Machine Learning can bring many benefits to your business but how do you get started with implementing Machine Learning within your business?
Define your business objectives:
In order to help you define your business problems and objectives we begin by working with you to understand your current marketing processes, data and marketing automation situation. With that we also seek to understand how improving personalisation can help your business.
Our first step is to work with you on a single data set to understand from the data any insights and opportunities around that problem. This stage is based on developing a simple Machine Learning model and identifying where Machine Learning could fit into and augment your existing data and marketing automation processes.
Our second step is to prove the power of Machine Learning analytics by using dynamic modelling. Dynamic modelling is a model capable of learning from responses and unlocking insights from that based on the opportunity that we have identified.
Rapid Test and Learn Approach:
Following on from here, we design a rapid test and learn approach investigating a number of hypotheses to validate and observe conversion rates.
The next step is to connect into your existing systems and build a predictive model showing how your existing customers and potential customers will respond to your offers in the future.
Operationalise the model:
We then clip onto your existing CRM and CMS systems to trial and publish offers and train the model. Machine Learning uses algorithms to interrogate and learn from the data to prove out the hypotheses. Once proved, decisions around where and how to scale the model within the business can be made. We then add additional data sets, scale out and integrate the model within your existing platforms.
Machine Learning doesn’t work on a predefined target segment model. It works on an outcome model meaning that it looks for the customers with the highest conversion likelihood at the lowest possible cost. It goes into the database to find your highest converting customers, ranks them and selects the best marketing channel and offer that has the highest chance of success for your individual customers. We then use Machine Learning system generated targeting to create personalised offers/services to your highest converting customers
The response data and Feedback Loop is crucial to Machine Learning-driven predictive marketing. We capture each individual’s response to the marketing campaign, be it positive or negative, in order to further refine the targeting of your customers. As the process repeats, our Machine Learning solutions continually learn about your customers and how to better target them in order to maximise the number of successful conversions.
Choose Quantiful: Predictive marketing for any business size and budget