Episode 17
Leveraging AI for Predictive Analytics in Marketing
In this episode of Better Marketing, Marketing Magic in Minutes, we explore how predictive analytics is the name of the game today, and trust me, it’s a total game changer for marketing.
We’re diving deep into how you can use AI to forecast customer behaviour and spot trends like a pro. Forget the days when only the big dogs had access to this kind of insight; now, even small businesses can get in on the action. We’ll chat about how using data smartly can help you make decisions with confidence and ditch the guesswork.
Additionally, I’ll include some valuable tips on maintaining clean and ethical data, as it’s essential to prioritise customer privacy.
Transcript
Foreign hi, I'm Tracy Heatley and thank you for tuning in to this episode of Better Marketing, Marketing Magic in minutes.
Speaker A:Today we're diving into a powerful area of AI marketing, predictive analytics.
Speaker A:If you've been following along with any of my recent episodes, you'll know that we've been exploring AI and how it can support your marketing.
Speaker A:And this one's a little bit of a game changer.
Speaker A:So let's get stuck right into it now.
Speaker A:So let's get stuck in, right?
Speaker A:Let's get stuck in.
Speaker A:First of all, what is predictive analytics?
Speaker A:Put simply, predictive analytics is about using data.
Speaker A:It's about using patterns and AI tools to make educated guesses about what might happen next.
Speaker A:This could mean things like forecasting customer behavior, anticipating seasonal sales trends, spotting when a customer might leave, perhaps, or even predicting how well a campaign will perform.
Speaker A:All really useful information for planning your future marketing, but also analyzing customer behavior and just recognizing certain patterns.
Speaker A:In the past, things of this scale could have been just for big brands, but not anymore.
Speaker A:Tools are becoming even more accessible all the time for small businesses so that you can make the most of this approach.
Speaker A:You why this matters for small businesses?
Speaker A:Why does it matter when I'm mentoring clients or supporting marketing teams?
Speaker A:One of the biggest challenges I see is knowing where to focus your marketing efforts.
Speaker A:Predicting predictive analytics helps give you clarity.
Speaker A:Imagine being able to do things like identify your hottest leads before you've reached out to them.
Speaker A:Adjust your pricing or offer based Adjust your pricing or offers based on expected demand.
Speaker A:Focus your time on channels that are likely to perform best.
Speaker A:There's never a hundred percent guarantee on this, but if you can predict using analytics, what are the best approaches, Sometimes even times, dates, seasons, whatever it is with those certain behaviours and patterns, if you can predict them, it removes a lot of the guesswork and it lets you make decisions with confidence.
Speaker A:So let's look at using AI to power your insights.
Speaker A:AI is brilliant at sifting through mountains of data and spotting patterns we'd never notice on our own.
Speaker A:Or perhaps it would take an enormous amount of time or even manpower to recognize those patterns.
Speaker A:When integrated with tools like your CRM, email marketing software, e commerce platforms, or even Google Analytics 4.
Speaker A:It can spot trends, it can flag up opportunities, and it can really help you to fine tune your marketing in terms of timing and content.
Speaker A:I often talk to clients that I'm training about AI, about feeding it the right information.
Speaker A:There's actually a full blog on my website called the Importance of training your AI, which I really Recommend having a look at if you've not already read this.
Speaker A:The tools that can help you don't need to be too complicated.
Speaker A:You don't need to be a data scientist to get started with this.
Speaker A:Some tools you might already be using have predictive features already built into them.
Speaker A:So for example HubSpot, Mailchimp.
Speaker A:If you're using that for your newsletters and email marketing, they send you time suggestions.
Speaker A:For example, Google Analytics 4 is really good for predictive audiences.
Speaker A:Shopify and WooCommerce.
Speaker A:Those are really good at sales predictions or even ChatGPT to help spot certain patterns.
Speaker A:The key is to treat your AI like it's your assistant, not your boss.
Speaker A:Let it inform your decisions, but not make them for you.
Speaker A:It's that old adage that I keep talking about about not relying on it 100%.
