Artificial Intelligence and Machine Learning are the two important terms which are not only impacting internet marketing but also as a whole market. Both technologies have already reaped significant benefits in all the sectors.
How will Artificial Intelligence and Machine Learning impact Internet Marketing?
The relationship between Artificial Intelligence and Digital Marketing:
During previous years, marketers were hesitant to incorporate artificial intelligence into their strategies. But this year has witnessed considerable confidence amongst marketers with regards to its application. It is because of the reduced ambiguity regarding results as more and more sectors have already reaped significant benefits.
Artificial intelligence made its presence felt this year through its supplementary processes such as big data, Internet of Things and Machine Learning. But these are only components that will eventually contribute towards unleashing the full potential of AI. The coming years, especially 2018 would see visible changes and impact due to the application of AI.
1. Personalizing user experience to a greater extent:
It is the most crucial area where AI can break in and create a significant impact. A customer is the King of any business and content is king for a marketer. If he can align the content marketing strategy with artificial intelligence, it could be ground-breaking. Based on data collected such as customer searches, buying behavior and interests, customized content campaigns can be conducted. The catch is that it can be done for every single customer or prospect.
Chatbots are another example of AI interference in enhancing user experience. Chatbots are programmed to interact with customers on the basis of data that it receives. Traditional chatbox and text communication will soon give away to a multi-dimensional communication system with sensory abilities such as voice and touch. This would personalize the whole experience for users as they receive the impression of talking to a real person with consciousness.
Augmented reality, another aspect of AI can be leveraged to provide consumers an option to see and feel the product before actual purchase. This would make decision making easy for customers as they are able to perceive the product even before purchasing. This will stimulate a faster response from the customer and in turn increase the revenue.
2. Make Your Decision Simpler & Easier With Predictive Marketing:
Each time a user browses on the internet; new data is generated and collected for AI analysis. This data can reveal information such as user needs, behaviors, and future actions. Based on this information, marketing can be optimized to supply the most relevant information. Social media outreach also reveals personal information about the prospect making it easy for marketers to create a targeted campaign.
This further reduces the sales-cycle as the relevant information is handed over to customers on a silver plate. This predictive campaigns can significantly reduce customer research on the product and makes decision making easier. As for marketers, they can continue to analyze the buyer through data and even make the customer return!
This type of AI-enabled algorithms will challenge the current 'hotshots' like SEO in a huge way. With AI powering the digital marketing initiatives from ground level, chances of trends such as SEO, banner ads becoming obsolete are high. After all, who needs SEO and website traffic when you have a detailed report of your prospect?
3. Using image recognition to get maximum ROI:
Previously, image recognition was confined to identifying isolated objects in an image. But with AI-enabled software, it is now possible to get a detailed description of an image. Amazon's latest brainchild Amazon Rekognition can actually recognize human faces, emotions involved and identify objects.
This technology can be used in various ways for various sectors. For banking and financial sector, AI-enabled image recognition can be leveraged for faster payment processes and enhance customer security. Social media is a huge source of images.
Social media has always been biased towards visual content as tweets with images receive 150 more tweets and Facebook posts with images receive 2.3x times more engagement. The world population together shares 3.25 billion photos a day according to this research. This humongous amount of images can be leveraged by AI to understand consumer patterns, behaviors, and needs. AI software will look for images in social media and compare it to a large image library to draw conclusions.
For example, a snack manufacturer can map their brand against the huge collection of photos in social media and understand the buyer demographics such as age group, gender etc., and also geographical potentials such as if the snack was consumed more at the beach, park, supermarkets, theaters and so on. This will help to align the marketing strategies in order to extract maximum Return on Investment.
One of the leading applications of Artificial Intelligence or Machine Learning can be found in marketing analytics and automation as a way to resolve on of the biggest challenges faced by marketers today.
Digital Marketing has always thrived on technology. Now the latest and greatest technologies are expanding the possibilities for creating trust and loyalty between consumers and brands. In an age when Artificial Intelligence, bitcoin, blockchain and cryptocurrency are tearing up the headlines, one thing is clear: blockchain could be the saving grace for digital marketing. The reason that blockchain is being eagerly adopted stems from humanity's mutual distrust of itself.
Most people don't even realize that they're already using AI in their business dealings, often through tools like chatbots and product recommendations. Gartner predicts that by 2020, 85% of customer interactions will be managed and conducted through AI, and it turns out that customers are fine with that.
Despite the still nascent quality of AI and blockchain technologies, a number of companies are already using them. Amazon and Netflix are masters at AI automation and hyper-personalized advertising. By inconspicuously gathering customer data, they provide valuable recommendations to customers based on their preferences.