AI technologies can provide value across multiple industries, as we’ve mentioned in our first blog post, but what about marketing in particular? There has been a growth in discussions around AI in marketing and most experts agree – AI is capable of freeing up a marketers’ plate by delegating tasks to machines. The result – marketing managers are focusing their efforts on more creative, strategic tasks that cannot be automated and which ultimately drive sustainable business growth.
The below infographic from Business Insider Intelligence report presents a clear trend – AI is a marketing technology with the largest anticipated growth, and hence one that we should all be paying attention to.
Top 5 picks how AI technologies enhance marketing
1. Improve user experience
Content remains king for marketers worldwide, but personalized content is what can drastically improve conversion rates and provide a pleasant user experience for potential customers. The more tailored and relevant the content the user is viewing – the more likely he or she is to convert.
AI can collect data and decide which content is most applicable to each specific user based on location, historical data and past behavior. Probably one of the best examples of providing tailored content is Netflix with their movie and TV series recommendations. You may have realized that behind the “98% match” statistic is a powerful AI algorithm that has analyzed what types of movies you’ve enjoyed most and why. Seeing tailored content regardless of type of business will give the user the impression that the company fits them perfectly and can answer their needs best, thus enticing them to make a purchase or initiate conversation.
2. Predictive analytics
For marketers, data collected about users visiting their website can be extremely valuable as it provides an opportunity to evaluate which pages and content are performing better and why. Now imagine, having access to customer behavior analytics not just from your website but also what that user has done across the internet?
With the help of various data management platforms AI can collect information about users across the internet, providing managers with information that can help target potential leads and not focus efforts on people that are unlikely to convert.
3. Social media sentiment analysis
Sentiment analysis is used to determine the attitude and emotion expressed in a text. Typically, the text data is gathered from blogs, social networks and forums and after the examination, real-time insights are provided so that employees can react efficiently to customer complaints and gain a better understanding of how they feel about a company. Let’s say you have posted a picture of a newly released product and are wondering how your community is liking it. With AI - instead of scrolling through the comments and looking for relevant mentions, you can just access your insights dashboard and see what the overall response is.
4. Context aware marketing
Context is a crucial part of any marketing campaign. Imagine: you are watching a video of a car crash when it is interrupted by an automobile advertisement. Or, you are reading about the worst kinds of shoes to wear in winter and you see the ad for one of those shoes on the same page. Clearly it was not the intention of the company to have their advertisements placed so inconveniently, potentially hurting their image as opposed to helping it.
To solve these issues machine vision and Natural Language Processing (NLP) can be leveraged to understand the context of where the company ads are to be served. With these technologies companies can protect their brand image and increase marketing efficiency by making sure their message is compatible with the context of the website.
5. Personalized marketing
At this point, consumers are aware that data is continuously being gathered while they browse the web. With this awareness comes an expectation – that companies will use their data to provide better user experiences through personalization. Hence, marketers are placing a lot of effort in ad targeting and customer segmentation – which as you may have guessed can be improved through AI technologies. Specifically, AI can target audiences based on their browsing behavior, completed purchases, past likes, and comments – allowing companies to identify groups of people with similar interests and tailor campaigns to that specific demographic.
Marketers agree that personalization helps their companies not only build meaningful customer relationships but also increase sales by making the customer feel understood and hence more eager to purchase.
When used efficiently AI technologies have the power to improve user experiences, predict customer behavior, perform social media sentiment analysis and ensure that your marketing efforts are always context aware. However, it is important to mention that none of this is possible without quality data, so make sure that your company is maximizing its potential by efficiently gathering the data it has access to or contact us to get a personalized recommendation on how AI can help your marketing efforts!