AI has transformed various business aspects until now. From idea to execution, its imprints are everywhere regardless of the complexity and nature of work. For marketing or precisely digital marketing of current times, AI proves to be a boon for companies. The technology here bridges the gap between data science/analytics and strategic execution. Today, numerous marketers consider AI as a business advantage that is shaping their market spectrum.
As noted by a report by MagePlaza, AI across the marketing touchpoints is used for customer data, machine learning, and other computational concepts to predict a person’s action or inaction. The technology can take on huge amounts of data and help marketers easily segment them. As such, marketers can further break down data to create customized content for their audiences. With AI, businesses can develop great marketing analytics techniques and strategies to target the right potential customers. This will help digital marketers feed customers with the right content on the right channel at the right time.
Here are the ways how marketers can expect AI to influence their marketing outcomes.
AI advanced technology solutions have grown smarter and it’s important to remember that audiences are becoming smarter as well. Thanks to social media and rapid-fire search engines people find what they are looking for faster than ever before. AI and big data solutions can actually analyze these search patterns and help marketers identify key areas where they should focus their efforts.
Also, marketers are already working on smarter ads, with account-based marketing solutions, but AI helps teams take this a layer further for truly insightful analysis. With a new abundance of data available, online ads can become smarter and more effective. AI solutions can dig deep into keyword searches, social profiles, and other online data for human-level outcomes.
Further, with AI, marketers can take data and target to a whole new level. Audience analytics can go past the typical demographics level, to understand people on an individual basis. Today, marketers can use AI to both identify potential clients or buyers and deliver the ideal content that’s most relevant to them.
Customer service and retention is another area where AI plays a huge role. Many companies can save employee time and expenditures with AI-enabled chatbots. AI bots also have access to an entire internet’s worth of data, information, and search histories, making them much more efficient than their human counterparts.
Moreover, AI can uncover once-hidden insights, it can actually be taught and learn to incorporate previously uncovered insights into new campaigns, optimizing outreach to target only the most relevant users.
As noted by Forbes, according to the August 2019 CMO Survey, while the presence of AI grows overall within the marketing function, certain applications have been more widely adopted than others. Big picture, we see that the top three AI applications all involve a focus on driving customer value with more effective marketing. Specifically, over half of respondents are utilizing AI technologies for content personalization (56.5 percent) and generating customer insights using predictive analytics (56.5 percent). Nearly half are utilizing AI to target customer decision making (49.6 percent). These applications vary quite a bit by sector with B2C companies dominating in their use of predictive analytics for customer insights and targeting decisions, especially B2C services companies. Content personalization, on the other hand, is the focus of the other sectors. Overall, B2C companies are investing in applications such as optimizing programmatic advertising and media buying, improving marketing ROI by fine-tuning marketing content and timing, and implementing conversational AI for customer service.