Artificial Intelligence (AI) has already changed the marketing industry. AI can speed up many tasks and improve their efficiency. AI technology can improve the customer experience, and increase conversions.
If you’re in enterprise marketing, likely, AI solutions are already part of your Martech stack. Most marketers don’t know the benefits AI offers over other marketing tools.
If you’ve not jumped aboard the machine-learning bandwagon, or have only considered dipping your toes in, then you’re not the only one. Investing in new technologies is a major decision.
You can also read our Quick Take-Aways
1. Personalization & Recommendations Improved
The way consumers interact with and respond to marketing messages is changing. Direct mail and media advertising are less effective than before.
Today, consumers expect that brands will tailor their advertising to their interests or demographics. Most people ignore or don’t even notice non-personalized ads.
Accenture is a management consultancy firm that found in a 2017 report that more than 40% of customers switched brands due to a lack of trust. Accenture’s report revealed that in 2017 over 40% of consumers made the switch to another brand because they lacked trust.
Consumers are more engaged with marketing messages that are personalized. According to Experian, emails that have a subject line that is tailored to the recipient are opened 26% faster. A Marketo survey found that 79% of respondents would only consider using brand promotions that are customized to them based on their previous interactions.
AI allows marketers to target individuals rather than the generic groups that they previously relied upon.
The technology uses intelligence from previous brand interactions to predict customer behavior. Marketing professionals can send content that is most likely to turn a lead into an actual purchase, at the best time.
Most people are familiar with the tailored recommendations they receive when visiting sites such as Amazon or Netflix.
Amazon has, for instance, records that include:
You can use this information to get product recommendations based on your preferences, past purchases, and other people who bought the same items as you.
Amazon may recommend baby clothing and toys to you if you ordered stretch marks cream and prenatal vitamins.
This all is powered by DSSTNE – an AI framework released as open-source software to improve its deep learning capabilities.
Gartner predicts that 90 percent of all brands will use personalization marketing in some way by 2020. But the vast majority of brands will not create content that is optimized for personalization.
The machine-learning algorithms use customer data to create hyper-personal experiences.
2. Dynamic Pricing
Sales can be increased by offering discounts. Some customers will not purchase if there are no discounts or a very small discount.
Dynamic pricing can be done by AI based on demand, supply, customer profile, etc. to increase sales.
This website tracks Amazon’s product prices. For each product, a graph shows the price fluctuation based on seasonality and popularity.
If you have ever searched for flights, then returned a day or two later to buy them and found that they had gone up by several hundred dollars.
3. Customer Service Chatbots
Facebook Messenger, WhatsApp, and other messaging applications are the most popular methods for clients to contact companies. However, keeping a staff of customer support agents on hand is costly.
Some companies use chatbots to provide instant answers to common questions. They can also direct the conversation to a human agent if the question is more complex. Customer service agents can spend their time on conversations that require personal responses.
We are becoming more comfortable with virtual assistants like Siri, Google Alexa, Cortana, etc., to the point that we prefer them over real people in certain cases. The AI algorithms for language processing are extremely advanced. In recent years, machines have been able to replace human beings in roles such as customer service and sales.
Chatbots are more effective and “human” than more employees to answer inquiries. Machines always stay energized, unlike people, and so they will always be engaging, friendly and likable.
4. Search Engine Optimization
Search algorithms are constantly improving in every aspect, starting with small databases on ecommerce websites and ending up at Google where millions of people use it each day.
AI integration into search can detect misspellings and suggest alternative words (“didn’t you mean …”)? The integration of AI into search can detect misspellings, and suggest alternatives (“didn’t you mean…”)?
Google is becoming increasingly good at understanding the “intents” of users. If someone searches for “Apple”, is it to find out about the fruit or technology company?
The search engines know that when you use your smartphone to look for a “coffee shop”, it’s because the user wants coffee shops located within a specific distance and not just coffee shops.
Special results such as Google My Business or shopping results are also available to searchers. As AI assistants and devices increase, voice search also becomes more popular.
Voice search is growing with smart speakers and mobile Internet.
AI is required to recognize spoken queries and understand their meaning. They are not the same as traditional searches.
Marketers can optimize their content to be voice searchable as we move towards a digitally voice-controlled world. It will improve website traffic and SEO.
5. PPC Ad Optimization
The standard way to optimize marketing messages is through A/B tests. AI algorithms can optimize ads by analyzing conversions and user interactions.
Advertising is becoming less effective. This has a huge impact on the publishing industry. If the current adoption rate is maintained, it will result in revenue losses of $35 billion by the end of this year.
In the past, brands like Unilever and agencies such as Havas had frozen their Google or YouTube budgets because their ads were displayed next to “unwanted content” Due to the questionable reporting on viewability along with the increase in fraud cases, agencies and brands have become more careful in spending.
The customer journey begins with initial interest. The holy grail is how to interact with customers to provide the best information when they’re most likely to react. Over the past decade, practitioners were able to successfully test, implement, and apply techniques to optimize performance.
