The Benefits of Artificial Intelligence When Used in Marketing
When we think of Artificial Intelligence (AI), our minds might first think of the military or the FBI. However, AI is used in our daily lives way more than we might have first anticipated. For instance, we use it for online shopping or customer service. Even our phones and home devices have it like Siri and Alexa.
First, What is AI Marketing?
So, what is AI Marketing? This special tool can be best defined as a procedure to analyze and leverage customer data through AI concepts like machine learning that will foresee the customer’s next move and improve the overall customer experience.
Instead of relying on more people to do the footwork in analyzing the customer and providing a better experience, AI has the capability to cut down the time it will take as well as the cost in the long run. This will also allow marketers to research and work on other projects tailored to benefit the brand in new ways.
Let’s look at the current methods that are being utilized by top companies now!
Enhances PPC Advertising
PPC advertising is actually known as “pay-per-click” advertising where advertisers pay each time a new customer clicks on the ad and it redirects them to the website. This is a great way to essentially purchase customer views on the website.
While most PPC advertising campaigns are managed by people, AI systems can swoop in and help advertisers test out new websites to use and place their ads for better use and quality return on investment. Facebook actually already archives this through their third party optimization.
Sometimes products and services go through either a surge in price or in a reduction. To monitor this better and keep up with the supply and demands on the market, AI will be able to step in and calculate proper pricing for these fluctuations.
Think of ridesharing as an example. When riders see a surge in pricing, it’s more likely AI monitoring the demands in real-time instead of people. This works best because it takes a person longer to analyze and take action as the apparent surge in demand is occurring.
Personalized Website Consumer Experience
Instead of having people monitor customer service on the websites and telephones, AI has been able to take over the system to assist in real-time and 24/7. This instantly brings down the cost for the company. In the last several years, AI has become advanced enough that some customers don’t realize they may be working with a digital robot rather than a person.
AI is able to study consumer behavior and adapt to personal needs, making it perfect for a customer service outlet.
Content Creation From AI
Do you have your own website that constantly needs to be updated with new information? What if we told you AI can do just that? In fact, you may have even already read a few reports created by AI instead of people. There have been algorithms already created to take the place of writers and editors for a website and generate its own information. Cool right?
However, they haven’t figured out the personalization effects of it quite yet. As of now, AI is being used to write up short and simple news reports such as stock updates, financial reports and sports news. This is perfect when there are newsworthy data that needs to be delivered quickly and faster than a competitor.
Chatbots Will Be Your New Best Friend
Similar to consumer experience, chatbots are used in place of a person when talking to a customer in an effort to save both time and money. They’ve been seen not only on customer websites but also all over social media. Chatbots have been so successful because programmers come up with a set of common questions and instill answers for them to use whenever asked.
Facebook has achieved the integration of chatbots well in the last few years because they’ve been able to utilize Facebook messenger and privately market a product personalized to the potential target market.
Chatbots have also been seen on platforms such as Slack and Telegram. Without this useful form of AI, there is a greater potential for human error and time lost during this form of consumer engagement.
Helps With Email Curation
Email outreach is a huge platform to use with marketers, and it shouldn’t be ignored. In fact, some of the most successful companies have highly beneficial marketing campaigns, but so many of their employees spend hours compiling information and angles to blast out to consumers multiple times per week.
However, AI has the power to analyze a consumer’s shopping patterns and send personalized emails catered to their preferences. Amazon does this all of the time. Let’s say you’re looking for kitchen table chairs on their website. If you don’t purchase any or abandon your cart, Amazon will send a follow-up email later with suggestions relating to a previous search in order to instigate a purchase.
Provides Image Recognition
Apple may be one of the best examples of photo recognition. In one of the more recent iOS updates, Apple phones are now able to find photos for consumers who search for certain keywords. This could range from an object to even a person and then show results to all photos relating to the search that was set.
Stores in particular have set technology forth to monitor people’s faces with in-store visits to their profiles online. They do this to study the rate of different people shopping in different areas.
Breaks Down Language Barriers
Having AI speak back to a consumer correctly and efficiently has become one of the best achievements to happen for different companies. Think about programs such as Siri, Alexa and Hey Google. All of these use AI to the fullest extent and can continue to improve with each new year, incorporating themselves more into daily life.
They are able to do this by telling customers the weather, play music, tell jokes, create grocery lists, and monitor household items such as the lights.
Dominates Data Analytics
To be able to have AI analyze big data is a huge benefit that eliminates the usage of large amounts of time set aside for it. AI essentially takes that large amount of data and narrows it down to the exact point of reference businesses need to understand for future operations.
Marketers can then take this quickly developed data and relay it onto different marketing campaigns that will target new and current consumers. When receiving AI data, this gives companies to operate quickly and diligently, especially if complying with the different rise and fall of supply and demand with their products or services.
Spearheading the Future of Marketing
Without AI, marketing, and business management as we know it wouldn’t be anywhere near as innovative and successful as it is today. The build on the current technology is only growing, now more than ever. In a nutshell, AI is able to analyze big data, lead in consumer insights, and enable and provide fast decision-making within the company.
If in marketing or pursuing your own business AI may need to be high up on the investment list as it provides real results and morphs itself to pivot for better outcomes when needed.