5 promising reasons for marketers to confide on Artificial Intelligence
Although Artificial Intelligence (AI) has gained its relevance to human life via Hollywood movies, and earned its reputation as the bearer of doomsday for the humankind, (especially the Terminator series, which portrays the calamitous side of machines that wreck havoc), in real-world existence and in all sensibility, things are pretty ‘different’.
Whether you have noticed or not, AI is all around you, all you got to do is put your glasses on and just keep your eyes open.
For instance, the recommendations for new books or movies from Netflix and Amazon based on previous preferences, digital assistants found in smartphones (like Microsoft Cortana and Apple’s Siri), Google Now that helps drivers find the best way to their destination, are all nothing but AI. Never knew how AI has become a part of our life, isn’t it?
Speaking from a commercial standpoint, AI can simply be put as a futuristic trend that smart marketers adapt to dig deep into the taste and preference of the customers and cash on their penchant. In a bid to establish industry authority, designate AI as the important decision maker of your company and rake in the moolah for sure.
AI is creating waves
If you go by Forbes research, by 2019 AI will be the core of operation for marketers all over. But why this trusted belief has emerged?
For any online marketer these days, there are two major hurdles to cross before marking their presence in the industry.
1. Operating and enhancing the productivity in marketing operations
2. Distributing customized and relevant experiences in every channel
Those who are in the business are familiar with the depth and intricacy of such hurdles, and that is why they give their consent and vote to investments in marketing automation for organizations to hit it big.
Facts and figures
Market reports from all over the world confirm the usage of AI by big brands in almost every industry to connect more deeply with customers and fill that buyer-seller gap. Going by this speed, the top-notch industry heads corroborate that by 2019, the total investment in AI will reach somewhat to $31 billion.
Walking on the same path, Accenture states that the economic growth will hit an all-time high by 2035 (almost doubling it) and labor productivity will perk up by 40%.
If we go by popularity quotient, AI has become a commonly used term on account of IBM Watson, the cognitive engine program that combines machine learning and natural language. Usage of Waston across 45 industries in the present era testifies the weightiness of the tool on a broader dais.
Companies using AI
Not everyone is a big fan of Watson. USSA (an insurance and financial service company) uses EVA, its online virtual assistant as its AI counterpart.
BMW, the renowned automobile company, sticks to the expert guidance of AI to get one step better in customer satisfaction. Its AI version can find destinations with the car, find the best route available, and schedule trips.
KLM, the Netherland-based air carrier company use AI as the means to reach out to its customer and establish a bond, to answer the 60000 staggering people had.
Why need AI for Social media marketing?
For every marketing professional, the growing importance of social media is an everyday fact to ponder. Like it or hate it, the essence of social media cannot be denied as most of the (potential) customers lie there.
Emerging as the most convenient tool for customers and brands to interact, social media has its own share of glitch to talk about. Every day, thousands of Facebook posts and Twitter upgrades come up for big organizations, and this has looming concern for small entities. So is automation the solution?
Even automation has its own cutoff point, and to dodge this drawback of technology, AI comes in. The power to map out the engagement options for customers on social media is what separates AI from the rest.
AI pushes marketing beyond limits
The journey of marketing begins with SEO, content promotion and other forms of earned media that can lure customers to your site and set off the buying process.
AI and other propensity models along with it is typically used at this stage to pull in more customers with the rope of rich engaging experience.
AI can make strides for your marketing maneuvers by:
Generating smart content
Tagged as one of the important aspects of marketing, content is something that needs special care and the guidance of an expert. Although AI content writing programs are unfit for any political advice or blog posts, they can give shape to a human-sounding editorial. Wordsmith is one such program that produces more than 1.4 billion such content pieces like market data, yearly reports etc.
Delivering improved targeting
Every proficient marketer would agree on the fact that targeting is the most significant aspect of your online marketing campaign, since it directly impacts the ROI estimated, and the ad, the landing page and almost everything else is secondary.
Usage of AI in marketing helps in easy targeting via:
• Education level
• Family status
• Place of employment
Recommending chatbots to answer
Using chatbots in daily business operations is the best way to relate AI with marketing. Chatbots are nothing but virtual assistants that do all the necessary talking with customers to build faith.
Usage of chatbots gives owners the confidence to complete vast amounts of work in no time and perk up the productivity level.
Enhancing the user experience
Although voiced with different schools of thought about using AI to enhance customer experience, the intention has been the same.
Usage of AI as a part of marketing strategy enables the users of the website to provide with more vivid visual experience and the confidence of being relevant to the ever-changing technology.
Improves online recommendations
Using predictive analytics Flipkart, Netflix, and other such portals come up with suggestions to enable the users to derive the best from their subscription. This is one of the most common usages of AI over the years.
In tune with this, Under Armour, one of the well-known apparel companies that use AI to combine the data of its customers and delivers some of the best fitness and nutrition based products for the mass.
The bottom line is- AI intends to make life easier with smart adaptive technology. AI is nothing but ‘aggregate wisdom’ that is emerging as the heart of modern-day marketing since it keeps a tab on customer experience.
Generating crucial insights for better targeting, analyzing what customers want beyond sentiment analysis and the possibility to talk to customers 24/7 in the most humane way possible is what raises the bar of AI at the marketing level.
It’s an era of self-driving cars or talking to AI customer representatives over a call. Technology has taken a big leap in the last few years and with it the scope of marketing. The only way marketing promotions and annual revenue can walk hand-in-hand is by the use of AI in the best possible way, and at SPIN we specialize in that.
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