Whether AI is analyzing consumers’ interests and data, driving sales decisions and social media campaigns, or some other application, AI is changing how we think about marketing across a range of industries. AI allows marketers to rapidly identify qualified leads, build intelligent nurturing strategies, and create content that is tailored to consumers’ needs.
SwissCognitive Guest Blogger: Yahya Mohamed Mao, Head of Business Development & Marketing, Swiss GRC
Artificial intelligence, or AI, is the ability of a computer or machine to mimic human intelligence, including the capacity to learn from examples and experience, recognize objects, comprehend and respond to language, make decisions, and solve problems. AI can then combine these abilities with others to carry out tasks that are within its power. Although AI has been prevalent in business for quite some time now, its areas of application in marketing are still modest or about to be discovered.
The central activities of marketing are understanding customers’ needs, matching them with products and services, and convincing people to buy. The matchmaking of AI and marketing, also known as AI Marketing, is often described as a method of leveraging customer data and AI concepts. The goal always is to anticipate a customer’s next move, improving customer experience. In other words, AI marketing is the process of using artificial intelligence to automate data gathering and analytics, which empowers marketing teams to make better data-driven decisions.
How AI is reshaping marketing
Today’s marketing professionals and executives do not worry about being replaced; instead, they try to find ways of successfully employing AI algorithms to acquire a competitive advantage, draw in more customers, and boost customer engagement. Artificial intelligence is quickly expanding to become a crucial component of successful marketing due to the rising demand for personalized marketing experiences (which can increase sales by up to 80%) and the complexity of modern marketing operations (which cross multiple channels and involve multiple touch points before potential customers make purchases). In fact, AI has already shown that it is capable of extracting predictive information from transactional data using complex algorithms that far exceed earlier marketing models. From invaluable insights, personalized product recommendations, and tech-enabled help, AI in marketing is already driving some of the biggest advances in overall customer engagement. With AI, brands are able to improve marketing campaigns ROI with predictive modeling, enhanced segmentation, and personalization. Target segmentation is one of the keystone elements to customizing marketing campaigns, but there are plenty of other ways that AI can help businesses customize experiences for their audiences and customers.
AI marketing brings together smart technology and human creativity to learn, understand, and interact with consumers on an individualized level through highly personalized, relevant, and timely communications, making them feel compelling to stay engaged. When used effectively, marketers can transform their marketing campaigns by harnessing AI, mining for their most valuable insights and acting on them in real-time – analyzing, for instance, the most effective placement of ads for better engagement. AI marketing and its ability to analyze vast data sets can be used to spot emerging trends, by joining real-time conversations or events with users. AI, then, can be used to extract valuable insights from data and provide that insight in a manner easy for employees at different levels in your marketing team, as well as wider leadership teams, to understand and utilize. The next generation of AI-powered marketing technology is expected to enable advertisers to apply complex algorithms that convert information about customer purchases into suggestions of the kinds of things they might be interested in, advancing tailored targeting.
AI will increase marketing efficiency
AI provides real-time, more informed marketing decisions. It may provide businesses with a better understanding of their customers through machine learning and large data analytics. Artificial intelligence will remove a lot of the guesswork involved in customer interactions, whether you are doing email marketing or offering customer care. Personalizing the customer experience, reacting to customer interactions, and approaching potential consumers at the ideal moment through the channels most likely to be successful are some instances of AI-driven marketing automation. Marketing content required for the marketing process is for example an area that bodes well for AI-powered tools. Despite less talked about, AI-based content creation is just as important as it can drive many areas of digital marketing. While tools for AI-driven content creation will not ever completely replace creativity or strategic thinking, they can speed up productivity because tools for AI content generation could genuinely produce a lot of content with little direction. When developing content, these AI-powered tools can help save time and effort. Marketers may leverage predictive analytics, automate content creation, enhance customization and target content, and more with the help of AI solutions. Marketers may monitor consumer preferences, habits, and interactions with information with the aid of machine learning. AI solutions assist in making data-driven content marketing judgments. In conclusion, content analytics enables marketers to analyze data, draw conclusions from it, and improve the outcomes of their content marketing campaigns. To assist marketers in producing engaging content and receiving research-based marketing plan advice, content analytics harnesses the power of artificial intelligence. Marketers should consider how AI tools may strengthen their competitive edge and boost profitability because content also presents a chance for brand distinctiveness.
Are we ready for AI in marketing?
A few years ago, the digital age also reached the marketing world to a more advanced and digital approach to marketing strategy. Targeting consumers based on their behavior was the cornerstone of previous marketing strategies, which paved the way for automation and, in turn, for online shopping and virtual customer support. And that might soon pave or has already paved the way to AI marketing.
trueNorth revealed impressive AI facts in 2020. These are as follows:
- Artificial intelligence, according to 61% of marketers, is the key component of their data strategy.
- 80% of business and technology leaders claim that AI already increases productivity.
- The current state of AI technology can increase business productivity by up to 40%.
- AI-enabled voice assistants are used by 97% of mobile users.
- 83% of early adopters of AI have already seen significant (30%) or moderate (53%%) economic benefits.
When it comes to AI marketing, the human and AI combination is crucial. The key is to be aware of the benefits that AI technology already offers. For sure, it has a lot of growing up to do. AI in its present development stage is essentially automation and machine learning combined with the aim of discovering and implementing insights that human teams are not capable of doing as quickly or on such a large scale. Companies that want to maximize data usage, develop effective workflows, and increase productivity already have to use technology for this purpose. Unfortunately, AI is not yet capable of making highly original decisions or foreseeing nuanced emotional reactions, and it might never be. By handling more of the mundane, repetitive tasks that make up the majority of marketers’ workloads, AI will create more jobs than it steals, enabling marketers to spend more time making creative decisions.
About the Author:
Yahya Mohamed is Head of Business Development and Marketing at Swiss GRC. He is the author of “The multidimensional characteristics of modern marketing” and “Managing risk and uncertainty in the innovation process”. Yahya has been invited to speak at international conferences including AIBC Summit Malta & Dubai, DMEA Connecting Digital Health Berlin, The Wall Street Journal, Affiliate Grand Slam Dubai and the SWISS GRC Day.