The major challenges that marketers are facing are generating traffic & leads and proving Return on Investment (RoI), and lack of budget for marketing. Data overload from multiple sources, limited resources and time to implement activities, a crowded marketplace and increasing customer expectations make the job much more difficult.
Artificial intelligence (AI) helps to gain the competitive advantage in this connected world by reducing manual workloads, rapidly personalizing decisions at scale and improving their targeting.
AI has started its journey into marketing since past few years. It is helping brands to enhance customer experience, product planning, marketing and sales strategies in an appropriate manner. There are many ways in which marketers can use AI to assist their current plans and create better ways to capture customers' preference. These include:
1. AI-enabled marketing and sales forecast:
The AI-enabled marketer will enable reliable consumer insights and predict their behavior. Also, it will allow them to build audiences based on possible future actions. AI tools will also help marketers to support decisions through real-time and up-to-date gathering, forecasting and trend analysis, and send messages at the right time.
2. Provide real-time recommendations:
AI tools are helping marketers understand customer behavior & preferences and personalizing their offerings. It is done keeping in account some parameters like purchase history, disposable income, use of predictive intelligence to target leads that have the highest levels of buying intention. AI-powered tools can allow sales and marketing teams to provide recommendations in real time and channel their efforts to derive the best possible outcomes as they are designed to learn and reason.
3. Predicting churn:
Disengaged customers are the biggest curse for marketers. Customers who are fully engaged, represent more profitability, revenue, and relationship growth as compared to the average customer. Machine learning algorithms can help gather data about disengaged customer engagements, build a predictive model and validate that model on real customers. AI-powered churn prediction can keep more customers engaged, leading to the high lifetime value of the customer.
4. Social AI:
Many enterprises have adopted social AI. It aims to improve customer experience by providing enterprises with better insights through analyzing customer data, online behavior, preferences and buying patterns. It is useful in monitoring and analyzing social communication. It guides marketers to post the best content in their blogs, forums and websites.
5. Content creation:
Currently, machines can create content like profit and loss summaries, quarterly business reports, real-time stock insights etc. The writing style is developed on the basis of rules and formats established by the brand. Marketers can use predictive AI tools to generate email content, personalized reports or messages that record the customers' past behavior while allowing marketers to personalize messages. As the messages are more target-driven, it will lead to generation of higher returns with minimum cost.
6. Intelligent email content delivery:
AI helps to overcome the problem of delivering personalized emails by analyzing customers' reading patterns and topics of interest to recommend specific content most relevant to that person. It also helps the marketing team to analyze historical emails and open rates. This can help determine the best time for both individual customers as well as larger segmented audiences. The use of AI-powered tools can significantly contribute in increasing the effectiveness and efficiency of content, ensuring that the investments in content are paid back in high-quality leads and more deals.
Lastly, the ultimate role of AI in marketing is to add value and purpose to both brands and customers. More and more companies are directed towards making better marketing decisions with AI.