WHY IS ARTIFICIAL INTELLIGENCE IMPORTANT IN MARKETING 2022
Since the pandemic, Artificial Intelligence (AI) has transformed almost every aspect of business operation across all industries. One of the vital areas where AI has been employed extensively is marketing. AI in the form of AI chatbots, marketing automation, and more have been used to boost marketing efficiency, reduce workload, enhance the customer experience, and drive conversions.
What is Artificial Intelligence (AI) marketing?
AI marketing is the use of AI technologies to make automated marketing decisions based on data gathered and its analysis, and monitoring of audience and economic trends. An AI is often employed in those areas of marketing where speed is required.
AI tools use customer data and profiles to learn to communicate rightly with customers and then send them tailored messages at the right time without human intervention. Some of the uses cases of AI marketing use cases are:-
- Natural Language Processing
- Data Analysis
- Content Generation
- Real-Time Personalization
- Automated Decision Making
Why is AI marketing Important?
Nowadays, AI has been so impactful in digital marketing. Studies say that 61% of marketers report it to be the most crucial facet of their data strategy. And 80% of tech and business leaders say that it increases productivity.
For, the majority of customers expect brands and businesses to understand their expectations and needs. And AI marketing enables this by facilitating marketers to quickly analyze plenty of marketing data from different marketing channels like the web, emails, social media, and more. This makes AI marketing indispensable for brands and businesses.
What are the benefits of AI marketing?
With AI, your marketing automation becomes smarter and more intelligent. AI can blend with marketing automation to derive actionable insights, facilitate data-based decisions, and enable meaningful interactions to generate favorable results for your business. The best thing is that it can perform these in a speedy and accurate manner. And this in turn facilitates scaling.
Executing marketing tasks manually can bring poor results at times due to committing errors. AI can come as a handy solution here as it eliminates human intervention to avoid the chances of human error. This especially can prove to be of immense help when it comes to data security. For, companies can protect their critical business data and customer data using AI.
Businesses can hand over their repetitive and mundane tasks to AI. This can help save costs associated with staffing. Furthermore, because AI can assist in completing these jobs more efficiently, swiftly, and without errors, a company’s productivity and income generation will grow. For instance, you can use AI to come up with a variety of email subject lines and A/B test those. This will not only speed up the process but also generate better outcomes.
AI marketing can help businesses and their marketers better comprehend audiences, gain greater customer insights, and enhance customer experiences. For, it helps create a predictive customer analysis and design a more targeted and tailored customer journey, which increases conversions and ROI. A deep understanding of customers also helps businesses maximize ROI without wasting budgets on useless efforts.
Faster and smarter decision-making:
AI helps collect, monitor, and analyze tactical data in real-time. This helps marketing teams make the right decisions whenever needed without having to wait for the campaigns to end. Thus, they can assist in making smarter decisions faster.
AI Marketing Application Areas
Now that you got to know the importance and advantages of AI marketing, here are several use cases of it.
Chatbots are the most common applications of AI today. E-commerce stores and other websites use AI-powered chatbots to deliver quick and better customer service. These respond to the frequently asked queries from customers pleasingly and tirelessly. Besides, they can also deliver well-tailored and personalized experiences. So, brands use this to-
- Showcase their brand’s personality
- Promote conversational marketing
- Enhance their lead generation process
- Keep their subscribers up-to-date
- Facilitate omnichannel marketing
- Make suggestions and product recommendations
The best thing is that when things go beyond their limit or capability, AI-powered chatbots direct customer queries to the right human agents.
When used alongside high-quality market research data, AI is a powerful tool. One common use case is target-group segmentation through marketing automation software. AI is far more efficient and quicker at carrying out this task than human beings. Effective segmentation can help businesses can make more personalized offers that can boost conversion rates.
For instance, e-commerce businesses seeking to promote their range of baby products can use AI to find those families who have been regularly buying these products and then run targeted campaigns. This in turn would improve sales.
Predictive Marketing Analytics
Another area where AI is used in marketing is predictive analytics. That is, using analytics to predict the expectations of individual customers. Businesses employ AI to analyze data of past events. This helps them to accurately and reasonably infer what users are most likely to prefer. And based on that, it recommends products to them.
For instance, the e-commerce giant Amazon uses AI to know what a customer has purchased in the past. Based on this, it recommends products to them in their feed. Besides, it also makes suggestions based on what other users like you are interested in. These two strategies make its suggestions highly personalized. This increases its website conversions.
Demand Forecasting & Dynamic Pricing
Another vital area where AI marketing is applied is demand forecasting and dynamic pricing. Here AI is employed to evaluate world events, consumer interests, and more to determine the likely rise in demand for some products. For instance, if e-stores had predicted a pandemic, they’d have stocked up on commodities like medicine, toilet paper, sanitizer, masks, etc. in advance.
If global circumstances like these can be predicted, businesses can begin stockpiling items that will be in high demand right once. This can also be used to raise the price of specific things automatically and dynamically.. Besides, this can also help control stock better by preventing customers from bulk purchasing beyond reasonable quantities.
AI is currently used in content creation for suggesting human writers on coming up with grammatically correct and error-free content. Some examples of these applications include Grammarly, Google Docs, SEMRush, Microsoft Word, Microsoft Editor, Yoast, etc.
Other content creation areas where AI helps are-
- Creating copyright-free images of fictional objects, animals, and people.
- Upscaling images
- Restoring and painting cut away parts of images
- Converting photos into painting and sketches of different styles
- Generating new human poses and face frontal view
AI in PPC advertising. Brands enhance their PPC ads via AI enhancement. AI can aid in effortlessly monitoring advertising platforms in a way your human marketing team cannot. AI-enhanced PPC advertising can cover the following aspects-
- Micro-moment targeting
- Smart bidding
- Responsive ads
- Account management
- Dynamic search ads
- Performance analysis
- Price optimization
And this in turn can give you an edge over your competitors.
Yet another use case of AI marketing is speech recognition, which is becoming increasingly important in the niches of content marketing and SEO. In this case, AI is utilized to recognize spoken words and/or convert them to text. Voice content, such as podcasts, movies, and online tools, is becoming increasingly tailored for voice inquiries rather than text keywords.
The AI-based voice recognition technology is finding itself being applied to more advanced applications. For instance, evaluating moods and detecting depression in healthcare, automatic transcription for typing client sales notes for enabling immediate filings from Zoom calls, aiding people with sight or speech challenges, etc.
Artificial Intelligence has been dramatically changing the landscape of digital marketing in recent years. And it is one thing that’s already shaping its future as well. If you haven’t yet incorporated it into your marketing, it’s time you do so. For, early adopters will make the best gains out of advanced technology of this sort.
This blog has discussed the benefits of Artificial Intelligence marketing and presented seven application areas of it. So, do derive insights from our blog to incorporate Artificial Intelligence in your marketing.
Shivani is a content writer at NotifyVisitors, which provides Chatbots that allows businesses to engage with customers alongside the excellent customer service channels of phone, email, and social media.