Artificial intelligence has been around for a while – disrupting every industry, killing many jobs, and creating many more jobs and industries. The impact of AI can be well seen in the field of marketing as well since more and more developed marketing software and martech tools have come into the picture.
Initially, AI was used in e-commerce to create customized experiences for buyers. Now, the situation has changed a lot. According to Salesforce Research’s State of Marketing Study, marketers’ use of AI jumped from just 29% in 2018 to a whopping 84% in 2020. How is it that AI has impacted the future of marketing? To understand this, it is important to know about AI and the areas it impacts marketing.
What is AI Programming?
AI programming is a rather broad term that encompasses all of the various coding languages used to create, train and implement artificial intelligence. While there are quite a few different programming languages that can be used, C ++, Java, Lisp, Prolog, Python, and R are the most commonly used languages.
What are the Core Elements of AI Marketing?
When it comes to implementing AI in marketing, there are a few different elements that are particularly useful. These are:
Big DataBig data is essentially making use of data mining tools to sort through volumes of data and extract actionable insights from the data. Marketers make use of big data to sort through and manage their databases and create customer profiles that further aid their lead generation efforts.
Machine LearningMachine learning is a way to feed data into a program and have the code make assumptions based on the data patterns. Marketers make use of machine learning in order to better target their ads to optimize their budgets.
What are the Future Benefits of AI in Marketing?
Making use of AI in marketing has been proven to show amazing results. According to Salesforce Research’s study, 70% of high-performance marketing teams claim they have a fully defined AI strategy versus 35% of their under-performing peer marketing team counterparts. Artificial intelligence has taken the field of marketing by storm and has really helped companies grow.
Here are some of the key areas where artificial intelligence can boost marketing efforts:
Improved product and content recommendationsAI, big data, and machine learning can all come in very handy to help profile the customer base. Once the customer profiling is done, your content and product recommendations to them will also be very precise. This will ensure their loyalty and satisfaction.
Better social engagement and customer serviceAI can analyze all the user data and show you what works for each user. Not only that, but it can also keep you ahead of the trends and make sure you are producing the right content and answering all your customer queries.
Improved search engine rankingsSince AI can keep a track of your chosen keywords and content recommendations for your audiences, marketers can focus on creating content around high-ranking keywords. AI can also help marketers assess the SEO strength of their content and improvement areas.
Smarter ads:As online advertisements keep rising in popularity, AI can help personalize the ads that each user sees. This could increase the CTR and ad revenue drastically. Optimizing web-ad performance is vital to the cost-optimization in marketing strategy and beneficial for all stakeholders, building better brands, and more enjoyable experiences for web-users. While AI has many advantages, these are the most prominent ones that can lead to an increase in revenue for the company and betters figures on the KRAs. However, there is a flop side to every coin. AI may seem to be a revolutionary component of your marketing strategy, but it has a few disadvantages. These are:
- AI is expensive – All good things come at a price, as does AI. Incorporating AI software into your CRM and CMS systems as well as training your marketing department to use and implement this software on a daily basis all cost a lot.
- AI could lead to unemployment – Since AI can take care of a lot of tasks at once, it could render certain team members’ jobs unnecessary. Therefore, it is in the company’s best interest to first evaluate the budgets and needs and then choose the right software.
However, as is pretty evident, the pros of incorporating AI into your marketing stack well outweigh the cons.
Future of AI Software Programmers
IDC reports that 75% of commercial enterprise apps will use AI by 2021. Gartner, on the other hand, reports that by 2021, 80% of emerging technologies will have AI foundations. The report also states that the number of enterprises using AI in business grew by 270% between 2015 and 2019. As more and more companies start witnessing the tremendous potential that AI holds for them, the future of AI software programmers looks bright. However, there could be one notable disadvantage of AI is that it is too advance and may soon be able to write its own code. Therefore, AI software programmers must monetize this opportunity as soon as possible.
Forbes says that 83% of businesses say AI is a strategic priority for their businesses. Therefore, there is a very solid case for how artificial intelligence can pave the way for the future of marketing.
Want to start implementing some of these best practices for artificial intelligence into your enterprise? Contact Byonic.AI today for a demo and get assistance in prioritizing AI-based solutions for greater results. Schedule a call today.