Marketing stands to benefit greatly from artificial intelligence. Understanding consumer demands, matching them to products and services, and enticing people to buy are all key marketing operations that AI can greatly improve.
Today, AI is frequently utilized in marketing campaigns where speed is critical. AI systems learn how to engage with customers based on data and customer profiles effectively. They then give them personalized messages at the perfect time without the marketing team’s involvement, ensuring optimal productivity. AI is being used by many marketers today to supplement marketing teams or to execute more tactical activities that require less human finesse.
While AI has made advances in marketing, we expect it to play a bigger role in the coming years across the board. Given the technology’s great potential, Chief Marketing Officers (CMOs) must be aware of the various marketing AI applications available currently and how they may evolve in the future.
AI Marketing at a Glance
AI marketing is a technique for enhancing the consumer experience via the use of technology. You can also use it to improve marketing campaigns’ return on investment (ROI). This is performed by gaining insight into your target market through big data analytics, machine learning, and other techniques.
You can establish more effective client touchpoints with this knowledge. AI eliminates most of the guesswork involved in client interactions, whether you’re doing email marketing or giving customer service.
On a larger scale, it can be utilized to automate activities that formerly required human intervention. AI marketing can be used for content creation, PPC advertising, and even web design. Also, many ad agencies today rely on AI to aid their video marketing efforts.
Why AI Marketing Is Important
Artificial intelligence has a major impact on digital marketing. Customers want organizations to understand their requirements and expectations, according to 76% of customers. Marketers may crunch a large number of marketing data analytics from social networking sites, emails, and the Web in a relatively small period with AI marketing. As a result, AI marketing is a must-have for any company.
Let’s take a closer look at the advantages of AI marketing.
1. Automation
AI improves the intelligence of your marketing automation. It can be used in conjunction with marketing automation to help you turn data into decisions, meaningful encounters, and great business outcomes.
It’s all about data, but it’s even more important to turn data into meaningful insights rapidly and accurately. In other words, one of the most important benefits of AI marketing is the efficiency with which marketing tasks are completed and performed.
AI can assist marketers in increasing the number of campaigns they develop, determining the next best steps for customers, and then accurately defining which campaign to send them.
AI in email marketing automation is a tool that companies can utilize to boost client engagement and open rates while saving money. By improving subject lines for clicks and tracking their success, AI moves one step ahead of a copywriter.
Persado, a New York-based business that applies AI technology to marketing creativity, has secured a five-year partnership with Chase Bank. Chase discovered that integrating ML algorithms in their copywriting helped them attain more humanity in their marketing after trying Persado’s solutions.
AI can also create and optimize content in a variety of email formats that is user-friendly and relevant. Additionally, AI is employed in social media automation and businesses use it to boost customer interaction and optimize content, just as they do with email marketing.
2. Cost Savings
Many of the slash-and-burn resources often used to establish and implement a marketing strategy can be eliminated with AI. By working more swiftly and efficiently with AI, you can save a lot of money while also increasing your revenue.
When your company is wasting too much money and time trying to get things done, artificial intelligence (AI) can assist you in completing repetitive and tedious activities. It reduces the amount of time that your employees spend on certain jobs while also eliminating errors. Firms can greatly reduce hiring expenditures while taking advantage of the available talent to perform more vital tasks.
In short, you can function better with AI. A content manager, for instance, can utilize AI to execute thousands of copy and creative versions of A/B tests and automatically build email subject lines, accelerating the process and outperforming humans.
3. Increased ROI
Marketers may use AI to understand their customers better and improve their experiences. Marketers may use AI-powered marketing to generate a predictive customer analysis and plan a more focused and individually designed customer experience, effectively increasing ROI on each customer encounter.
Marketers can use AI to get deeper customer insights, better group them, and guide them to the next stage in their journey to provide the best experience possible.
Marketers can maximize ROI by studying customer insights and knowing what customers want rather than wasting money on ineffective initiatives. They can also stay away from mindless advertisements that irritate clients.
4. Increased Personalization
We’ve heard a lot about personalization in the digital realm of purchasing. When it comes to internet buying, buyers are increasingly looking for this.
So, what is the secret to improved personalization that eCommerce businesses may employ to capture the hearts of their customers?
Artificial Intelligence (AI) is the answer.
Artificial intelligence will tailor your marketing in a variety of ways. Many businesses are already using AI in their web pages, emails, social media postings, video, and other content to better cater to their customers’ needs.
Making push notifications mobile-friendly, for example, is helping eCommerce businesses achieve better outcomes. Customers pay more attention to push notifications given via mobile when they are done well because they generate a sense of personalization.
Each customer will get their individualized push alerts with custom-tailored messaging based on what they’ve seen or exactly what they want to hear from a brand.
Product suggestions are another fantastic AI marketing tactic that personalizes the consumer experience beyond what many marketers imagined was possible.
