A Forrester Consulting
Thought Leadership Paper
Commissioned By Rocket Fuel
August 2017
The Next Wave Of Digital
Marketing Is Predictive
Table Of Contents
Executive Summary
Anticipating Customers’ Wants
In The Shifting Digital Marketing
Paradigm
Marketers Face Digital Data
Roadblocks
Five Fundamentals To Achieve
Tailored 1-To-1 Interactions
Marketers See The Promise Of
Predictive Marketing
Work With Technology Vendors As
Partners
Key Recommendations
Appendix281215
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Project Director:
Tarun Avasthy,
Market Impact Consultant
Contributing Research:
Forrester’s B2B Marketing
Professionals Research
Executive Summary
It is imperative that today’s companies create compelling, differentiating
customer experiences through marketing. Predictive marketing changes
the game for marketers: it gives frms the ability to anticipate consumers’
needs and interests, and more importantly, their likely reactions to marketing
messages. The proliferation of digital devices raises an opportunity and a
threat for marketers: with more data than ever before, marketers can better
understand their customers and attempt to serve them more relevant,
tailored messages and suggestions. The fipside for many marketing
organizations today, is that they are now faced with more than they can
handle. Too much data emerging from too many data sources present
diffcult challenges to customer intelligence and marketing teams’ ability to
generate and act upon meaningful insights. Artifcial intelligence becomes
necessary to accelerate the loop from insights to execution. Without
it, marketers will struggle to achieve their objectives of delivering truly
personalized 1:1 marketing interactions in real-time. Artifcial intelligence
will drive innovation in marketing, by helping marketers move from post-
campaign optimization to a more predictive execution and optimization of
campaigns.
In February 2017, Rocket Fuel commissioned Forrester Consulting to explore
predictive marketing and AI themes to better inform marketers and agencies
about the benefts and challenges of its application. The survey covered
France, Germany, Italy, UK, US and Australia. The survey found the following
key fndings:
KEY FINDINGS
marketing. In this brave new world, marketers must take key steps
to build marketing capabilities that anticipate and address individual
customers’ needs and wants. Forrester recognizes this and ultimately
found that in order for marketers to succeed in the digital age and
overcome barriers, they must follow fve core fundamental principles for
success. The fve fundamentals are:
1. Customer recognition
2. Nonlinear customer journey
3. Real-time decision making
4. AI-based intelligent decision making
5. Using frst-party data over external data
processes. Not only does AI-driven marketing enable automation of
processes, it makes businesses smarter — fnding new insights that were
previously not humanly possible — and enables them to act on these
insights in real-time.
marketing. Navigating the complexity of predictive marketing and AI
solutions can be daunting for any organization in any industry. Few
organizations will manage to navigate the next era of predictive marketing
without any assistance; it’s therefore paramount to work with partners that
provide not only expertise but excellent customer services, too.
84% want to
achieve marketing
that learns and
optimizes from each
interaction with a
customer.
1|The Next Wave Of Digital Marketing Is Predictive
Anticipating Customers’ Wants In The
Shifting Digital Marketing Paradigm
We are in the age of the customer, an age in which the empowered
customer is compelling organizations to transform their marketing
and advertising strategies. Satisfying today’s demanding customers
forces organizations to continuously reinvent themselves to thoroughly
understand and serve these customers and remain competitive.
Why Customers want immediate responses and relevant messaging,
served in their channel of choice, when they interact with the brand. If
organizations don’t deliver on their brand promise, the customer will go
elsewhere.
But at the same time each of these interactions creates data on
customer behavior and interplay between devices. This gives marketers
the opportunity to collect, analyze, and, most importantly, predict how
to best engage with their customer with the next interaction.
PREDICTIVE MARKETING WILL POWER THE FUTURE OF DIGITAL
ADVERTISING
In the marketing world, digital advertising continues to rapidly evolve
to deliver cross-device experiences that are increasingly personalized.
Our study revealed that in order to meet constantly changing customer
demands, marketers must harness their data to predict what customers
want.
Predictive marketing helps organizations recognize their customers as
individuals, understand their needs, leverage their historical data, and
predict their intentions, to deliver content and suggestions tailored to
each customer — all in real-time. Our survey of marketers’ top priorities
for the next 12 months revealed three key initiatives (see Figure 1):
superior customer experiences. Marketers want to provide the
right customer with the right experience during every step of their
fragmented journey. How By using data and analytics (83%) that
reveal powerful customer insights. Marketers can then plan to grow
customer loyalty and lifetime value (80%) with marketing that learns
and optimizes from every interaction (84%).
85% of respondents agreed with the following:
Defnition: predictive marketing is the use of data
science, primarily driven by machine learning or
artifcial intelligence, to make smarter marketing
decisions by predicting which marketing actions
are more likely to succeed.
“Predictive marketing consists
of evaluating customer
patterns and assessing
historical behaviors. Our role
is to understand how we
can best assist customers to
fnd what they’re looking for
and how to make the most
of cross-sell opportunities.
Since its implementation a
year ago, we’ve increased
our customer base
signifcantly and reduced
churn —we’re stronger than
ever.”
Sales and marketing director
for a European technology
company
2|The Next Wave Of Digital Marketing Is Predictive
“Which of the following are likely to be your organization’s top marketing
initiatives over the next 12 months”
Figure 1
Base: 579 marketing decision makers responsible for the programmatic at their
organization with at least $250,000 media spend per year
Source: A commissioned study conducted by Forrester Consulting on behalf of Rocket
Fuel, April 2017
Strategy:
“What”
86% Improve our personalization
capabilities
Customer focusProcess improvements
86% Drive customer-centricity
84% Achieve marketing that learns
(and optimizes) from every interaction
with a customer
80% Increase customer loyalty and
lifetime value/Reduce customer churn
86% Leverage artiicial intelligence to
drive marketing decisions and actions
86% Optimize marketing across the
customer journey
83% Increase our use of data and
analytics (including marketing
measurement and customer insight)
81% Refresh or strengthen our
company’s brand
Marketing decision
makers described
predictive
marketing as the
ability to turn
insights into action
in the customer’s
moment of need
(64%) and make
assessments on the
customer to predict
and recommend
the best marketing
messages to show
the customer
(60%).
3|The Next Wave Of Digital Marketing Is Predictive
marketing. Putting customers at the center of strategic marketing
initiatives requires a different approach to collaboration. Marketers
who are strong at communicating and coordinating across marketing
functions and the rest of the frm (80%) also strengthen the brand’s
messaging (81%) due to clear, concise business objectives.
Marketers must coordinate their efforts across marketing functions or
risk delivering mixed messaging and brand experiences to customers
as they progress through their purchase journey — a top priority for
86% of marketers.
important instruments in the marketing toolbox is employees. As
the face of the brand, employees control and play a large part in the
customer’s experience. Deploying and supporting new technologies
while tackling the needs of the customer requires recruitment and
development of better talent and even enhances existing employees’
skills (85%) to become better predictive marketers. How It frees
up employees’ time to use their own creativity, to ensure that the
marketing function achieves the brand vision.
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