Speaker A:Still have to check things, but it can really help with those patterns.
Speaker A:It can help massively with predictive analytics.
Speaker A:Now let's look at data accuracy and ethical considerations.
Speaker A:Now here's the part that is really important.
Speaker A:The predictions you get are only as good as the data that you put in.
Speaker A:So make sure that your data is clean, make sure it's current and importantly, make sure it's collected ethically.
Speaker A:And speaking of ethics, don't forget about the laws around this too.
Speaker A:Depending on where you are based.
Speaker A:If you're here in the uk, which is where I'm based, you need to consider GDPR or the CCPA if you're in California.
Speaker A:But the point is be transparent, be responsible and always protect customer privacy.
Speaker A:Yes, I am banging my AI ethics drum again, but it's really important.
Speaker A:And also go back to that earlier episode if you want to know more about the ethics.
Speaker A:Because it's not just about where you're based, it's about where your customers are based as well.
Speaker A:So there's more information on there about that.
Speaker A:This is something I covered in a lot more detail, but it's still important here that if you're just focusing on predictive analytics or this is the only episode that you've listened to until now, go back and have another little listen to that.
Speaker A:But it is important to cover those ethical issues in this episode as well.
Speaker A:Also, also always remember if you're in a professional Also always remember if you're in a profession where giving advice is regulated like some of my professional services clients, AI predictions may not always be appropriate.
Speaker A:You must stick to your own sector as rules and avoid relying on AI for anything that could be classed as official advice, for example.
Speaker A:So if you're in a regulated industry like professional services.
Speaker A:Just make sure that you're compliant.
Speaker A:I'm sure you will, but I think it's important that I mention that.
Speaker A:So my final thoughts on this Predictive analytics can help you stay one step ahead.
Speaker A:It can reduce the guesswork, it can make smarter marketing decisions or help you make smarter.
Speaker A:So my final thoughts are that predictive analytics can help you, it can assist you, it can help you to stay one step ahead, it can help you reduce guesswork, it can help you to make some smarter marketing decisions, and it can help you to make smarter marketing decisions.
Speaker A:It's not about being a tech expert, it's absolutely not.
Speaker A:It's about using the tools to your advantage so you can grow, so that you can have a little bit more certainty and I suppose less stress as well.
Speaker A:If you're interested about learning more about any of this to do with predictive analytics, you want to explore it in a little bit more detail and how it could work for your business.
Speaker A:Feel free to book a free discovery call with me on my website or you can check out my mentoring and training and my marketing consultancy options.
Speaker A:I am a certified AI Marketing specialist as well and I'm a chartered marketer, so you'll be in good hands if for now you just want a little bit more information.
Speaker A:There is a free guide on my website called A Small Business Owner's Roadmap to a Better Strategy.
Speaker A:If you want to enter my podcast competition where you might win a free power hour with me.
Speaker A:It's an online power hour session so it doesn't matter where you are in the world.
Speaker A:To enter, all you do is go to my website, which is TracyHeatley.com after a few seconds or if you visit the Strategy Cycle programme page, a form will come up rather for you to fill in.
Speaker A: ke sure you quote the code POD: Speaker A:I'm scheduled to do this month's competition on the 30th of June and then I'll be doing one a month thereafter.
Speaker A:So next time I'm gonna veer away from AI a little bit.
Speaker A:We're gonna step a little bit away from AI and the digital realms and I'm going to be focusing on the full episode to do with mindset and the magic of a marketing mindset and trust me, you won't want to miss one.
Speaker A:There would definitely, trust me, you won't want to miss this one.
Speaker A:There will definitely be aspects of that that you can relate to.
Speaker A:And I'm going to give you some top tips on managing that marketing mindset because it's really important, especially if you are a service provider and actually it's yourself that you marketing rather than a product.
Speaker A:So you tune in for that.
Speaker A:And until then, if I can be of help with anything to do with your marketing and your AI, do get in touch with me via my website, which is Tracey Heatley.com and always remember, better marketing means better business.
