If you’ve already used your first-party data to create predictive models and gather insights (for ideas on ways to do this, see this blog post), your next step is to activate the information. For example, if you’ve calculated and predicted LTV, you might want to use that information to segment your audiences and build profiles about the customers that matter most. In this case, you can combine your site and CRM data and use statistical models (like K-means clustering) to segment your users based on LTV. That will help you identify your niche high-value audiences, making it easier for you to target and engage with them in a more personalized way.
Propensity models can also help you segment and prioritize your audiences in several helpful ways. Say you want to segment your users by their likelihood to convert. You can again use statistical models that score your users into categories like high, medium and low likelihoods. Once you have that information, you can customize your efforts within the Google Marketing Platform accordingly.
Google Cloud Projects to Consider
Here are a few examples of initiatives that you can take-on when you have the right access to your first-party data:
Using unsupervised ML techniques to build highly relevant audiences and push them directly into Google Analytics, you can improve ROAS and achieve your business goals.
Churn and Propensity Modeling
Optimize your campaigns by targeting audiences based on their predicted behavior — like propensity to convert, churn or unsubscribe — aligning marketing strategies with user-level behaviors.
Train a model using clickstream data in conjunction with your business goals and other data sources to make predictions about your users and improve your retention and upselling campaigns.
Reporting and Visualization
Using Google Data Studio or another visualization tool, you can design custom KPI reporting solutions to speed up your data analysis and transform it into actionable insights.
To learn more, download our guide, “Take Your First-Party Data Further with Google Cloud for Marketing.”