Technology is advancing at an extremely high speed with the current decade being a period during which Artificial Intelligence Innovations have significantly increased, thus affecting how business is done across all sectors.
Artificial Intelligence (AI) has been viewed for quite some time as a concept of science fiction but many researchers are getting more and more convinced that AI is finally becoming a reality. No one would have thought 30 years ago that humans would one day be using smartphones that have voice assistants or even computers that have some “intelligent” functions. While much of this technology is considered as fairly rudimentary at the moment, we can expect sophisticated AI to one day significantly impact our everyday lives.
Understanding Artificial Intelligence and how it relates to marketing
Techopedia defines Artificial intelligence (AI) as “An area of computer science that emphasizes the creation of intelligent machines that work and react like humans.” Simply put, AI is based on the notion that human thought processes have the ability to both be replicated and mechanized.
Artificial Intelligence has come a long way and is continuing to swiftly change the way in which professionals go about their businesses including marketers. The evolution of big data and advanced analytics solutions have made it possible for marketers to understand their target audiences better and in this advancement, AI marketing finds its place.
Emarsys, a global Independent Marketing Platform Company defines AI Marketing as a method of leveraging customer data and AI concepts like machine learning to anticipate your customer’s next move and improve the customer journey.
Not too long ago, the process of going through, sifting and analyzing big data was an overwhelmingly difficult process but with AI Marketing, it has become not only feasible but easy.
Let us look at a few ways through which marketers can leverage AI Marketing in order for them to remain competitive:
Big Data Analysis: Marketers can leverage AI to enable them to interpret large sets of data more easily and use it to curate targeted messages to each of their customer segment in the most effective way
Smarter and More Intelligent Searches: With AI and big data solutions, marketers are now able to gather and analyse the search patterns of their existing and potential customers thus enabling them to identify the key areas they need to focus on.
More Effective Digital Ads: With AI solutions, marketers are able to find online data such as keyword searches and social profiles that they can use in creating targeted Ads for specific audiences
Customer Segmentation: AI technology can now enable marketers to identify their customers and understand their digital behaviour. With this information, marketers are able to meet the specific needs of each of their customer segment and as a result, build brand loyalty
Improved Customer Experience: Marketers can leverage on AI Chatbots (an automated tool that gives the customer the impression of talking to an actual customer service person in real-time) to provide a better digital experience for the customers by reducing call wait time and answering basic questions, thus improving customer satisfaction and retention.
Is Artificial Intelligence the Future of Marketing?
Artificial Intelligence is growing and improving and won’t slow down anytime soon. It is indeed reshaping marketing as we know it. This can only mean that marketers must consider incorporating AI marketing to their digital strategies. With its advancement, AI will also advance the capabilities for its use to improve marketing and provide valuable customer insights for businesses.
AI should be a top priority investment for businesses that wish to succeed in the competitive market. Those who fail to do so will be left behind.