Artificial Intelligence was once thought of as something that only major corporations could afford.
This is still the case for some of the more advanced software out there. However, there has been a shift in the last few years. AI in marketing has now become a very viable option for companies on a smaller budget.
However, it may not be clear to everyone that AI has the ability to completely transform the day to day working lives of marketers as well. Which in the long run will ultimately be for the better.
Let’s find out how…
1. It Will Free Up More Time
Marketing is about creativity. It’s about creating that unique voice for the brand and building emotional connections with consumers. However, 51 per cent of marketers feel they spend too much time analyzing data in their day to day work.
Too much of a marketers time is also spent creating weekly and monthly reports. What if a virtual assistant could do this instead? Creating in-depth graphs and drawing its own conclusions? AI has made this reality.
With the help of AI, marketers have more time to get a creative, brainstorm and develop even more amazing campaigns.
2. It is Already Working For Your Competitors
AI-powered technology has enabled one-to-one marketing. This means it can feed off the vast amounts of customer data, learning about each of your customers as individuals.
Offering your customers an incentive at the right time and which AI has determined is best suited to them. Determining the best time to send a marketing email or personalised product recommendation.
In a survey of over 206 digital marketers; 96% of respondents praised the ability of personalisation to advance customer relationships. 49% say they have purchased a product that they did not initially intend to buy after receiving a personalised recommendation from a brand.
The more personalised your marketing efforts, the more successful those efforts will be.
3. AI in Marketing Has The Ability to Empower Truly Data-Driven Decision Making
According to reports, Marketers use less than 5% of available data to make decisions. So how can a decision be truly “data-driven” if 95% of the data isn’t being analysed? Well, obviously it can’t.
The pure scale of big data makes it very difficult for the human brain to take it all into account. Besides, this is not the primary role of a marketer in the first place.AI in marketing allows marketers to finally harness 100% of the data, so they can make truly data-driven decisions.
4. A Revolution in Customer Experience
AI, paired with big data has the power to completely revolutionise the customer experience.
Personalisation is key. Once again AI is used to wade through massive amounts of data in order to find out what really matters to customers. Which in turns leads to more highly targeted advertising. Driving sales.
Wave goodbye to stagnant FAQ’s and call centres. Chatbots allow your customers to communicate with simple voice or text commands instead of having to waste time on the phone.
75% of consumers demand a response within five minutes or they may cut themselves off from the brand entirely. Automating this process eliminates wait time and in turn, increases customer satisfaction 🙂
When customer experience is improved upon in these small ways, there will only ever be one outcome…
5. A Return On Investment
By optimising customer experience alone marketers can achieve revenue growth of 5 to 10%.
A recent study found that Netflix has saved around 1 billion dollars using AI-powered systems to reduce churn.
When marketers have the tools and time to be creative, they make better experiences for consumers. When consumers enjoy an experience, they respond to it. That’s the name of the game.