The term Artificial Intelligence (AI) covers many technologies that can mimic human intelligence. AI in Marketing can help brands improve their Marketing Technology (MarTech) strategies across the customer life cycle. And AI tools that were earlier affordable and accessible only to large corporate are now available to smaller businesses as well.
Here are 5 ways AI is shaking up the worlds of both traditional and digital marketing.
1. It helps marketers make sense of consumer data and streamline their marketing efforts
An abundance of data is generated every day through keyword searches, digital pictures, feedback surveys, social media profiles, etc. AI can analyse this data and provide rich and accurate information about underlying customer behaviors, preferences and perceptions. Such insights can help brands generate useful and actionable marketing reports. It can also help them develop more targeted marketing campaigns, improve their value propositions and create more personalized customer experiences.
2. It can help brands understand their customers better and improve their customer interactions
Marketers can use AI to understand what consumers are feeling, thinking and saying about their brand. By monitoring real-time social conversations, AI algorithms can help brands directly interact with customers, connect with them on an emotional level, increase customer retention, build stronger relationships and modify their brand messaging to increase its effectiveness and impact. Through AI chat-bots (virtual assistants), brands can deliver personalized customer service and thus make their customer interactions cheaper and more efficient.
3. AI-generated content: A useful component of a brand’s holistic content marketing strategy
AI-based tools are already generating simple rules-based natural-language content, such as profit and loss summaries and real-time stock market insights. AI machines are now getting better at generating more complex human-sounding content that will appeal to more customers and improve the effectiveness of brands’ content marketing strategies. AI tools can also curate engaging social media content for brands and automatically generate personalized emails and reports based on customers’ reading patterns and topics of interest.
4. It can automate and personalize user experiences and convert ‘prospects’ into ‘customers’
Intelligent AI algorithms can personalize website experiences by displaying relevant, ‘best fitting’, targeted content based on users’ demographics, browsing history and location. With AI, marketers can also create and send specific push notifications and ensure that the right message is delivered to the right person at the right time. AI can help marketers implement a dynamic and targeted pricing strategy to increase conversion and increase profits.
5. AI enables marketers to optimize their digital advertising strategies
Through AI, marketers can uncover and test out new advertising channels that may give them an edge over their competitors. AI-based tools can help brands manage and optimize the layout, copy, placement and bids for their paid ad campaigns. And because AI’s machine learning algorithms can analyse vast amounts of historical data, they can help marketers understand which of their ads perform best on which people and at what stage in the buying process. This information can help them optimize their targeting and serve the most effective content to customers.