The field of marketing has witnessed significant changes over the past decade. While traditional marketing was done through channels like television, radio, newspapers, billboards, and magazines, present-day marketing has gone digital. Today, we see advertisements in channels like websites, social media platforms, search engines, mobile apps, emails, and messages. This form of marketing is commonly known as digital marketing. It is common to see people completing their purchases online after seeing advertisements on such digital channels. With the growing popularity of digital marketing and businesses experiencing fascinating results, companies are now taking marketing towards further advancement. This step is possible when marketing embraces AI technology or Artificial Intelligence.
AI has become the talk of the town lately, and almost all business verticals are trying to leverage the potential of this powerful technology. Then why should marketing be left behind? Artificial intelligence has so much to offer in the field of marketing and helps businesses succeed in launching effective advertising campaigns. To learn how AI is used in marketing, people are even taking an AI course in Hyderabad, Bangalore, Mumbai, Chennai, and other cities. This article helps you gain a complete overview of how AI is proving to be advantageous for businesses.
AI in Marketing
Artificial Intelligence refers to the branch of computer science that focuses on making a computer system simulate human intelligence. In other words, it tries to make a machine perform human-like tasks and make decisions without any explicit human assistance. A huge amount of data is fed as input to the AI systems, and data processing takes place. Then, there are large processing iterative algorithms that power the AI systems to learn from patterns and features in the analyzed data. In each iteration of the algorithm, the AI system tests and measures its performance and uses the results to improve over time.
AI has led to the automation of many manual tasks and increased the efficiency of business processes. Similar results can be achieved when AI is applied to marketing. Here we have discussed some areas of marketing that are seeing the positive impact of AI implementation.
Customers today want personalized experiences from every brand before they buy any product. E-commerce companies like Amazon, Flipkart, and others use AI and machine learning to identify which product is most likely to appeal to a customer based on their past searches and orders. Companies like Google and Facebook use predictive analytics that allows companies to leverage various advertising functions to target potential buyers with multiple versions of advertising materials so as to measure and assess their effectiveness.
Today, you can come across commercially available AI-powered tools that can automatically generate email content, curated content for social media posts, or personalized messages or reports. Companies are using such tools to generate quarterly business reports, profit and loss summaries, real-time stock insights, sports game recaps, hotel descriptions, and so on. Note that the writing style and data insights of each narrative depend on the formats and rules decided by a company to best serve its target audience.
Deliver customized email messages to a group of clients
When it comes to the online promotion of products along with information regarding the offers related to it, there is no one solution that appeals to every customer. Different customers look for different products, and if you send a general email informing them about offers on certain products, there are fewer chances of getting more clicks or orders. On the other hand, AI can help understand what products a customer is more likely to buy and send emails regarding offers on those very products. This results in better conversion rates.
Identify quality leads
Thousands of visitors check products on e-commerce sites, but how many of them actually make a purchase? A few hundred, perhaps! In other words, not every person visiting your website is interested in buying a product from you. So, instead of focusing on thousands of visitors, it is better to prefer those few hundred and give them a seamless buying experience. It is AI that can help you segment such leads. AI tools can rank leads based on their actions and engagement patterns throughout their buying journey. This predictive algorithm-based lead scoring helps companies predict a lead’s value in advance and curate a perfect model for success.
Don’t you feel frustrated when you are trying to reach a customer service representative but are kept on hold for a long time? Well, chatbots have come to your rescue and often address customer queries and offer solutions quickly. Chatbots are basically AI-driven interfaces (usually text-based or voice-based) that simulate human intelligence by interpreting customer complaints, offering the best possible solution for them, and completing their orders. They act as a reliable data-gathering tool for companies and reduce their barriers, along with minimizing staffing needs.
Apart from the ones mentioned above, AI can be applied in various areas of marketing to read, understand, and engage with modern buyers at an individual level through relevant, hyper-personalized, and timely interactions. The scale, capacity, and dynamism of AI will enable seasoned marketers to develop effective strategies to deliver services to customers in tangible ways throughout their customer lifecycles.