Businesses all over the world are using AI to provide better customer service and personalization to their customers. Advanced AI approaches are being applied in the marketing area as well, because of their amazing potential for analyzing data and generating valuable insights, thereby assisting commercial organizations in making better business decisions.
In fact, with the increased focus on consumer data, nearly half of all worldwide marketing professionals have turned to artificial intelligence (AI) to assist with data analysis. Marketing segmentation, audience identification, email campaign automation, and customer service automation are just a few of the other applications.
5 Marketing Applications of Artificial Intelligence!
Marketers may use artificial intelligence to create highly tailored consumer experiences at a fraction of the expense of traditional high-dollar campaigns. Every encounter a prospect or customer makes with a product or service is recorded for future use.
With Artificial Intelligence Marketing poised to take over the marketing business, it’s more crucial than ever for marketers to understand the advantages of leveraging this fantastic technology. Artificial Intelligence is employed in marketing in five different ways. Continue reading to learn more about the advantages of utilizing Artificial Intelligence in marketing.
1- Raise the bar on sales forecasting!
“How is AI used in marketing?” is a common topic these days. Businesses are interested in learning more about how AI may be used in marketing. Artificial Intelligence is used in marketing in a variety of ways, including sales forecasting. Artificial intelligence (AI) takes sales forecasting to the next level. When it comes to determining long-term business growth, sales forecasting is critical. Despite the fact that salespeople devote a significant amount of time and attention to this process, most firms fail to achieve the required profits as a result of their sales forecasting tactics.
Companies with precise sales predictions are 10% more likely to raise revenue year over year and 7% more likely to meet quota, according to studies. Many challenges related to weighted pipelines and other traditional forecasting approaches can be resolved by using Artificial Intelligence. This is how artificial intelligence (AI) is used in marketing. AI aids in the improvement of sales forecasting accuracy. Businesses may empower themselves with greater lead scoring skills, allowing them to properly evaluate the fate of sales leads and develop more accurate sales projections, by harnessing AI benefits.
2- It foresees user behavior!
Marketers may learn about customer preferences and likes, as well as how they feel about your business, using AI solutions. Businesses can devise marketing strategies to ensure effective branding of their products and services by researching client shopping behavior.
Predicting client behavior has been a lot easier because of recent advances in AI, which has opened up new chances to target items to the correct audience. Machine learning algorithms are used in Artificial Intelligence-driven tools and instruments to analyze customer experience in order to build effective marketing strategies and programs to boost consumer engagement. All thanks to artificial intelligence (AI) in marketing!
3- Makes your digital advertising campaigns more effective!
One of the ways AI is used in marketing is to optimize digital advertising efforts. For better and more efficient digital marketing campaigns, AI-driven solutions assist in gaining deeper insights into consumer data concealed in keyword searches, social profiles, and other online data.
Naomi Simson, a Shark Tank Australia host, is the owner of RedBalloon, a firm that sells gifts and experiences online. She was spending $45,000 per month on marketing firms to manage digital advertising for the brand, which was costing her a lot of money.
She discovered Albert, an AI advertising platform while looking for methods to save money. This tool analyses ad campaigns manage targeting, testing, and budgeting using Artificial Intelligence. The technology was able to evaluate 6,500 different permutations of a Google text ad and learn from it. Using this AI-based technique, the company was able to generate a 1,100 percent return on ad spend. Furthermore, it was able to reduce marketing costs by 25%.
4- Develop in-depth consumer profiles!
AI technologies give marketers a better understanding of their customers, prospects, and clients. Businesses can use Artificial Intelligence to send the appropriate message to the right person at the right time.
It’s critical to collect all data throughout each consumer interaction if you want to develop a really comprehensive consumer profile. Marketers can utilize AI technologies to assess these consumer profiles in order to create highly tailored marketing campaigns and content.
5- Participate in Real-Time Consumer Conversations!
One of the most appealing aspects of employing AI in marketing is the ability to analyze client interactions in real-time. Businesses may connect with customers in reality through online chats or events using AI-powered solutions.
Consumer communication has a significant impact on the ‘decision-making moment.’ It has a direct impact on purchasing decisions. AI assists marketers, analysts, and strategists in identifying meaningful conversations in social media and other open venues.
According to Salesforce’s State of Marketing study from 2018, 52 percent of consumers are more likely to switch brands if they don’t receive individualized communication. With more enterprises entering the market than ever before, the demand for excellent customer service has risen to unprecedented levels. Intelligent messaging powered by AI can enhance the entire user experience.
Final Thoughts
I’m sure you’ve gotten a good sense of the various advantages of adopting Artificial Intelligence in marketing by now. It’s now more important than ever for marketers to grasp how AI-driven initiatives may help them develop highly tailored client experiences.
Marketers should devote time and resources to using AI strategies in marketing to boost corporate success, with Artificial Intelligence positioned to continue rising across all industries and segments.