Artificial Intelligence (AI) is revolutionizing the way companies engage, direct and convert their customers. With AI, you can quickly identify customer trends, spot patterns, and use predictive analytics to uncover growth opportunities.
What is AI in marketing?
In marketing, AI focuses on understanding data, making predictions, and planning actions based on past experiences.
AI is a powerful tool that can be used to improve the effectiveness of your marketing strategy, but it should not be confused with automation. Automation uses algorithms to predict future actions and create rules based on past data. AI is better suited to understanding customer behavior and detecting patterns in what they do and want.
AI-Based Marketing Challenges
Despite its potential, AI-based marketing is still in its infancy and experiencing growth difficulties as companies figure out how to implement the technology. Some of the biggest challenges are demonstrating the business value of AI and ensuring that the technology is used safely and ethically. As AI-based marketing matures, the challenges will likely become more apparent and manageable, making it easier for companies to understand how to implement the technology. Demonstrating the business value of AI-based marketing will be a key challenge for companies to overcome as the technology continues to mature.
Best Practices for AI-Based Marketing
Before launching into creating an AI-based marketing strategy, companies need to determine what benefits they expect to derive from it. They need to map out the customer journey and track all customer interactions to identify key data points, including what content is being viewed, what actions are being taken, when the interactions are occurring, and where they are occurring. With the data in hand, companies can begin to create their customer profiles and understand their behaviors. They can use machine learning and natural language processing to create differentiated customer experiences, including voice responses and contextual messages.
Examples of AI-based marketing campaigns
Now companies can create personalized experiences based on the behavior of each customer. For example, a mortgage company can use AI to identify that a customer is likely to miss a payment and tell them that they have until a certain date to pay. Another example is that of a fast food that wants to create a personalized campaign aimed at encouraging customers to return to the restaurant once they have finished their meal. An AI-based system can be used to listen in on conversations and identify the words customers are using. These conversations could be used to create personalized content or triggered by certain words or phrases. Businesses can also use AI to optimize online presence and automate maintenance tasks like web scraping and website monitoring. AI can be used to identify and fix errors on websites and social media channels.