Google has realized that evaluating performance based on aggregated behaviors isn’t the most effective way to measure ads.
The ads will be more relevant to the user and advertisers get a better return on investment.
6. Scalable Content Creation and Curation
The return on content marketing investment is impressive. However, it can take a lot of resources. According to Gartner’s predictions, most brands struggle with producing enough personalized content.
The first attempts to create machine-generated content were unreadable. The search engines may have been fooled (temporarily), but, not humans.
The use of AI in content creation is now so sophisticated that Stylist Magazine published three /span>
AI has the potential to optimize your marketing campaigns in several ways. The software can generate stories and news in just seconds. This would take a human author days or even hours.
The Washington Post has an internal reporting tool, Heliograf, that it uses to write basic news and social media stories.
Computers are also very good at formulaic headlines. These are the ones that fall under “clickbait “.
You may be closer to a replacement than you thought. Forbes, for example, publishes content that is at least partly generated by AI.
The AI-based process of content creation allows marketers to improve their efforts in content marketing, the greatest challenge that they face.
You can use AI to find and select content for your audience. You can automate curation.
7. When and where to promote digital promotion?
The digital marketing field is growing and offers many opportunities. However, the sheer number of choices can be overwhelming.
Content marketing for enterprises offers many options, but they may not work well with all leads. Experimenting is the only way to discover which channels are most effective, but it takes a long time.
The AI software can automatically determine the channels with the highest chance of success, based on interactions between the user and the brand.
Timing is key to the success of your marketing campaign. AI eliminates experimentation, guesswork, or relying on industry averages. For example, “the best time to publish on LinkedIn is Wednesday between 10 am-12 pm.” AI scheduler software determines when to promote each customer through each channel.
8. Automated marketing processes
It’s been a while since marketing automation was invented. You can automate the process of copying, pasting, and changing names in thousands of emails.
AI-powered email software and automation can help you take your business to the next level. AI automates repetitive tasks very efficiently. Machines can now do the majority of work that human marketers would normally have to perform.
AI-powered marketing automation allows you to customize customer experience, react to interactions with customers, and reach out to leads using the most effective channel.
The entire process can now be automated with just one click.
Outsourcing these repetitive tasks will improve productivity. You’ll be able to focus your attention on more important areas such as marketing strategy and face-to-face conversations with customers.
9. Processing Big Data
The software can parse multiple databases and combine intelligence from different sources.
Most enterprise organizations already gather a lot of information on their customers and industry but fail to make use of it.
A survey conducted among North American and European business executives including those from companies with more than 2,500 workers found that only 4% are getting maximum value out of data.
It can be due to many reasons including lack of skills or technology. The absence of an analyst is another reason.
Artificial intelligence can be used for gaining valuable insights from data and to deliver that information to all employees in marketing and management.
10. Understanding and Predicting customer behavior
Can predict more accurately than you, your spouse or partner, friends, and family members? I learned this important insight a few years ago in Las Vegas at Pegaworld.
More than 4,000 IT and business leaders met to talk about the impact of technology on the future of sales, marketing, and customer service. The audience at the event was more technical than what I’m used to seeing in Marketing conferences.
We are still working on the same problems as our audience.
Despite all the conversations about technology, everyone is asking: How can technology be used to foster more human relationships?
AI is a powerful tool that can help leaders of customer-centric organizations achieve the goals they have set for personalization and improved decision-making.
I am a simple professional who wants to see more sales, lower costs, and happy employees.
The AI can be used to personalize customer experiences and to predict outcomes.
Unhappy customers will stay loyal to a brand. Even if the service provided was poor, points can be used to purchase an airline ticket.
The ability of AI to determine patterns in human intentions and multiple drivers that may influence millions of customers’ decisions. These factors can change depending on the product or service, the time of year, the geographical area, and the demographics.
This can be done very accurately.
By sending targeted messages and nurturing a customer through an optimized buying funnel, you can maximize your sales.
AI will take care of all your work. Intelligent software can give you new insight into customers, and help you deliver more effective marketing messages.
AI helps you to identify valuable leads so your sales staff doesn’t waste their time on leads that aren’t ready to buy.
You can streamline your marketing efforts and save time by automating tasks like lead scoring, sales page optimization, and manual lead scoring.
11. Better Business Intelligence
It takes a lot of time and effort to develop the right algorithm for your company.
AI can confirm or reveal new information that would not be discovered by human analysts.
The concept of business intelligence (BI) is nothing new. However, it has its limitations when compared to other practices. Blindspots may hinder our efforts if we continue relying on traditional BI. In addition to this, we are likely to miss out on critical insights that an AI framework could reveal.
12. Improved User Experience
The UX of your website and app will make your users more likely to engage with your business.
AI is more effective than traditional optimization and testing cycles.
If you’ve not implemented AI, then you are already behind.
Your company may fall behind if you don’t take advantage of AI marketing. Technology is becoming more important in today’s world.
Learn more about AI-powered martech.
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