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Both small and large businesses need to refine their lead generation strategies to improve conversion rates. Generating quality leads but failing to convert them will leave your company struggling to hit its sales objectives.
To attract qualified leads that are likely to purchase, it is crucial to have pertinent data on the lead’s demographics and presumed behavior to understand where they are in the sales funnel. You can get this critical information from predictive analytics.
Here’s an overview of how predictive analytics can help you get maximum value from your lead marketing campaigns:
Improve The Average Value Of Your Leads Through Predictive Analytics
The average website conversion rate varies from industry to industry. However, why settle for average when you have a better conversion rate and extract more value from your leads with the same marketing effort?
To increase lead conversion rates, you need to check two things:
- The quality of your leads
- The effectiveness of your marketing campaigns
Sophisticated predictive analytics tools can help you optimize these two elements for a better return on your investment (ROI).
When you search for tools to guide your predictive lead generation campaign, you should always consider what type of data you are looking for to optimize your campaigns to the best of your ability.
For example, Phonexa’s predictive analytics tool provides users with probable outcomes for your marketing initiatives for digital calls and web leads alike.
With it, you can better optimize your resources and spending, understand your consumer behavior, design your growth strategy, and customize your own waves fields depending on the lead’s demographic.
Schedule a consultation if you would like to learn which of Phonexa’s all-in-one tools for marketing automation can back the predictive analytics of your call and web campaigns.
Identify Your Ideal Audience Through Predictive Analytics
Making sense of the data generated by consumers as they interact at various phases of your marketing funnel is critical for your business’s success.
Every interaction, be it on social media sites, email, your website, through phone calls, and so on, can be aggregative and modeled upon to determine how well your business is doing and what to expect in the future.
Predictive analytics can sort out the data, helping you uncover opportunities that may not be obvious to your marketing department. For example, you can gather insights such as common behavioral patterns across particular customers, the response of your demographics towards particular marketing campaigns, rising or falling industry trends, and many more.
The information you derive from analytics data can be modeled to help uncover events such as a seasonal increase in demand for your products and the average dollar spend across customers from particular demographics.
With this information, you can set up your business operations to address expected challenges and derive more value from your leads through data-backed product offerings.
Improve Lead Scoring Models With Lead Generation Analytics
All leads are not the same; some are easier to convert than others.
Businesses can plug predictive analytics into their lead scoring models to identify various aspects of their marketing funnels that can be altered to improve conversion rates and grow revenues.
Predictive analytics tools can help predict customers’ behavior and identify how specific demographics are more likely to engage with your products. This information can be passed to the sales and marketing teams to be incorporated into lead generation campaigns to get higher-quality leads.
High-quality leads will then turn into high-intent clients, who will be committed and always interested in the newest innovations you’re putting out.
Are you ready to increase the ROI of your lead generation campaigns? Phonexa offers a scalable, all-in-one solution that delivers the insights you need.
Reach out and schedule a consultation to see how predictive analytics can increase your lead gen revenue.