Crowdsourcing technology internet concept and crowdfunding financial symbol as a group of human heads made of machine gears supporting a new business venture with social networking funding cooperation resulting in an upwards arrow for success.

By now, you realize that a personalized approach to your mobile marketing is necessary. Instead of blasting everyone with the same communications, you understand that people will respond in individual ways. But once you know what is of interest to a customer or prospect, the work really just begins.

How often should I market to an individual? Does he or she need a reminder every so often? Will a purchase come without additional outreach? If he or she likes a particular item, what else might they like?

An increasingly important tool to help answer these questions and others is predictive analytics, which is a critical element in Genie’s offering.

Predictive analytics encompasses a variety of statistical techniques from modeling, machine learning, and data mining that analyze current and historical facts to make predictions about future, or otherwise unknown, events (Wikipedia).

“Customers are vastly different from each other and it’s the variations across that base that’s the source of great value if you can use data in the right way,” Dr. Peter Fader, professor of marketing and co-founder of the Customer Analytics Initiative at Wharton University of Pennsylvania, told cmo.com.

“If we can figure out the most valuable customers from a future standpoint, not historical value or profitability, come up with ways to enhance that value, …then use that understanding to find more customers like them, we can potentially make far more profits than the typical ‘one-size-fits-all’ approach that comes from trying to boost overall satisfaction ratings and keeping them all happy.”“In marketing, it’s obvious – if we knew the value of customers, we’d understand what we should pay for customer acquisition, who to give special discounts to, and which ones to ignore.”

Genie’s predictive analytics are the best in the industry. It determines the next best offer by dynamically evaluating the combined weights of multiple first party data feeds simultaneously. Then Genie uses machine learning to improve its predictive algorithms using real life data.

 

Concept of shopping and cloud computing.

Genie delivers highly individualized mobile experiences, messages, advertisements and offers across multiple digital channels empowering retailers to deliver the optimal message on the optimal channel at the optimal time.

98% of the most seasoned marketers surveyed by EverString say that they are either fully committed to deploying predictive marketing or are currently implementing it in some capacity.That will likely be viewed as good news by marketing guru Seth Godin, who wrote on his blog, that it’s a marketer’s job to cater to individual needs.

“Personalization wasn’t supposed to be a cleverly veiled way to chase prospects around the web, showing them the same spammy ad for the same lame stuff as everyone else see,” ”…it is a chance to differentiate at a human scale, to use behavior as the most important clue about what people want and more important, what they need.”

The importance to a business cannot be underestimated. Just look at Amazon. According to McKinsey, the online retailer’s recommendations engine accounts for roughly 30 percent of the company’s annual sales of approximately $89 billion.

That makes sense to us.

 

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