AI marketing is the use of artificial intelligence technologies to make actions and decisions about data analysis, personalization and data collection automated. AI marketing can also take audience trends, spending trends, retail trends, and economic trends to make significant observations and outcomes on overall marketing efforts. When speed and quality is of the essence, AI tools can help marketers relate to customers with tailored messaging and specific product or service details when they need to make a decision. Buyer personas and customer profiles are used to tailor these messages so human marketers don’t have to get involved. With AI marketing, marketers can save much of their time and effort on more strategic and tactical tasks.
The Importance of AI Marketing
AI tools allow customers to accumulate large volumes of marketing analysis data from emails, social media pages, and the world wide web while helping them to boost ROI and campaign performance. AI marketing can also result in better customer relationships between brands and their clients as well as automated real-time personalization at the right time in the consumer lifecycle. Additionally, with so many data points and campaign metrics to keep up with, dashboards that put AI to use can allow for a more thorough and comprehensive view of channels, budgets and outcomes.
Using AI Marketing
Artificial intelligence technology can be used in the following ways when it comes to integrating it in marketing campaigns and measurements:
· Take conversion management to the next level
Data gathered from AI is enough to find out whether a buyer is interested in the product or not. There’s no need to ask strategic and difficult questions to the audience.
· Understand buyers
With AI marketing solutions, you get to know how your customers feel, talk, interact, and prefer. The tools join real-time conversations to gain large chunks of data.
· Follow current trends
Having difficulty in knowing what is working and what is not working in the industry? AI can help decipher fact from fiction and give you analytical insights into your customer base and trends they are following.
· Automated ad targeting
Marketers are using software-driven technologies to make the buying process easier and shorter.
· Use of conversational bots
Customer service chatbots assist the customers with queries and problems 24 hours a day.
· Voice recognition
Marketers make use of speech recognition to convert people from traditional shopping to voice shopping.
· Content creation
Content intelligence is used to generate personalized content for self-sustaining websites including infographics, charts, financial reports, etc.
· Personalized Pricing
Marketers are now using AI to determine the dynamic pricing of a product whenever the demand increases or decreases.
Elements of AI Marketing
There are several elements to keep in mind when using AI and marketing. Some of these elements go hand-in-hand with AI itself while others serve as components to the overall strategy.
· Big Data
AI and big data go hand in hand when it comes to working with large quantities of data and get insights in real-time.
· Machine Learning
Machine learning helps a user to highlight trends, consumer behavior, and expected responses to marketing campaigns.
· Robust Solutions
Predictive marketing analytics solutions by AI allow marketers to predict user-intent and consumer behavior.
Benefits of AI Marketing
- High campaign performance and increase in Return on investment
- Improved recommendations and content personalization
- Better management of campaigns and consumer reports
- Improved team efficiency
- Advanced personalization and a better understanding of consumer behavior
- Data-driven and fast marketing decisions
Challenges in AI Marketing
AI marketing tools are still in their development stages. Therefore, marketers face certain challenges integrating them, such as:
· Lack of data quality and training time
Marketing teams require proper and extended training sessions to gather quality customer info, preferences, trends, and historic data.
· Lack of Data Privacy
Data breaches are not allowing organizations to use consumer data ethically. Thereby, damaging their reputation.
· No measurement Abilities
It is difficult to explain the value of AI marketing tools to stakeholders. Marketing teams should be able to measure the success and conversion rate and help stakeholders to agree to AI investments.
- Adapting to the ever-evolving era
Day-to-day marketing operations are evolving, thanks to AI. However, many marketers are not ready to leave traditional marketing strategies behind.
Examples of AI Marketing
- Target the right audience
- Convey the right information
- Advanced personalization and recommendations
- Better user experience through automated conversational bots
- Real-time data processing for predictive analysis of marketing campaigns
- Dynamic product pricing
Current trends and predictions for AI Marketing
Headed into 2021, there are three main predictions and trends that you will want to know:
· AI is developing…always
It is just the start and content creators and marketers will have to adapt to the many nuisances and changes. Brands already using AI tools are gaining outsized benefits such as heavy traffic, better website rankings, increased reach, and customer satisfaction. This list will only continue to grow as AI becomes more refined in its approach.
· Marketing teams are exploring AI options
AI has yielded benefits in almost every industry imaginable. Sooner or later, it will be used by all future marketers to convert from outdated processes to real-time data extraction process and using data analysis for real-time outcomes.
· AI users will be dominant in the industry
Consumers go with brands who are open to adaption and change. With AI-powered SEO and marketing strategies, futuristic marketers will be dominant and will replace those who oppose the use of AI tools in marketing.
Marketers are implementing creative and innovative AI solutions to their marketing stack every day. If you have not implementing an AI-based marketing tool in your strategy, it may be time you use advanced learning algorithms to take over the marketing industry. Byonic.AI is a fully integrated demand generation platform that blends account intelligence, content and creatives, as well as analytical insights into a single platform. Ready for a demo? Reach out to us today and see what Byonic.AI can add to your marketing stack.