In today’s AI in marketing customer-driven market ,complexities involved in decision making is increasing
every day. This includes understanding customer needs and desires and aligning products
to those needs and desires.
A handle on changing customer behavior is vital to make the best marketing decisions. Artificial intelligence is reshaping almost all the aspects of doing business, from finance to sales and R&D to operations but the most profound impact of AI is being witnessed in the field of marketing where not only it has already created great value but experts predict it is going to change the future of marketing massively.
AI marketing uses artificial intelligence and machine learning technologies to make decisions based on
data collection, data analysis and additional observations of trends that may impact
marketing efforts.
AI Marketing Solutions
AI marketing solutions optimize and streamline campaigns while eliminating risk for human
error.
AI Tools for Digital Marketing
Marketers can leverage AI to build marketing analytics techniques for targeting the
customers which are potential and create customized experiences for their customers.
For many of today’s marketers, AI is used to perform more tactical tasks that require less
human nuance and to augment marketing teams.
AI is able to conduct tactical data analysis faster than its human counterparts and come to fast conclusions based on campaign and customer context. It helps the team members of the organization, give time to focus on strategic initiatives that can then inform AI-enabled campaigns.
With the advent of AI and its growth at a high rate, marketers currently have to no longer wait until the end of a campaign to make the decisions, but they can make use of real-time analytics to make better media choices. In a multitude of use cases, AI is being used in marketing initiatives across a broad array of industries including financial services, healthcare, government, retail, entertainment, and more. Different results are shown or offered by each use case, from improvements to campaign performance, to enhanced customer experience or greater efficiency in marketing operations.
Tim Berners Lee about the AI
“AI is not just heading for our industry and it will radically change the use of machinery we
use in marketing” said by Tim Berners Lee.
There are numerous ways businesses can take advantage of Artificial Intelligence and Machine Learning to create a more comprehensive marketing plan.
Consider the following:
Predictive Marketing Analytics
With huge amount of data coming every second, marketing teams have a hard time
analysing and deriving insights from it. AI allows marketing teams to make the most of the
data using predictive analytics, which leverages an assortment of machine learning
algorithms, models and datasets to predict the future behaviour. This can be a great help
for marketing teams to understand the types of products a consumer will be looking for and
when and then allowing them to position campaigns more accurately. Predictive Marketing
Analytics help marketers know what exactly consumers are thinking, saying and feeling in
real time about the products and brand.
AI marketing helps organizations understand who their target audience will be and so that
they can create a personalized experience for each of their customers as consumers expect
companies to understand and meet their needs and expectations.
Smarter and faster decision making
AI helps conduct data much faster than human intervention, guarantees the accuracy,
security and enables team to focus on strategic initiatives to make effective AI-powered
campaigns.
AI is able to collect and track real-time tactical data so that marketers can make decisions
right at the moment without having to wait until the campaigns end. They can determine
what to do next based on the data-driven reports so that the decisions will be smarter and
more objective.
Content Generation
AI-powered tools can help the works of content creators much more efficiently and easily.
Though the core of the content is routed from human creativity, you can use AI tools to maximize your content team’s efficiency by automating specific tasks such as email content, personalized reports/messages or social media content curation. Some tools like Rocco can help you create fresh social media content that increases your followers’ engagement.
Sales forecasting
Knowing what to do next and doing it right is what every business should aim to meet
customers’ expectations and earn more sales. The application of AI in marketing makes it
easier for marketers to understand customers and participate in their actions based on the
data collected on their contacts and past purchases.
Through this system, you can predict what customers will buy next and the quantity of a
product sold. It helps you define what product to promote and promote to whom to drive
higher sales. This way of creating business intelligence also enables you to avoid overselling
or selling out-of-stock products by balancing your inventory.
An example of software that uses AI to aid marketing reps is Qurious. The software helps
your marketing or sales reps understand every conversation with prospects instantly
without paying outrageous amounts of speech-to-text costs.
Dynamic Pricing
This AI is often referred to as personalized pricing. It’s a pricing strategy wherein a product’s
price is determined by demand and/or supply. A good example is the prices of ride-sharing
apps that increase as demand rises or when you can’t find a discount when you need to
purchase a product online.
An application’s or website’s bot can monitor your predictive analytics use cases such as
cookies, history, searches and other activities to provide you with real-time pricing. This
means you get fewer discounts and/or higher prices for the product/service you need at the
moment. It sounds unfair, doesn’t it? But there are always two sides to a story.
Customers can benefit from dynamic pricing when the demand for a product is down. A
good example of this is when hotel rooms go unsold. To help decrease the chances of a
vacancy, dynamic pricing can offer competitive pricing to attract customers.
Optimization of ads
AI-based tools permit you to handle the process of A/B testing ads in a way that saves time,
money and facilitates the production of top advertisement content using the least amount
of time possible, while using the algorithms of machine learning. The machine dynamically
splits budgets across channels to maximize ROI. It optimizes thousands of micro-campaigns
every minute and expands on new strategies. With the help of technology, you can also
retain information on customer behaviour for future targeting and use the most costeffective touchpoints to drive ROI.
Automated email content curation
Content curation is about finding great content and presenting it to your audience in an
effective way. Simply, you share content created by others with your followers.
However, it’s not just re-sharing content; this process is done by adding more values to your
content that’s more likely to engage your audience.
With Artificial Intelligence, you can curate content and put it into action on the fly. The
automation will save you time scheduling and sending emails to customers. After
segmenting your audience and their emails, AI helps you personalize your newsletter’s
content sent to each of your audiences. Your newsletters need to be more relevant from
what you say to the links your audience will click.
Get AI-powered customer insights
The main reason businesses use AI is for data collection. The insights that AI collects for
businesses are valuable sources for them to understand customers at their best and make
customer-centered decisions. AI enables external market knowledge by analyzing the vast
amount of online content on social media platforms, blogs or other platforms.
Marketers can easily create customer personas based on billions of data collected from AI
algorithms. They are on-site interactions, geographic specials, purchase behaviours, past
interactions/communications, referral sources, and more.
From then, customer segmentation can be done more effectively. Marketers can identify
more clearly which customers should be targeted and included or excluded from the
campaign, better match customers to the products they’re likely to buy, and prevent
promoting irrelevant or out-of-stock products to customers.
Craft personalized customer experience
Brands can use AI to improve customer experience by offering personalized content and
offers and top-notch support to each individual customer.
Think about the last time you visited an online store. You see a page with products you may
enjoy and features selections exactly what you are going to buy. AI is used to analyze the
products you’ve purchased in the past and recommends products that fit your needs. This is
an example of how AI improves customer experience with personalization.
