There are many ways of describing marketing, one of which is by advertising, flyers, or even just printing ads. This activity attracts and encourages individuals to endorse a brand or products and services of a business. The distinction between the old way and the industry’s new approach is noticeable. Using Artificial Intelligence (AI), various companies are depending on their reliable efficiency to grow their business.
The question is, what are the things you need to know about AI Marketing, and how does it affect your company? We’ve gathered some helpful guides for digging deep into AI Marketing in this post.
What is AI Marketing?
AI stands for Artificial Intelligence, a software built in a machine that can think on its own without any human intervention. The primary role of AI is to see patterns routinely made by humans and have their way of solving a problem. On the other hand, Marketing is the process where the company uses to lure the public to use their products or services. With the two being combined, it creates endless possibilities in making a new wave of processes that can help businesses grow instantly.
Experts believe that about half of the manual tasks will be automated over the next 10 to 20 years. For others, it can both be an advantage and a drawback. Why? Let’s say an entrepreneur has an online company and has recruited a few workers to respond to customer inquiries or concerns, but if you add a chatbot to your online platform, it will be able to respond to you with fewer numbers of employees that will save you a lot of money.
Predictive Analytics
This amazing capability of AI Marketing comes in handy for predicting future outcomes from the company’s data or also called Data analysis. According to experts, it can easily pre-determined what will be the next step or the right move to take and helps to answer the company’s business questions such as below.
- How many percentages does a customer buy the product?
- How many customers will stop supporting them to buy products?
- What is the rate of customers who are likely to buy annually?
- What are the traits of each of my customers?
Predictive analytics can answer them in real-time and saves a lot of time and effort in analyzing them manually. It creates a better customer experience as it targets the exact wants and needs of each individual. Not only will you predict the result but also the chase to obtain loyal customers as well.
Clustering and Customization
This is a combination of supervised and unsupervised learning. It is a process where each customer is being categorized according to what are their usual activities on the site. For instance, customer A usually searches and buys boho-inspired home furniture, while customer B likely to lean more toward minimalist designs. All customers that have the same taste will go together under each category. According to the digital marketing experts at smartboost.com, making segments will fasten the process of knowing how many percentages the outcome may be. It can make your company grow and build its reputation by making the customer experience personalized.
Recommendation Engines
The method used by advertisers before that is the if-and-then method, posing the question, what if? To distinguish cause or scenario in running a company. It looks for patterns based on the metrics collected data, can detect or predict potential problems with the aid of AI technology. It advises or suggests a necessary behavior after analysis. It is an essential way to avoid bumping into major issues in the future.
Natural Language Processing
One of the most important parts of AI Marketing is Natural Language Processing; it indicates how the customer feels, what they say about the product, or how much they like using it. Simple as it may sound, but it helps to know the feedback of each customer to be able to adapt and grow from it.
Psychographic
It is where the personality, interests, attitude, and behavior of customers have. Uncovering who they are and why they buy the product or avail the services. It is also a crucial factor to build a strong structure in AI Marketing.
With the aid of technology that paves the way to speed up long hours of work in a minute or two, marketing has grown tremendously. AI Marketing has a lot to offer, from gaining a better understanding of your customer, knowing more about their needs, and to have an improved customer experience for everyone.