Artificial Intelligence (AI), also known as artificial intelligence, is already being used to some extent in marketing, also known as AI marketing. We expect it to play an even bigger role in the future. It's crucial for marketers to understand the importance of AI and how it can be applied to marketing.
Marketing is about understanding customer needs, applying them to products & services, and convincing them to buy. These are all challenges that AI can improve with ease.
as with any marketing campaign, it's important to set clear goals and marketing analyses from the start
From a research The American Marketing Association found that AI implementation had increased by 27% in the past year and a half. It also appears from a research from Deloitte that among AI users, three of the top five AI goals were marketing focused, namely; improving existing products and services, creating new products and services, and improving customer relationships.
We take a look at the product from Harvard Business Review and extract the most important information. Next, we'll give you tips on how you can apply AI marketing yourself.
what is AI marketing?
AI marketing uses artificial intelligence technologies to make automated decisions based on data collection, data analysis, and additional observations of target groups or economic trends that may affect marketing.
Many organizations are now using AI to perform limited tasks. Such as placing digital ads (programmatic buying), assisting in improving the accuracy of forecasts, and increasing human efforts in structured tasks such as customer service.
AI marketing in the buyer journey
AI is also used in every phase of the buyer journey. When potential customers are in the consideration phase and researching a product, AI ads will target them and help them search. Here, AI determines which customers are most likely to convince and chooses products to show them based on their browsing history.
AI-enabled bots can help marketers understand customer needs. They can also increase their engagement with a search and push them in a desired direction (for example, to a specific web page). If needed, they can even connect people to the web chat or company phone.
AI can streamline the sales process by using detailed data about individuals. This includes real-time locations to create personalized product or service offerings. Later in the buyer journey, AI helps upsell and cross-sell and can reduce the chance of customers abandoning their digital shopping cart. For example, after a customer has filled a shopping cart, AI bots can pull out a motivational message.
After the sale, AI service agents are available to review customer requests. They are also better at dealing with fluctuating volumes of service requests than human agents. They can handle simple questions about delivery time or scheduling an appointment, for example, and can forward more complex issues to a human agent. In some cases, AI helps human representatives by analyzing customer tone and suggesting different responses.
parts of AI marketing
The following components of AI marketing are the solutions that help bridge the gap between the massive amounts of customer data and the useful next steps that can be applied to future campaigns.
machine learning
Machine learning is powered by artificial intelligence and includes computer algorithms that can analyze information and improve it automatically through experience. Devices that use machine learning analyse new information in the context of relevant historical data. Then they make decisions based on what worked or did not work in the past.
big data and analysis
The rise of digital media has led to an influx of big data. This has provided opportunities for marketers to understand their efforts and accurately assign value to all channels. This has also led to an oversaturation of data, as many marketers have trouble determining which datasets are worth collecting.
AI platform solutions
Effective AI-powered solutions provide marketers with a central platform for managing the massive amounts of data that is collected. These platforms have the ability to derive insightful marketing information to your target group. This allows you to make data-based decisions about how best to achieve them.
how to use AI in marketing
It's important to start with a strong plan when using AI in marketing campaigns and activities. Before implementing an AI tool, there are a few key factors to consider.
set goals
As with any marketing campaign, it's important to set clear goals and marketing analyses from the start. Start by identifying areas within campaigns or operations that AI could improve, such as segmentation. Then set clear KPIs that help illustrate how successful the AI-Augmented campaign is or has been. This is particularly important for qualitative goals such as “improving customer experience”.
privacy
At the start of your AI program, make sure that your AI platform doesn't cross the threshold of acceptable data use in the name of personalization. Make sure privacy standards are set and programmed into platforms.
data volume and sources
To get started with AI marketing, marketers need a huge amount of data. This is what will train the AI tool in customer preferences, external trends, and other factors that influence the success of AI-enabled campaigns. This data can be extracted from the organization's own CRM, marketing campaigns, and website data. In addition, marketers can supplement this with data from second and third parties.
