In the past five or so years, artificial intelligence, or AI, has made major fulfillments and advancements in its field. Marketing is one of the first areas to see a major change with this technology. Marketing today utilizes AI’s capabilities for personalization and predictive analytics to provide customers with more tailored marketing messages that they are likely to interact with. Through machine learning algorithms, marketers can predict consumer behavior accurately and tailor messages accordingly. Marketing is not the only industry that AI affects, either. In 2021, we will see AI affect our day to day lives, whether it be at work, school, or basic everyday activities, or building a website. Eliminating human bias and error, AI continues to present its efficiency and sheds light on the value of its daily insights.
AI marketing is a technique for enhancing the consumer experience via the use of technology. It can also be used to improve marketing campaigns’ return on investment (ROI). Computer technicians do this through multiple processes of using large quantities of consumer analytics, machine learning algorithms and iterative processing to constantly adapt to new changes. AI works by itself to refresh its memory, learning something new by the second. With all the data being gathered from consumers today, it would be almost physically impossible to sort and tie this information back to each individual based on their preferences. Instead, AI is able to make these connections almost instantaneously which means that customers receive the right advertisement at the exact time they need it. On a larger scale, it can be utilized to automate activities that formerly needed human intervention to work. AI marketing can be used for content creation, PPC advertising, and even web design. Marketing professionals are using this technology more and more each day in order to gain a competitive advantage over their competitors through remarkable results with advertising campaigns.
AI digital marketing tactics can change the way a business interacts with an audience. It can aid in the acquisition of new customers, the rise of revenue, and the retention of existing consumers. AI can also be used to create personalized content for each individual through the analysis of their behavior and habits online. Every Google search, social media click, blog read, collects data that spits out multiple referrals to potential new clients (PNCs) with ads that fit their liking. And while AI digital marketing is not perfect, it can help to supplement a business’s efforts by setting up an effective framework that will respond more efficiently than ever before when customers interact with them.
AI consumer analytics allows companies in all industries to collect data and turn it into information that can be used to better serve customers in real-time. Artificial intelligence is a tool, not an actual replacement for human labor or creativity. However, by using AI as the foundation of their business practices, companies are able to create new and innovative ways of doing things more efficiently than ever before. An example of AI in digital marketing include but are not limited to:
Chatbots – Have you ever sat on the company customer support line waiting for over an hour just to speak to a human? With chatbots, a company dialogue with frequent questions asked, special questions/concerns are plugged into a database system so that when the consumer “chats” with the computer on the other side, almost any question can be answered instantaneously. This adds a convenience to the user and company because AI bots also have human-like dialogues with customers, which improves the customer experience and removes the waste of time spent on hold waiting to speak to a human in regards to these questions/concerns. These bots also save companies money, because of its implementation in different fields, such as HR/Customer service, marketing, finance, ect. Because the bots are working nonstop, collecting data, and PNC leads, also saving the company money and resources while human employees are not working.
With the constant advancements in AI comes the higher quality of advertising. The future of advertising comes from the advancements in technology. Every consumer is ready to buy “The next big thing”, and with the scientific advancements being made daily, these “big things” usually come from technological advancements. For example, recently more and more companies have been using different types of AI, such as AR (augmented reality) to enhance the product to the consumer. With AR, the interactions of the real world environment are brought through computer generated perceptual data which then helps augment the real world, these come through different sensory factors mostly being visual. A company that has heavily influenced the use of AR in its advertising is Snapchat. With weekly updates to their “filters” page, Snapchat users are able to pick an AR filter of their liking, for example the newest “Doritos Locos” filter lets the user flip the camera and see a life-size Dorito chip in front of them wherever they are on the screen. This adds a flare as well as a competitive advantage to the companies advertising and targets any audience they feel fit with being promoted so heavily through the app. Another quality feature that promotes advertising through AI is its simplicity. Based on complex algorithms and massive data inputs, these systems operate independently, delivering the proper sorts of adverts in front of the right type of individuals. This is a major factor in programmatic advertising.
Ecommerce and retail websites recently have been notorious for tracking consumer habits, interests, and buying behavior with the help of AI. Picture this scenario: Has there been a time when you were talking about a new hoodie you wanted, and 30 minutes later when you’re scrolling through your Facebook/Instagram, you see the same hoodie as an ad on your feed? You can thank AI for that. Predictive analytics can help a business figure out what their customers would really like with different recommendations. This is accomplished by gathering and analyzing information about their previous interactions with the brand. To do this properly, companies need to use AI-powered data analytics tools that can sift through vast amounts of data and provide actionable insights. Another strong example of AI used in retail is from the Chinese commerce company Alibaba, where the company opened a “FashionAI” retail store in Hong Kong, with the goal of streamlining the fashion retail experience through the use of Artificial Intelligence, where customers can scan a tech tag of an article of clothing, smart mirror those clothes to a mirror where the customer can see the clothes on them as well as coordinating pieces of clothing that might match with what the customer is searching for. Convenience is key when it comes to advancements like such and this makes the retail shopping experience easier than ever, instead of wasting time trying on the clothes, users are able to see in real time if they like it or not, as well as given a matching reference to persuade for more purchasing.
Just in 2021, AI services are forecast to grow at 19.3%, according to IDC, reaching a compound annual growth rate (CAGR) of 21% over the next five years.. This upward trend is promising for big companies already implementing AI daily and as well as exciting for their investors interested in the long run. With the introduction of AI to customer analytics, brands have been able to get insights about their customer base that they would not have had otherwise. The technology can investigate and analyze thousands of people, revealing their exact preferences and interests and, as a result, powering effective, targeted marketing efforts. Companies today are increasingly hiring data scientists and programmers to work in their marketing departments, not because they can develop top tier advertisements, because their abilities will soon form the foundation of the majority of marketing campaigns with the help of these AI programs. The data analyst’s job now is to put the outcomes of the data analytics tools as well as customer data to good use. The new data analyst must be able to communicate in the same language as the AI, in order for the tools to survive in the hands of people who can train and tune AI. As a result, the data analyst must use a hybrid approach: part Artificial Intelligence, half Human Intelligence. Only then will you be able to get the greatest results and insights. By pointing out mistakes in time series data, for example, human data scientists can be confident that they’re focused on the relevant facts and avoiding false conclusions.
Industry monarchs have caught onto this trend and speak very highly on the use of AI as well. Chief Information Officer at Chase, Roham Amin, said that “Our latest AI research shows 86% of businesses currently reaping the benefits of better customer experience through AI, and 25% of companies with widespread AI adoption expect to see the tech pay out in increased revenue during 2021. The pandemic has uncovered the value of AI, lending itself to enhancing tasks related to workforce planning, simulation modeling and demand projection. In 2021, we will see more sophisticated applications of artificial intelligence and machine learning (AI/ML) across a majority of industries, including financial services. “
Altogether, we can see how prosperous AI’s growth has been. Marketing teams today will be under more pressure to show executive stakeholders the value and ROI of marketing because of this. Teams will use AI technologies to help them achieve these goals, better allocate cash to successful initiatives, and provide marketing metrics that show how effective campaigns are.
Hope this article helps you out! If you want more advice for expanding your reach, getting leads, & growing your business — let us know in the comment section below!
Or if you’d like help implementing any of these tactics into your business – drop us a line! We’d love if you left a comment/question for us to answer below!
In what ways could you see your business implementing AI into its day to day marketing?
Hey, we’re Maven Marketing Group.
We’re determined to make a business
grow. Our only question is…
will it be yours?