The contemporary business world is riding on a massive and unbelievable technological revolution. Stellar technologies like AI, AR and VR are transforming the face of the corporate world in an unprecedented way. In fact, AI in manufacturing, supply chains and recruitment are already narrating trends that are thriving already. AI is the new normal and we must embrace that thought.
However, did you ever think on the lines of integrating AI in digital marketing? What if we tell you that besides recruitment and manufacturing, AI can enhance your digital marketing too? To substantiate, AI in marketing is projected to reach a market size worth 48.8 billion by 2030. Besides, an expected CAGR of 28.6 percent implies that marketers are showing great faith in AI to turn around things.
Needless to say, marketing in contemporary times is largely identical to digital marketing. As businesses go increasingly online, they cannot compete in the digital space with traditional marketing. As a business leader or marketer you would agree to that, isn’t it? So, it is all about who takes the first mover advantage by leveraging AI in digital marketing for greater impact.
The question is, what are the benefits of AI in digital marketing and how can you reap them in an effective way? Well, that is exactly what this blog aims to answer. In this blog, we look at the different ways in which AI can enhance digital marketing.
7 ways in which AI can add value to digital marketing plans
Data Driven Decision Making
Digital marketing has become a lot more data driven in recent times to acquire greater segmentation of customers. In contemporary times, successful digital marketing campaigns are based on data. This data can pertain to demographic segmentation, consumer behavior and buying patterns. When data is at the epicenter, digital marketing efforts can be more targeted for optimized results. This explains why the global digital marketing analytics market has surpassed USD 4.2 billion.
Besides, it makes sense that in a highly competitive environment, you can’t rely on traditional measures of data collection. Questionnaires and surveys to collect data seem outdated already. Having said that, you can leverage AI tools and software to collect vital marketing data in real-time. For sure, that will add immense value to your decision-making and designing of marketing campaigns.
Marketing as a whole is a complex field and yet affected by many market forces. Integrating AI in digital marketing practices can optimize goals and align short-term objectives with long-term ambitions. Today, digital marketers leverage AI to pass through large forms of historical data and current customer behaviors to attain insights about future behaviors and trends.
For example, AI can offer insights into what customers will be buying in the next season and at what price range. This can prevent digital marketers from making errors or conducting surveys that may consume a lot of time. Besides that, AI can also help marketers know which audience is more likely to become a customer base depending on the available data.
Greater Personalization
In contemporary times, personalization in customer experience has become indispensable for businesses. Today, consumers are only interested in interacting with brands that offer personalized and tailored experiences. To substantiate, StartupBonsai, 72 percent of customers only engage with brands offering personalized experiences.
So, as you can see, digital marketing without personalization will seem all vague. That may sound a little harsh but that is true. Now the question is, how exactly can you drive personalization in digital marketing? For that you will need to understand the behavior and preferences of thousands of customers and then single out the individual choices. While the thought of it may seem too complex, AI can make it incredibly easy.
With AI tools, you can manage big data pertaining to hundreds of thousands of customers and identify their preferences. Subsequently, you can deliver personalized experiences for greater customer satisfaction and retention. The more you personalize the high the prospects of repeated purchases.
For instance, let’s say you are online footwear and apparel brand. A customer visits your website, searches for formal footwear and adds a pair to the cart. However, the customer bounces back without making the purchase decision. So, the next time when the same customer visits your website, you can offer personalized recommendations on the same pair with an additional discount. That is exactly what brilliance and personalization in digital marketing looks like, isn’t it?
So, all in all, you can offer greater personalization with AI in terms of brand messaging, product recommendations and customer service. In AI, your digital marketing has a great opportunity to rise to the next level and offer a competitive advantage.
Automated Content Creation
Content is the heart and soul of digital marketing and will always be. Customers expect brands to offer unique and informative content that can add value to their experience. Furthermore, millennials and Gen Z folks expect their favorite brands to be a lot more consistent with their brand messaging.
So, as a business, you need to create high value content on a regular basis to keep your target audience engaged. More importantly, the content has to be in alignment with the latest content marketing trends. Thanks to AI tools that make content creation more uncomplicated than ever before.
With the integration of AI content creation tools, you can automate content creation for greater consistency in your content marketing efforts. Besides, you can enable greater transparency by tracking digital marketing KPIs in a more worthwhile way. Remember, it tracking your digital marketing KPIs is as vital as creating exceptional content.
AI-Powered Chatbots
Growing at an impressive CAGR of 20 percent, the global market size for AI chatbots is expected to reach 3.8 billion. The question is, what do chatbots really do and why are they important? Well, chatbots are a part of customer-self service elements that make their experiences highly positive.
When you company’s website is equipped with AI-driven chatbots, visitors can get quick responses to their queries and service requests. They would not have to wait for service tickets to be raised and getting a call from customer service representatives.
It is often seen that customers get frustrated when they have to make repeated calls to the customer care representatives. However, with AI chatbots, you can enhance their digital experiences in an incredible way.
Targeted Advertising
Marketing and advertising complement each other. While marketing is about creating awareness your brand, advertising is aimed at driving sales. However, in the digital world, marketing and advertising have an ever greater correlation. Targeted marketing campaigns can be one of the ways to increase website traffic via ads.
In the context of advertising and marketing, what businesses need to realize is that not everyone is their customer. Let’s say you are an organic skincare brand with an exclusive range for women. So, would advertising your products to all possible customer segments make sense?
Your target audience is women who are into organic skincare products and are interested in spending more for organic products. So, it will make complete sense to identify the prospective customers in your target market and run sponsored advertising campaigns for them. With effective segmentation and targeting, you can achieve greater success in your marketing SMART Goals.
Better ROI
When you create marketing campaigns and plans, return on investment is surely a key criteria to assess performance. AI in digital marketing can offer a high return on investment and offer additional cost benefits via automation of recurring tasks.
Besides, statistics also reveal that AI in marketing has led to a 41 percent increase in revenue and has led to a 34 percent increase in ROI of marketing campaigns. Moreover, with AI in marketing, businesses have also been able to cut short the sales cycle hence, enhancing the frequency of sales.
Bottom Line
Many digital marketers are introducing AI into their digital marketing strategies. It is a technology that can optimize any strategy’s performance and without a doubt, it can make a difference in your business. Try out a few AI-powered tools that are easy to use or seek guidance on how to introduce them into your marketing practices.
Besides enhancing your customer experience, the technology will surely increase lead generation and conversion rate down the line.
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