How Is Artificial Intelligence Revolutionizing Marketing?
The media sector is witnessing a great revolution thanks to AI. It has provided digital marketers with a wealth of new opportunities to expand their businesses, attract and retain clients, and differentiate themselves in the marketplace. Here, we'll go through six ways AI may help digital marketers streamline processes, increase the return on investment for advertising campaigns, and more.
Artificial Intelligence in Marketing: Statistics and a Definition
Artificial intelligence is a broad phrase, but it is a method of teaching computers to act autonomously. It's the product of using methods from cognitive science to simulate human cognitive abilities, including reasoning, natural language processing, and problem-solving, in computer software.
For instance, to teach a computer to play chess, one may have to show millions of board configurations along with the probable next moves for each. Subsequently, the computer can utilize this data to choose the best course of action. As a result, AI can now make better judgment calls than humans.
The same reasoning can be used in digital marketing, which is why cutting-edge corporations have begun incorporating AI into their operations. Data from specific subfields demonstrates AI's marketing potential:
The most effective marketing groups employ an average of seven different types of AI and machine learning.
The use of AI by top sales executives is expected to expand by 155% over the next two years.
Statista reports that forty percent of companies have benefited from AI, whether it be increased productivity, sped-up revenue growth, providing access to actionable information, etc.
Sixty percent or more of businesses anticipate using AI because of the need to cut expenses.
Although the potential of AI in digital marketing is exciting, here are some of its practical applications.
1. Boosting your marketing strategy
Artificial intelligence is having a significant impact in order to boost productivity in the advertising sector. You may target the people most likely to engage with your social media marketing campaign using AI.
For instance, online gambling companies like the jackpot casino, know that their content is more likely to be enjoyed by people who already have a strong interest in gambling. Artificial intelligence analyzes user data and patterns of behavior to determine what audience to target.`
2. Automates mundane tasks
Although the digital marketer's job description is always evolving, some mundane administrative duties are impossible to eliminate, including conducting research, sending emails, and using social media. All of these can be automated by AI, giving marketers more time to focus on strategic initiatives.
Software for robotic process automation (RPA) can be used to automate lead generation efforts by integrating with other apps and platforms.
3. Facilitates personalized marketing
The application of AI in digital marketing is also shaping ad customization. With the help of AI, companies can now get across to specific customers with tailored messages which are generally more appealing.
A business that sells electronics can use artificial intelligence to send personalized emails to past customers based on their purchase history. Customers who have previously primarily bought new electronics in autumn from the brand are more likely to respond favorably to advertisements for autumn sales.
4. Streamlining the customer experience
Artificial intelligence improves marketing's efficiency and personalization in addition to enhancing the entire consumer experience. AI-enabled chatbots can help streamline the customer care process, which is particularly useful when human customer care agents aren't available, for instance, during peak hours.
AI also uses virtual reality to streamline the customer experience. VR can be used to show prospective buyers what they're signing up for. A home decor store might get their customers to use VR and try out several pieces of decor pieces in their homes and get a feel for how those pieces would look and function in the space.
5. Facilitates predictive analysis
Predictive analysis is another way AI helps organizations. Here, firms employ AI to analyze collected customer data for hints on future trends. This date may shape product development and strategic marketing.
With the help of predictive research, a business can stock up ahead of time if it knows that sales for a specific product tend to increase in the winter. That would allow them to mitigate losing money as they will no longer need to restock too quickly.
Predictive analysis can also be used to foresee the demands of a specific market. This data can be used to develop new products that are aligned with their preferences.
6. Improves lead generation
Last but not least, AI is helping marketers create and nurture leads. Chatbots allow marketers to communicate with potential customers and gain insight into their wants and needs. The resulting information can be utilized to generate leads with a greater probability of converting into paying customers.
In addition, AI may rate leads according to their potential to become actual customers. Artificial intelligence is also useful in the lead nurturing process. Businesses can utilize AI to send personalized messages to leads at different stages of the sales funnel. It keeps consumers interested, which in turn increases sales.
The bottom line
Artificial intelligence is changing the face of advertising. This tool allows for more targeted and efficient advertising. These six are just a few of the ways how the general customer experience can be boosted by adopting this tool.