Artificial Intelligence in Marketing.
Artificial intelligence marketing (AI Marketing) is a way of using customer data and AI to realise beforehand your customer’s next move and improve the customer experience.
The evolution of data and analytic solutions have made it possible for marketers to see a more detailed picture of their target customers persona than ever before. Introducing artificial intelligence (AI) marketing.
Big data insights enable digital marketers to increase their campaigns’ effectiveness and improve ROI, with little extra effort, and almost hands-free for the marketer. While this definition provides an overview of artificial intelligence marketing at the most basic level, there is obviously much more that goes into it. But why is it so important?
Why is AI Marketing important?
The growth of artificial intelligence within digital marketing is massive, a recent study by Smart Insights shows that out of 100 senior marketers from different industries, 55 percent of companies are implementing or already considering using AI in their marketing practices.
Why is that?
AI Marketing (AIM) allows marketers to crunch huge amounts of marketing data, from sources including social media, emails, and the Web quicker than before. Allowing the marketers to respond to their campaign performance in a shorter time-frame. This gifts marketers and business owners more time to focus on other equally important tasks.
Another reason why AI in marketing is important is, that 76% of customers expect companies to understand their needs and expectations.
AIM will help content marketers understand who exactly their target audience is which will minimise waste on targeting the wrong audience and thereby creating a personal experience for customers.
64% of B2B organizations and 59% of B2C organisations planned on increasing their AI capabilities in 2018. and this figure will increase by 2020 with the increased use of chatbots.
How Artificial Intelligence Is Changing In 2020
According to Forbes, the adoption of AI and machine learning (ML) in R&D is the fastest of all enterprise departments in 2019.
Sales and marketing use AI more than any other department in enterprises today.
Why do an increasing number of companies use AI in their marketing and other business processes? AI promotes efficiency by optimising and speeding up complex tasks. A growing use of AI in business is chatbots and most chatbots currently available now, whether used for customer service, auto-responses, or sales, heavily rely on human-powered branching logic and series of if-then statements to function.
AI in marketing provides valuable information on every visit, including the time of day, the geolocation of the user, the type of device the website is accessed from, and other data points that are priceless in creating a smooth customer experience, and create growth in sales conversions.
A case study found that a website focussed tightly on its customer personas resulted in a 900% increase in visit duration and a 171% increase in marketing-generated revenue. AI in marketing is a reliable insight into buyer personas. These fictional representations of buyers or customers help businesses target their marketing to a specific audience persona.
Core Benefits of Artificial Intelligence Marketing
So, what does this mean for marketing teams? AI marketing has been gaining more attention among marketers because of the insights it provides.
Customer service and retention is another area where AI will play a huge role in the future. Soon, chat functions and other direct-to-consumer engagement avenues will be run by AI bots. Many companies can save employee time and expenditures with these tactics. AI bots also have access to the internet’s worth of data, information, and search histories, making them much more efficient than their human counterparts. And that’s no small amount, it’s estimated the big 4, Google, Amazon, Microsoft, and Facebook. hold at least 1,200 petabytes between them. That is 1.2 million terabytes, and that’s only the big 4 players, AI has all this information and more at its fingertips to help satisfy your customers and target audience. So, AI bots should not be overlooked, nor thought of as a future invention, they’re here now.