classic.
In order to activate it, check “Enable Predictive Audiences” and wait for 24 hours for all processes to finish setting up.
How Does Predictive Audiences Work?
If I talk about it broadly, it includes four main attributes, namely:
- Goal Tracking and Projected Registrations
- Insights based on AI/ML (This model depends on the data you have in your subscription. If you use a specific model more often, it will become more tuned to the specific subscription data and business.)
- Registration and Attendance Likelihood Values for prospects in an event program
- Predictive Filters
5 advantages of using the Predictive Audiences feature:
1. PA gives you the power to send out more personalized communications.
With the help of PA, you can send more personalized communications to your subscribers in real-time with the help of intelligence services. It facilitates better segmentation that will in turn let you create more relevant content for qualified prospects.
2. It allows you to invite the right people to the events.
Rather than relying on trial and error methods and assuming, you can use data and intelligence to reach out to the right people during events. Generally, in a traditional setup, you consider a previously created invite list or create a custom audience according to your marketing experience. You are not quite aware of how many people will actually attend the event. You just invest a great deal of money in the marketing efforts and hope for a huge footfall.
On the other hand, if you are using Predictive Audiences, you incorporate the principles of Artificial Intelligence by Adobe Sensei. You will be able to create a more qualified audience with the help of Likelihood to Register and Likelihood to Attend Predictive Filters. It will infuse more confidence to host the event and invite prospects or customers.
How does it work?
These features are already placed in the existing workflows. You just need to drag the Predictive Filters into the Smart Lists and Smart Campaigns, in addition to the audience segmentation triggers and filters offered by Marketo Engage. It helps you kill two birds with a single stone — Firstly, it lets you reduce the volume of sent communications, and secondly, it increases the conversion rate.
3. You can recreate the good performance of one campaign in the next one.
With the help of Predictive Audiences of Marketo, you can create lookalike audiences and recreate the success of one campaign into the other one. Based on this, you can create narrower audiences that would give you higher conversions.
Let me explain.
It is certainly possible that your events are a part of an ongoing campaign. Let’s say you are organizing a webinar to demonstrate your services or launch a new product. In such cases, rather than sifting through the attendees’ list and struggling to find similar preferences, you can use PA to create a lookalike audience according to a Smart List or Smart Campaign. Additionally, you can include another filter to find prospects matching the ones in an existing Smart List or Smart Campaign. Doing so will allow you to cut down on the time taken and make the marketing workflow more effective.
4. It lets you predict communication fatigue.
You can use PA to predict the likelihood of unsubscribes and reduce opt-outs by suppressing them. According to this information, you will be able to refrain from sending emails to people who are more likely to unsubscribe. It will mitigate the risk of losing a prospect forever.
Just use the Likelihood to Unsubscribe Predictive Filter to prepare your own list of such prospects so that you do not engage with them with any irrelevant content. It will allow you to keep them engaged by sending out the right communication at the right time without overwhelming or wearing them down.
4. You will get notified in case you are not able to achieve the goals.
In case you end up missing goals, you will receive notifications so that you can optimize your strategy with the recommendations. PA gives real-time checks about how you are progressing towards your goals. You can accordingly predict outcomes and offer intelligent recommendations. The beauty of this feature is that you will not have to be worried about the performance of your event and the number of people who will show up.
Take a look at this screenshot and see how AI enables the prediction for the event based on member-level registration and attendance predictions.
There was a time when people were scared of using such advanced solutions because of the exorbitant pricing and technicalities involved. However, with Marketo’s Predictive Audiences, you can get the ease of use without any steep learning curves.
You can easily hire Marketo certified experts who would take care of all these operations for you.