According to Aberdeen Research, organizations that use predictive analytics to detect customer needs can boost organic revenue by 21 percent year over year, compared to an average of 12 percent without predictive analytics.
Starbucks is an example of a company that collects and analyzes client data through its loyalty card and mobile app. In 2016, they announced intentions for personalization.
Since then, they’ve created a fantastic app. It keeps track of purchases, including where they were made and when they were made.
Starbucks employs predictive analytics to process this information and send targeted marketing messages to customers. When a user visits a nearby retailer, these communications include suggestions and special offers aimed at increasing the customer’s average order value.
5. Smarter and Faster Decision Making
AI speeds up data processing compared to human intervention, ensures accuracy and security, and allows your team to focus on strategic efforts to create effective AI-powered campaigns.
AI can gather and monitor real-time tactical data, allowing marketers to make decisions right now rather than waiting until the campaign is over. They may decide what to do next by relying on data-driven reports, resulting in better and more objective decisions.
How AI Is Helping Companies to Improve Marketing ROI
Companies are gradually increasing the importance of artificial intelligence in their marketing campaigns as AI algorithms evolve and superior processing power becomes more readily available.
Artificial intelligence is frequently used to decipher the signals hidden beneath oceans of data. It gives businesses a competitive advantage by delivering strong predictive insights into customer behavior. The following are some of the key ways AI is helping companies to improve marketing ROI.
1. Predicting Purchasing Patterns Using Predictive Analytics
Predictive analytics makes use of large amounts of data to predict future outcomes. Target, for example, has put a premium on predictive analytics to predict buyer purchasing habits accurately.
In 2012, the company made news when they correctly predicted a teenager’s pregnancy based on her shopping habits, before she even realized she was pregnant herself.
This incident demonstrates both the precision of marketing businesses’ algorithms and the ongoing need for human control when using these emerging technologies.
2. Achieving Sophisticated Object Recognition with Deep Learning
Deep learning allows a computer to “learn” how to recognize patterns in photos, text, voice, and other data to extract useful data. No discussion on deep learning would be complete without noting Facebook’s usage of a powerful object-recognition engine based on user-submitted photographs from Instagram.
While the company claims that the information gathered isn’t being used to analyze user behavior better, the site’s recent open-sourcing opens the door for other businesses to employ this predictive technology as well.
3. Enhancing Customer Experience Through the Use of Chatbots
Companies are using artificial intelligence outside of the IT industry to improve the consumer experience. Companies are giving customers smart, reactive, and dynamic 1:1 communication that answers their needs and assists them in identifying useful services with the assistance of intelligent chatbots.
Just Answer, an online answer engine that connects visitors to experts in various disciplines, launched a chatbot built by the Achievion team. Questions got routed faster, communication between user and expert became more efficient. The improved efficiency and speed have resulted in increased conversions which allows the online expert question and answer website to stay relevant and grow.
4. More Synched Online Content and Store Visits With Automated Image Recognition
AI is used by big firms like Amazon, Facebook, and Google to recognize people and objects in photos and videos with a 99.75 percent accuracy rate.
If you’re a Facebook user, you’ve probably noticed how good the system has gotten at detecting and automatically tagging your friends’ faces in your images.
Image recognition can help marketers better align online content with in-store visits. Many stores use face recognition software to track customers’ in-store visits and link them to their profiles so they may have a better online buying experience.
Others integrate this technology with AI-driven push alerts to provide customers targeted offers, discounts, and messaging in real-time. This improves interactions between stores and customers while also prolonging their excitement while in the store.
5. Improving Marketing Campaigns with Speech Recognition Technology
Want to experience what it’s like to be Jarvis from the Marvel film “Iron Man”? Jarvis may be years ahead of his time in terms of technology, but it doesn’t mean it won’t happen.
Similar AIs with speech recognition skills are currently available. Are you familiar with Alexa, Google Assistant, and Siri? These are just a few of the most popular voice recognition chatbots.
To carry out the command, these AIs can identify spoken words and/or convert them to text. Even programs like Shazam, Google Maps, and other hands-free systems require speech recognition.
So, how can marketers use voice recognition in their marketing campaigns? By 2022, more than 55% of homes will have a smart speaker, up from 13% in 2018.
Furthermore, voice shopping revenues are predicted to increase to USD 40 billion by 2022, up from USD 2-billion in 2018. If the research is to be accepted, this speaks (pun intended) volumes about the importance of using speech recognition in your marketing strategy.
Final Word
Humans just cannot match the efficiency that AI provides. Even if humans could equal their robot counterparts, the resource-intensive aspect of such work benefits organizations that use non-programmable activities to utilize the abilities of their employees.
Modern marketers must begin investigating and implementing the different ways in which AI might help them achieve their company goals. Companies that wait too long to adjust following an industry-wide paradigm shift may find themselves hurrying to catch up.
Please contact the Achievion team if you need further information about how AI can improve your marketing campaigns and ensure great marketing ROI.
