How marketers and their CRM agencies grow revenues with iota-ML…and how you can.
We bang on endlessly about McKinsey’s finding that companies gain 40% more revenue from personalisation marketing actions or tactics (vs. organisations that market on a generic profile basis).
But where does this money come from? We’ve outlined typical challenges & revenue opportunities open to marketers who adopt no-code data science (see image). They split into four categories:
- Not giving revenue away unnecessarily (for example, discounts to people who will buy anyway).
- Having the insights to create more personalised, persuasive marketing communications.
- Accessing and leveraging new insights faster than competitors… gaining market share.
- Being more efficient (process savings).
Of course, many organisations rely on their agencies to manage their data and CRM communications. There are enormous benefits for agencies that leverage data science driven by machine learning (listed in the image). However, many agencies already have traditional data science teams and may feel reluctant to adopt new tools that can reduce their billable hours. What should they do? The right things for their clients or risk client losses / in-housing.
Machine learning-driven data science doesn’t remove the need for data scientists. It simply frees them to focus on more complex business challenges, like machine learning data science, which frees marketing strategists to focus on strategy and planning.
So, be excited by the potential of ML & AI. Lean in. Early movers have the most to gain. Use these new tools to protect and grow your organisation.