The launch of a new marketing prediction utility could mean marketers throwing away their crystal balls when trying to understand how effective their marketing is.
That is the claim of cloud marketing firm Emarsys, which has launched its new Smart Metrics tool this week. It claims the new solution gives brands the ability to predict revenue, purchase and engagement patterns, making trials and experimenting with campaigns a thing of the past.
The product allows marketers to see, via a dashboard, when they are successfully engaging first-time buyers, which products are selling best and how much revenue is coming from those first-time buyers, repeat purchasers or customers that they have won back.
Emarsys claims this then enables marketers to be armed with the knowledge needed to ensure their next steps – such as an email campaign targeted towards customers at a particular lifecycle – are successful.
“Staring into a crystal ball and spending hours, if not days, analysing data from marketing trials is a thing of the past,” said Ohad Hecht, COO at Emarsys
“Businesses are given updated figures in real-time so they will be able to see the immediate effect of any changes they make. This means highly targeted, effective marketing programmes can then be conducted that result in more satisfied customers and more revenue.”
The product uses predictive modelling algorithms combined with historical data calculate conversion rates and details of the time lapsing between purchases so marketers can correctly estimate when to approach customers with offers and incentives.